Anyline, the Vienna-based optical character recognition (OCR) technology provider that developers use to incorporate OCR features into their websites and applications, has raised $ 12 million in Series A funds. The company also gave to know plans for an expansion in the United States.
Leading the round is the Berlin-based venture capital firm Project A, with the participation of existing Anyline investors, including Johann "Hansi" Hansmann, Senovo and the Gernot Langes-Swarovski Foundation.
Founded in 2013, Anyline offers specialized OCR solutions that say that large technology providers are not configured to deliver. This has seen the Austrian startup pick up a portfolio of international clients such as Canon, Porsche and E.On, as well as national governments and the United Nations.
Its OCR functionality can be integrated into any modern website or application and companies are using it to scan and collect diverse "analog" information, such as identity documents, serial numbers and public service meters, using any standard mobile device.
The advantage of this approach is obvious: by using proven OCR technology that really works, companies can save considerable in terms of time and resources by eliminating manual data entry, which is prone to costly mistakes.
From the customer's point of view, anyone who has used OCR to add a debit card to an application or send a meter reading knows that it provides an infinitely less painful experience than having to manually write long numbers on a phone.
Anyline says the new capital will be used primarily to double its workforce and to open a first headquarters in the US. UU. In Boston in early 2020. This will allow Anyline to bring its mobile OCR solutions to new international markets and industries, including KYC smart manufacturing services. and fintech, says the company.
"As companies move into an increasingly virtual world, it is vital that they have access to advanced technologies that allow them to digitize previously analog media," says Lukas Kinigadner, CEO and co-founder of Anyline, in a statement.
“We are proud to say that technology born in Europe is helping companies around the world reduce the errors, inefficiencies and frustrations that manual entry entails. By becoming the market leader in mobile OCR, Anyline plans to be the technology partner that companies need to face these challenges on the horizon. ”
Meanwhile, the planned launch of Anyline in the US. UU. As it turned out, the company found Anyline Inc. and hired Bryan Boatner, the former Global Sales Director of Cognex Corporation, as its new VP of Sales and Business Development.