Gradient, a Google company, supports Send AI to assist businesses in extracting data from intricate documents

Image Credits: Send AI

The backing of Google’s Gradient Ventures has recently been secured by a fledgling Dutch startup with the aim to assist companies in extracting data from large volumes of complex documents where precision and security are vital.

The startup, named Send AI, is challenging established players in the document processing space like UiPath, Abbyy, Rossum, and Kofax, with a platform that allows companies to customize AI models for their specific data extraction requirements.

In regulated industries such as insurance, companies often encounter a variety of document formats, including PDFs, paper files, and smartphone photos with different orientations and backgrounds. These non-standard “unstructured” data types can be challenging for humans to interpret, and a solely machine-led approach can lead to errors in claims processing or administrative issues.

Off-the-shelf document processing software is often designed for common document types across multiple industries, making them unsuitable for certain use cases. In contrast, companies can train a computer vision model to recognize specific documents and a separate language model to extract and validate relevant data with Send AI. Humans are also involved in the process, controlling and reviewing each step through a web interface when necessary.

Send AI, initially founded as Autopilot in Amsterdam in 2021, previously raised a small $100,000 investment from a university graduate alumni fund and has raised an additional €2.2 million ($2.4 million) in a pre-seed funding round co-led by Google’s Gradient Ventures and Keen Venture Partners.

Functionality

Send AI’s cloud-based software can be accessed by companies via APIs to process documents received over email. The software visually enhances documents before classifying and extracting data using language models.

Trentelman stated that while Send AI primarily targets larger enterprises, any business dealing with large document volumes could benefit from the technology.

The competition for Send AI includes startups offering services built on new large language models (LLMs) like GPT-X from OpenAI. However, when precise and accurate data extraction is needed across large volumes, Send AI’s approach sets it apart.

The company uses smaller, open source models trained by processing a small set of documents by hand. Customers are charged based on the volume of processing, providing control and cost-effectiveness.

Data Privacy and Security

Send AI’s technology provides customers in highly-regulated industries with control over their data, addressing concerns about cloud-based solutions by using small, isolated open source transformer models for each customer.

The company’s approach allows for precise data handling, enabling customers to maintain control over their data. Despite concerns about cloud deployment, regulated companies are increasingly open to such solutions.

Send AI is currently in private beta mode but already has impressive customers, including insurance giant Axa. With plans to double its headcount, the company aims to achieve a full commercial launch in the near future.

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