Vic.ai

Vic.ai, founded in 2017, specializes in developing an AI-powered platform designed to automate and optimize accounting and finance processes. Their solutions focus on autonomous invoice processing, purchase order matching, approval workflows, payments, and analytics for accounts payable operations. By leveraging artificial intelligence, Vic.ai aims to enhance productivity, decision-making, and return on investment for accounting firms and enterprise finance teams.

The company has attracted significant investment from various venture capital firms. In December 2022, Vic.ai secured $52 million in a Series C funding round led by GGV Capital and ICONIQ Growth, with participation from Cowboy Ventures and Costanoa Ventures. This round brought the total capital raised to $115 million. Previous investors include GGV Capital, ICONIQ Growth, Cowboy Ventures, and Costanoa Ventures.

Vic.ai’s uniqueness lies in its application of artificial intelligence to automate traditionally manual and time-consuming accounting tasks. Their platform processes invoices with up to 99% accuracy, significantly reducing the need for human intervention and minimizing errors. This approach addresses critical challenges in accounting, such as inefficiencies in invoice processing and the potential for human error, ultimately enabling organizations to reinvent their accounts payable operations and improve financial management.

Within the realm of artificial intelligence, Vic.ai operates in the category of Autonomous Finance AI, focusing on automating accounting workflows and financial processes. Their technology utilizes advanced machine learning algorithms to replicate human decision-making in cost accounting, shifting the workflow from transaction entry to exception handling, thereby revolutionizing traditional accounting practices.

Vic.ai is based in New York, New York, USA. Specializing in the AI industry, Vic.ai pioneers innovative solutions and advancements in artificial intelligence. Vic.ai, funded over $100 million, is well-positioned to drive significant impact and growth in the AI sector. For more information, please visit vic.ai.

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