About
Nanonets is an AI OCR platform for finance document automation. Founded by IIT Gandhinagar alums (CEO Sarthak Jain). Raised $42M total ($29M Series B March 2024 led by Accel). 90% straight-through processing rate. 34%+ of Fortune 500 as customers. Users quadrupled in past year. Uses transformers over LLMs to avoid hallucinations. Angel investors include Ashton Kutcher.
Key Facts
- [1]Funding: Total funding: $42M. Last round: Mar 2024. Stage: Growth.
- [2]Employees: Employee count: 51-200.
- [3]Website: Official website: nanonets.com.
- [4]AI Technology: Core AI/ML technologies: Computer Vision.
- [5]Region: Region: Americas (United States).
Founder
Sarthak Jain
Co-founder & CEO
AI Technology
Computer Vision
Image and video processing, OCR, and document extraction
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Nanonets?
Nanonets is an AI OCR platform for finance document automation. Founded by IIT Gandhinagar alums (CEO Sarthak Jain). Raised $42M total ($29M Series B March 2024 led by Accel). 90% straight-through processing rate. 34%+ of Fortune 500 as customers. Users quadrupled in past year. Uses transformers over LLMs to avoid hallucinations. Angel investors include Ashton Kutcher. Nanonets is classified in the Enterprise Finance segment at the Automation layer of the financial AI stack.
Who founded Nanonets?
Nanonets was founded by Sarthak Jain (Co-founder & CEO).
How much funding has Nanonets raised?
Nanonets has raised $42M in total funding, placing the company at the Growth stage. The most recent round closed in Mar 2024. Among 79 funded Enterprise Finance companies, Nanonets ranks #51 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Nanonets use?
Nanonets primarily leverages Computer Vision technology. Image and video processing, OCR, and document extraction. Within the Enterprise Finance segment, 11 companies use this technology.
What market segment does Nanonets operate in?
Nanonets operates in the Enterprise Finance and Lending & Credit and Insurance market segments. 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. The company also has a footprint in lending & credit and insurance, reflecting its cross-functional approach to financial AI.
Where is Nanonets headquartered?
Nanonets 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 Nanonets's competitors?
Companies similar to Nanonets 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 Nanonets offer?
Nanonets builds automation-layer solutions for the financial services industry. The company's core offering: Trainable AI OCR for finance documents. The platform is powered by Computer Vision technology.