"We’ve had a tremendous run at Ocrolus over the last few years, but what’s most encouraging is that we’ve only scratched the surface of the vast market opportunity that lies ahead."
NEW YORK (PRWEB) August 12, 2020
Ocrolus, the leading human-in-the-loop infrastructure company that transforms documents into actionable data with over 99% accuracy, today announced that it has been named to the annual Inc. 5000 list as the 30th fastest growing private company in America. The company has not only seen drastic revenue growth, it is also expanding into new markets and growing its team aggressively, now employing more than 900 team members across four offices. The company ranks as the fourth fastest growing private company in New York, and the sixth fastest growing software company.
“We’ve had a tremendous run at Ocrolus over the last few years, but what’s most encouraging is that we’ve only scratched the surface of the vast market opportunity that lies ahead,” said Sam Bobley, CEO of Ocrolus. “The company is focused on replicating its rapid success in fintech lending in mortgage lending and banking. We’re adding talent across our organization to penetrate new markets that are in dire need of process automation solutions.”
In 2019, over 454 million financial transactions were analyzed on the Ocrolus platform, representing over 32.2 million pages of bank statements, pay stubs, invoices, tax forms and other financial documents. Most recently, Ocrolus was instrumental in helping lenders efficiently glean information from PPP applications so they could fund small businesses in need more quickly. The company powers document-driven workflows for leading fintechs like SoFi, LendingClub, Cross River Bank, BlueVine, Enova, and Plaid, to name a few.
As part of its corporate expansion, Ocrolus has introduced data validation services that are available 24/7 365 days a year. This means that Ocrolus customers are now able to submit documents at any time and receive over 99% accurate results either instantaneously or — for documents that are more difficult to read — within minutes.
“Through our years of operating experience, we have seen firsthand the massive opportunity to remove friction created by manual work streams within financial systems and institutions. Ocrolus has established itself as a leader in this space and has grown immensely since QED invested,” said Nigel Morris, co-founder of Capital One and QED partners. “The digitization of financial services has increased at a rapid pace since COVID and we look forward to seeing Ocrolus continue to provide vital services to support this acceleration.”
With the current financial stress and burden many Americans and small businesses are facing, the need for efficient lending and banking processes is now more apparent than ever.
“We’re riding the tailwinds of two scorching-hot trends in banking: digital transformation and the evolution of traditional credit,” said Vik Dua, COO of Ocrolus. “Our ability to structure documents and data for high-stakes financial decisions puts us in a unique position to help modernize financial services.”
To learn more about Ocrolus’ growth and its products, please visit ocrolus.com.
Ocrolus is a human-in-the-loop infrastructure company that transforms documents into actionable data with over 99% accuracy. Designed to automate high-stakes financial decisions, Ocrolus powers document-driven workflows for leading fintech companies like BlueVine, Plaid, and SoFi.
Use-cases include loan underwriting, account openings, invoice processing and other document-intensive processes. Ocrolus has raised over $30 million in venture capital, backed by Oak HC/FT, FinTech Collective, Bullpen Capital, and QED Investors, among others. Visit ocrolus.com to learn more.