“The Series A funding is a critical next step in bringing Nanonets’ document workflow solutions to customers across the globe,” Sarthak Jain, Co-founder and CEO, Nanonets said in a statement. “Nanonets operates with a customer-obsessed approach to doing business. We’re constantly asking ourselves how to make the experience of document management easier for our customers and their end users.”
Current legacy systems and processes require employees to review each document and manually enter data into CRMs, ERPs, or Excel files. Using APIs and no-code customization custom capabilities, Nanonets gives organizations the ability to update internal systems to automate document workflows and financial controls.
“Despite being at the cutting edge of AI/ML, Nanonets’ product is no-code and super intuitive — which makes it extremely easy for their clients to adopt,” Mukul Arora, Co-Managing Partner, Elevation Capital said. “We were also really inspired by Sarthak’s vision of using document extraction as a wedge to build a much deeper process automation platform.”
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The Series A round also saw participation from angel investors including Amar Goel (Founder & Chairman, PubMatic), Gautam Kumar and Kushal Nahata (Co-founders, FarEye), Krish Subramanian, Rajaraman Santhanam (Co-founders, Chargebee Inc.), Vara Kumar Namburu and Khadim Batti (Co-founders, Whatfix), Ashish Gupta (Co-founder, Helion), Nakul Aggarwal and Ritesh Arora (Co-founders, BrowserStack), and Vetri Vellore (Founder and CEO, Ally). Earlier investors included Ashton Kutcher, Y Combinator, SV Angel, and Soma Capital.
