- #VIC.AI AIPOWERED 50M SERIES ICONIQ GROWTH HOW TO#
- #VIC.AI AIPOWERED 50M SERIES ICONIQ GROWTH PROFESSIONAL#
In Vic.ai’s pitch deck, the company outlines its vision for the future of automated accounting and says it hopes to be a resource both for companies that want to do more of their own accounting tasks as well as for accounting firms looking to work more effectively. Vic.ai plans to use the new funding to expand its enterprise offering and release additional AI capabilities for U.S. Previous funding rounds in 2017 have raised the startup a total of $12.7 million, according to data from Crunchbase. The Series B funding was led by ICONIQ Growth with participation from existing investors GGV Capital, Cowboy Ventures and Costanoa Ventures, bringing total capital raised to 63 million. The New York-based company, which was founded in 2016, netted cash from GGV Capital, Cowboy Ventures, and Costanoa Ventures in its series A funding round last year.
#VIC.AI AIPOWERED 50M SERIES ICONIQ GROWTH HOW TO#
Its AI software can also read different documents and suggest what a user should do with them and predict how to post a bill to clients’ general ledgers.
Vic.ai uses machine learning to automate accounting tasks like automatically approving bills and making electronic payments.
One such startup, Vic.ai, earned $11.2 million in its Series A funding round in 2019.
#VIC.AI AIPOWERED 50M SERIES ICONIQ GROWTH PROFESSIONAL#
Professional services in the US is a massive, $2 trillion industry that is dominated by the Big 3 management consultancies - McKinsey, Bain, and BCG - and Big 4 accounting firms - Deloitte, KPMG, PwC, and EY.īut technology poses a threat to big firms, and innovative startups are seizing opportunities to earn a slice of the consulting industry pie. Vic Brain The system automates bookkeeping using our highly effective machine learning algorithms trained on more than 100 million real accounting transactions.Ĭloud API Our API connectors allow inflow of data from various systems like Payroll, Expenses, HR Systems and Bank, while our output API’s ensure the data is correctly placed into your Accounting system. Vic Vision Developed proprietary language independent document interpretation technology based on computer vision and object-based image classification. Through more than 15 years experience in the Cloud Accounting space, and with access to more than 100+ million accounting documents and transactions, Vic.ai is the world’s first AI Accountant. Vic. The company increases finance teams’ productivity with AI that works 24/7 on processing invoices faster and more accurately. Research estimates a 94% chance that most of the accounting industry will be automated ($100bn Industry in the US). The AI’s dramatic results include cutting customers’ total invoice processing time by 80. Vic.ai is a service that automates accounting and provides financial advice and support through the use of Artificial Intelligence (“A.I.”). This is the Vic.ai pitch deck to raise a $11.2m s eries-a round in 2019.
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