About Ocrolus
Ocrolus is a company based in New York (United States) founded in 2014 by Peter Bobley and Victoria Meakin.. Ocrolus has raised $122.31 million across 4 funding rounds from investors including Cross River, Mubadala and Fin Capital. The company has 986 employees as of April 06, 2024. Ocrolus offers products and services including Document Automation Software and Fraud Detection Service. Ocrolus operates in a competitive market with competitors including AuditBoard, Auditoria.AI, Caseware, FISCAL Technologies and Navix, among others.
- Headquarter New York, United States
- Employees 986 as on 06 Apr, 2024
- Founders Peter Bobley, Victoria Meakin
- Stage Minicorn
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Sectors
Financial ServicesTechnology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Ocrolus East Private Limited
- Date of Incorporation 13 Jul, 2016
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$13.8 M (USD)44.15as on Mar 31, 2023
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Net Profit
$1.48 M (USD)52.04as on Mar 31, 2023
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EBITDA
$2.26 M (USD)38.68as on Mar 31, 2023
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Total Equity Funding
$122.31 M (USD)
in 4 rounds
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Latest Funding Round
$80 M (USD), Series C
Sep 23, 2021
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Investors
Cross River
& 18 more
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Employee Count
986
as on Apr 06, 2024
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Products & Services of Ocrolus
Ocrolus offers a comprehensive portfolio of products and services, including Document Automation Software and Fraud Detection Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates extraction and analysis of financial documents for accuracy.
Identifies suspicious activity in documents for risk mitigation.
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Software Development Team
17 people
Leadership Team
14 people
Data Analysis and Operations Team
8 people
Human Resources and Administration
6 people
Sales and Marketing
6 people
Operations Team
5 people
Finance and Accounting
4 people
Assistant Team
3 people
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Funding Insights of Ocrolus
Ocrolus has successfully raised a total of $122.31M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $80 million completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $80.0M
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First Round
First Round
(09 Apr 2018)
- Investors Count 19
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Series C - Ocrolus | Valuation | Fin Capital , Thomvest Ventures |
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| Nov, 2020 | Amount | Series B - Ocrolus | Valuation |
investors |
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| Jun, 2019 | Amount | Series B - Ocrolus | Valuation | Oak HC/FT |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ocrolus
Ocrolus has secured backing from 19 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Cross River, Mubadala and Fin Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on fintech and B2B SaaS companies
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Founded Year | Domain | Location | |
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Investments are directed toward fintech, cybersecurity, and martech sectors.
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Founded Year | Domain | Location | |
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Investments are made in early-stage healthtech and fintech startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ocrolus
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Ocrolus
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ocrolus Comparisons
Competitors of Ocrolus
Ocrolus operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AuditBoard, Auditoria.AI, Caseware, FISCAL Technologies and Navix, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based GRC and audit management solutions are provided.
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| domain | founded_year | HQ Location |
AI-driven audit automation solutions for enterprises are provided.
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| domain | founded_year | HQ Location |
Accounting and auditing software solutions are supplied worldwide.
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| domain | founded_year | HQ Location |
Cloud-based audit and risk management solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Navix is recognized for providing automated freight audit solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ocrolus
Frequently Asked Questions about Ocrolus
When was Ocrolus founded?
Ocrolus was founded in 2014 and raised its 1st funding round 4 years after it was founded.
Where is Ocrolus located?
Ocrolus is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Ocrolus a funded company?
Ocrolus is a funded company, having raised a total of $122.31M across 4 funding rounds to date. The company's 1st funding round was a Series B of $24.85M, raised on Apr 09, 2018.
How many employees does Ocrolus have?
As of Apr 06, 2024, the latest employee count at Ocrolus is 986.
What is the annual revenue of Ocrolus?
Annual revenue of Ocrolus is $13.8M as on Mar 31, 2023.
What does Ocrolus do?
Founded in 2014 and based in New York, United States, solutions for auditing business bank accounts are offered in the financial technology sector. Financial transactions, bills, and statements are analyzed to identify fraudulent charges or unauthorized payments. Optical Character Recognition for transaction detection, crowdsourced data validation, and algorithmic reconciliation are employed, with accuracy maintained across varying document qualities.
Who are the top competitors of Ocrolus?
Ocrolus's top competitors include AuditBoard, Auditoria.AI and Nomentia.
What products or services does Ocrolus offer?
Ocrolus offers Document Automation Software and Fraud Detection Service.
Who are Ocrolus's investors?
Ocrolus has 19 investors. Key investors include Cross River, Mubadala, Fin Capital, Thomvest Ventures, and Oak HC/FT.
What is Ocrolus's valuation?
The valuation of Ocrolus is $500M as of Sep 2021.
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