Document Recognition services for business

Updated: March 14, 2020

2020. Alkymi launches with $5M seed to automate email data extraction



Alkymi, an early-stage startup that wants to bring intelligence to highly manual business processes like copying and pasting financial data from emails and attachments, launched today with a $5 million seed investment. The startup is bringing machine learning to the business analyst’s in-box with the goal of automating many of the tedious manual parts of the job. The company has created a solution that extracts data automatically that these analysts previously had to copy and paste into applications, spreadsheets or databases.


2019. Amazon launched AI OCR service - Textract


Amazon has launched a new service Textract for its Web Services customers, and it's like optical character recognition on steroids. It more than just extracts text from documents like its name implies - it can actually identify different document formats and their contents so it can process them properly. The product was designed to be able to recognize if it's taking text from tables and forms from documents, including scanned receipts, tax paperwork or inventories. It then generates structured data that doesn't need human input. Textract can process millions of pages in just a few hours, which can lower document processing costs. Plus, customers can use it even though they don't have previous machine learning experience.