- Paperwork automation platform Anvil announced it has raised $5 million in Series A funding led by Google’s AI-focused investment fund Gradient Ventures
Paperwork automation platform Anvil announced it has raised $5 million in Series A funding. Google’s AI-focused investment fund Gradient Ventures led the round with participation from Citi Ventures, Menlo Ventures, Financial Venture Studio, and 122 West.
Anvil is known as being a low-code paperwork automation platform that helps businesses quickly build simple online experiences for paperwork processes. Dealing with paperwork is at the core of office work in America. And every day millions of forms are shared, filled out, signed, and then returned to the requester for processing.
This process is insecure, error-prone, tedious, and it requires countless human hours to transcribe information from PDFs into various computer systems. Plus endless forms also waste valuable time and cause frustration for consumers who fill them out, often repeating the same information input over and over.
Anvil’s platform is flexible as it can be applied to any existing paperwork process. And Anvil’s current customers span industries including financial services, human resources, technology and healthcare companies. Recently, Anvil’s platform was used by Minneapolis-based Sunrise Banks to deploy its digital application process for the Paycheck Protection Program (PPP).
Key Quotes:
“We’re really proud of the way that Anvil’s platform bridges the gap from offline to online. As virtually all businesses struggle to deliver services remotely in this COVID-19 era, Anvil’s solution brings pen and paper processes online, enabling access to services whenever and wherever the customer is.”
– Mang-Git Ng, CEO and co-founder of Anvil
“The addressable market for Anvil’s solution is limitless. America spends over $1 trillion each year completing, processing, and storing paperwork. Anvil’s platform has allowed existing paper and PDF forms to be automatically populated with a series of APIs and AI techniques. Processes that used to take weeks now take minutes and allow banks, insurance companies, and many other industries that rely on paperwork to automate and delight customers.”
– Darian Shirazi, general partner at Gradient Ventures
“I’m fascinated by technology that brings efficiency to businesses—from large enterprises all the way down to individuals who rely on software to accomplish their work. Anvil’s broad set of tools, from developer-first APIs to their no-code workflow builder, helps automate away the mundane and painful parts of peoples’ jobs so they can focus on higher-order problems.”
– Naomi Ionita, Partner at Menlo Ventures
“With Anvil, we were able to help more than 1,600 small businesses apply for $127M in Paycheck Protection Program loans in just five days. The Anvil platform made it possible for us to provide a customer experience that was a dramatic improvement over our previous application process, eliminating some stress for the small business community.”
– Brett Cooksey, Sunrise Banks’ Chief Information Officer
“We see incredible possibilities in financial services for Anvil’s solution. Their ability to provide a working solution to Sunrise Banks in days, not months, shows us the promise of what tech can bring to modern financial services.”
– Ryan Falvey, Managing Partner at Financial Venture Studio
