New Funds for Data Transformation Platform Veryfi

In the US, AI-based data platform Veryfi has raised $12m in a Series A round of financing, which it will use for marketing initiatives and to meet the demand for its technology.

Veryfi enables organizations to transform their unstructured data - in the form of receipts, invoices, purchase orders, and other business documents - into structured data at scale. According to the firm, its suite of data transformation APIs can be used to deliver business intelligence in seconds.

New funding has been led by NewView Capital, with participation from TI Platform, Willard Family, and existing investor Act One Ventures. Ernest Semerda (pictured), co-founder of Veryfi, comments: 'Our goal is to help companies tap into the goldmine of unstructured data to make better business decisions. We are excited that NewView Capital shares our vision and that we can leverage their expertise as we focus on major product and growth initiatives this year.'

Web site: www.veryfi.com .