Nanonets
Headquarters
San Francisco, CAFounded
2017CEO / Founder
Sarthak ShahEmployees
51-200Funding
Series B — $29MProducts
1 product listedAvg. AI Score
8.0/10Website
nanonets.com/
Profile updated
About Nanonets
Nanonets is a document automation company founded in 2017 by Sarthak Shah and Prathamesh Juvatkar, headquartered in San Francisco, California. The company builds software that extracts structured data from unstructured documents such as invoices, receipts, purchase orders, and forms using optical character recognition and machine learning models.
The platform supports end-to-end accounts payable automation, invoice processing, and broader intelligent document processing workflows. Customers can train custom models on their own document types or use pre-built models for common formats. The company has reported processing over a billion documents annually and counts a significant share of Fortune 500 companies among its users, with use cases spanning finance, logistics, healthcare, and retail.
Nanonets raised a Series A round of approximately $29 million, with investors including Elevation Capital. The company employs roughly 100 to 200 people. In 2023, Nanonets expanded its product scope beyond pure OCR toward broader workflow automation, including integrations with ERP systems and tools such as SAP, QuickBooks, and NetSuite.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
Products by Nanonets
All products by Nanonets reviewed by our AI panel of experts.
How Our Review Panel Scores Nanonets
Six independent reviewer personalities assessed Nanonets's product on their own terms. They disagreed by 1.2 points — The Finance Lead was the hardest to convince, The Domain Strategist the most positive.
Averaged across 1 reviewed product in our catalog. Scores are out of 10.
Competitive Landscape
Who Nanonets competes with, and how they differ.
Hyperscience targets the same large-enterprise, human-in-the-loop document automation buyers but markets itself as a broader intelligent-automation platform rather than leading with agentic AI branding the way Nanonets does with OCR-3 and its Agents line.
1 product reviewed on TopReviewed
ABBYY Vantage is the longer-established incumbent IDP vendor (in the market since the 1990s) with deep process-mining and content-intelligence tooling, appealing to buyers who want a mature platform rather than Nanonets' newer agent-first approach.
1 product reviewed on TopReviewed
Instabase competes directly for large enterprise AP and claims-processing deals with a similar unstructured-data platform pitch, differentiating on a no-code "app" builder for custom document workflows versus Nanonets' pre-built agent templates.
1 product reviewed on TopReviewed
LandingAI's Agentic Document Extraction is a direct product-level rival to Nanonets' OCR-3 model, built on a computer-vision heritage and marketed more toward ML/developer teams building custom pipelines than to non-technical business users.
1 product reviewed on TopReviewed
Mindee sells a developer-first OCR API for receipts and invoices at a lower price point, competing for startups and SMBs that need simple document extraction rather than Nanonets' enterprise agentic-automation suite.
1 product reviewed on TopReviewedCompany Timeline
Key milestones in Nanonets's history, with sources.
- Funding
Series B — $29M led by Accel
Nanonets raised a $29 million all-equity Series B led by Accel, with existing investors Elevation Capital and Y Combinator participating, bringing total funding to $42 million.
finance.yahoo.com - Funding
Series A — $10M from Elevation Capital
Nanonets raised a $10 million Series A led by Elevation Capital to help global enterprises automate document workflows using AI.
tmcnet.com - Founded
Nanonets founded, joins Y Combinator Winter 2017
Nanonets was founded by Sarthak Jain and went through Y Combinator's Winter 2017 batch, building AI-powered automatic data extraction for complex documents.
ycombinator.com
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