The Neat Company is a Philadelphia, PA-based provider of scanning software and hardware solutions for small and medium-sized companies. It offers NeatReceipts, which scans, reads and organizes paper receipts, business cards and other documents into digital spreadsheet format, and NeatDesk, a standard scanner. The company raised $2.75M in its latest funding round led by Edison Venture Fund with participation from MentorTech Ventures. This latest financing brings total capital raised to date to $15.5M. The company said it will use the proceeds to expand sales, marketing and product development. Founded in 2002 and based in Philadelphia, The Neat Company sells premium scanner hardware and bundled scanning software to businesses and consumers. Its product lineup includes NeatReceipts (a mobile scanner for receipts and business cards), NeatDesk (a full desktop scanning system), and NeatWorks software with parsing technology and a database for organizing scanned files. The company has expanded from expense-receipt management into a broader business focused on complete paper-scanning solutions. According to Edison Principal Michael Kopelman, Neat sold almost half a million units in five years, a metric cited as driving investor optimism. The business has demonstrated commercial traction and is investing in further product development. The company plans to use new funding to broaden distribution by expanding sales and marketing efforts.

Total raised

$10M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2010