Acodis
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| Industry | Software company |
|---|---|
| Founded | 2016 |
| Founder |
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| Headquarters | Winterthur, Zurich, Switzerland |
Area served | Worldwide |
Key people |
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| Website | acodis |
Acodis is a Switzerland-based software company that specializes in Intelligent Document Processing (IDP).[1][2] The company was founded in 2016 with the goal of automating the data extraction from business documents.[3]
Acodis IDP platform, powered by machine learning, converts any document into structured data within seconds.[4] This results in accurate and high-quality data and allows businesses to automate the processing of documents. Acodis IDP (Intelligent Document Processing) automates document inspection, document categorization, data extraction, and data validation and analysis supporting all languages.[5]
The company is based in Winterthur, Switzerland, and currently employs 29 people.
History
The idea of Acodis was sown by Martin Keller, Patrick Emmisberger, and Benjamin von Deschwanden.[6]
Martin Keller wanted to give society a solution that solves document-related problems by filling in the gaps. He understood that people couldn't fully access their documents' data without manually copying/pasting information because most data is trapped in files like PDFs or scans. From there onwards, Acodis was transformed from an idea into a solution, using AI data extraction that reshapes how people manage their documents.[7]
His vision was mirrored by ETH Zurich graduates: Patrick Emmisberger and Benjamin von Deschwanden, who together with Martin, developed an idea for a mountaineering app. After the group discovered countless issues with extracting data from outdated sources, they decided to take action, after which Acodis was born. Strengthening the IT infrastructure of the company, the team then delivered their first customer-based project solely based on AI-centric software.[8]
Some of the biggest names in global pharmaceuticals, logistics, public institutions, manufacturing and the arts already trust Acodis to help them save time and money on data extraction. Acodis allows training machine learning models by the end-user to process all kinds of documents such as customs documents, salary statements, pension fund statements, etc. Every year, more than 40 clients in six countries process more than 1.3 million documents with Acodis.
Platform
Acodis has a machine learning system to digitize documents. Their SaaS solution Acodis IDP Platform enables companies to read, understand and automatically extract valuable information from documents for automated processing and analysis. Artificial Intelligence helps decode documents even if they vary in structure and layout.
IDP Platform at Acodis includes four steps:
- Step 1: Categorize Documents
- Step 2: Extract Data
- Step 3: Review Results
- Step 4: Integrate and Export
Acodis allows its users to convert any document into structured data and extract images, tables, headings, lists, footnotes, and paragraphs that can span over multiple columns or pages. Acodis now integrates with UiPath, the leader in Robotic Process Automation, and other apps to further improve and accelerate data extraction processes for enterprises.
Services
Acodis offers the following services and benefits:
- Self-service platform for data classification and extraction from documents
- Reduce manual copy/pasting work by training your own AI application
- Define and adjust your own data categories and schema on-the-job
- Extract structured data from PDFs, Images, etc.
- Document upload via drag & drop, API, or email
- Various output options: API, Excel, CSV, XML, JSON, etc.Cloud-based
Funding
After bootstrapping Turicode, now known as Acodis, to a company with 29 employees, the team around co-founder Martin Keller attracted investors: Swiss Startup Group, SeedX, BackBone Ventures, Gentian Investments, and experienced business angels participated in a CHF 5.2 million financing round to fund the company’s growth plans.
Awards and Milestones
- 2019: Acodis became a member of the Swiss Made Software group, a part of Venture Leaders Fintech Roadshow.
- 2020: Venture round to accelerate growth with CHF 2 million financing[9]
- 2021: Acodis accelerates its growth with a CHF 2.5 million financing round led by VI Partners. Team expansion to 20+ members.[10]
- 2021: Recognized by G2.com as a High Performer in the Data Extraction category.[11] Awarded on three additional G2 “Best Of” lists : Best Support, Best Relationship and Easiest to do Business With. Acodis joins Microsoft for Startups Program. Swiss Machine Learning Start-up Turicode Becomes Acodis.
In the media
References
- ↑ "Acodis - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 23 March 2022.
- ↑ "Acodis - Intelligent Document Processing (IDP)". azuremarketplace. Retrieved 12 March 2022.
- ↑ "Acodis AG". www.startup.ch. Retrieved 12 March 2022.
- ↑ "Acodis Intelligent Document Processing (IDP) Platform". www.acodis.io. Retrieved 12 March 2022.
- ↑ "Acodis - VideoJobs". www.videojobs.ch. Retrieved 12 March 2022.
- ↑ "Acodis celebrates fresh capital injection". Greater Zurich Area. Retrieved 12 March 2022.
- ↑ "Swiss Machine Learning Start-up Turicode Becomes Acodis; Announces New Intelligent Document Processing Platform". finance.yahoo.com. Retrieved 12 March 2022.
- ↑ Fintech, Swiss (10 June 2021). "Acodis Joins Microsoft for Startups Program". SWISS FINTECH. Retrieved 12 March 2022.
- ↑ "turicode raises CHF 2.2 million to accelerate market expansion and product development". www.venturelab.swiss. Retrieved 12 March 2022.
- ↑ "Acodis accelerates its growth with a CHF 2.5 million financing round led by VI Partners". www.venturelab.swiss. Retrieved 12 March 2022.
- ↑ "Acodis Wins the G2 "High Performer" Award in G2 Fall Awards 2021". acodis_inc.prowly.com. Retrieved 12 March 2022.