About
Docsumo is an AI platform for bank statement and invoice extraction. Founded 2019 by Bikram Dahal and Rushabh Sheth. Raised $3.7M total ($3.5M seed March 2022 led by Common Ocean with Fifth Wall, Arbor Realty Trust). 34 employees. 98%+ accuracy, 90%+ straight-through processing. Clients include Arbor, National Debt Relief. Barclays accelerator alum.
Key Facts
- [1]Funding: Total funding: $5M. Last round: Mar 2022. Stage: Seed.
- [2]Employees: Employee count: 51-200.
- [3]Website: Official website: docsumo.com.
- [4]AI Technology: Core AI/ML technologies: LLM / NLP.
- [5]Region: Region: Americas (United States).
Founders
Rushabh Sheth
Co-founder & CEO
Bikram Dahal
Co-founder & CTO
AI Technology
LLM / NLP
Large language models for NLP, chat, document understanding, and text generation
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Docsumo?
Docsumo is an AI platform for bank statement and invoice extraction. Founded 2019 by Bikram Dahal and Rushabh Sheth. Raised $3.7M total ($3.5M seed March 2022 led by Common Ocean with Fifth Wall, Arbor Realty Trust). 34 employees. 98%+ accuracy, 90%+ straight-through processing. Clients include Arbor, National Debt Relief. Barclays accelerator alum. Docsumo is classified in the Enterprise Finance segment at the Automation layer of the financial AI stack.
Who founded Docsumo?
Docsumo was founded by Rushabh Sheth (Co-founder & CEO) and Bikram Dahal (Co-founder & CTO).
How much funding has Docsumo raised?
Docsumo has raised $5M in total funding, placing the company at the Seed stage. The most recent round closed in Mar 2022. Among 79 funded Enterprise Finance companies, Docsumo ranks #77 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Docsumo use?
Docsumo primarily leverages LLM / NLP technology. Large language models for NLP, chat, document understanding, and text generation. Within the Enterprise Finance segment, 17 companies use this technology.
What market segment does Docsumo operate in?
Docsumo operates in the Enterprise Finance market segment. AI enterprise finance companies are automating and enhancing the financial operations of businesses — from accounting and treasury management to financial planning, analysis, and corporate finance.
Where is Docsumo headquartered?
Docsumo is headquartered in San Francisco, United States. The company operates in the Americas region. The team consists of 51-200 employees. United States is home to 324 financial AI companies tracked by AIFI Map.
Who are Docsumo's competitors?
Companies similar to Docsumo in the Enterprise Finance space include Greenlite ($20M raised), Trumid ($722M raised), Pibit.ai ($8M raised), Puzzle ($67M raised), Pilot ($222M raised). These companies operate in related areas of financial AI: Greenlite focuses on ai agents that accelerate aml reviews. Trumid focuses on ai-powered fixed income trading platform. Pibit.ai focuses on agentic underwriting platform for carriers. (Based on AIFI Map classification data.)
What products does Docsumo offer?
Docsumo builds automation-layer solutions for the financial services industry. The company's core offering: AI for bank statements and invoice extraction. The platform is powered by LLM / NLP technology.