Invofox is a Madrid-based startup providing an API-based document data extraction platform that uses OCR and AI to convert invoices, payslips, bank statements, and other documents into structured JSON data with a 99.2% accuracy guarantee. Founded in 2021 and part of Y Combinator's Summer 2022 batch, it serves over 100 software companies processing tens of millions of documents annually.
SectorsAI & Data, Enterprise Software, Document Processing / IDP
Start-up MapAI & Data › AI data infrastructure
Founders
A
Adrián Ramírez del Río
Co-Founder & CDO
A
Alberto Gimeno
CEO & Co-Founder
C
Carmelo Juanes Rodríguez
CTO & Co-Founder
Global models 5
IInstabase
United States · instabase.com ↗
AI platform that turns unstructured documents into structured data, sold to enterprises and through APIs, the same extraction-as-a-service model.
$390MComparable
HHyperscience
United States · hyperscience.com ↗
Machine-learning document processing that pulls structured fields out of invoices, forms and financial documents, sold as B2B software.
$300MComparable
RReducto
United States · reducto.ai ↗
Developer-first API that parses complex documents into structured JSON for software companies, the closest match to Invofox's API-for-software-vendors model.
$108MComparable
RRossum
Czech Republic · rossum.ai ↗
AI extraction of invoice and transactional document data into structured output, with usage-based pricing for businesses and integrators.
$105MComparable
UUnstructured
United States · unstructured.io ↗
API that converts PDFs and other documents into clean structured data for developers building software and AI products.
$65MComparable
In the same niche 31 others
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Investors 9
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Funding rounds 3
| Date | Round | Amount | Lead |
|---|---|---|---|
| 2024-02 | Series A | $8M |
Lead not disclosed
+2 more
|
| 2022-09-07 | Seed (estimated) | $2M |
Lead not disclosed
+6 more
|
| 2021-11-30 | Pre-seed (estimated) | €345K |
Lead not disclosed
+1 more
|