Ocrolus
Headquarters
New York, NYFounded
2014CEO / Founder
Sam BobleyEmployees
201-500Funding
Series C — $127MProducts
1 product listedAvg. AI Score
7.3/10Website
ocrolus.com/
Profile updated
About Ocrolus
Ocrolus was founded in 2014 by Sam Bobley and Vikas Dua and is headquartered in New York City. The company develops software that uses machine learning and human validation to extract and analyze data from financial documents such as bank statements, pay stubs, and tax forms, targeting lenders and financial institutions seeking to automate underwriting workflows.
Ocrolus's core product, the Document AI platform, is used by mortgage lenders, small business lenders, and other financial services firms to process loan applications and verify income and asset data. Customers have included companies such as Blend, Cross River Bank, and other consumer and commercial lending platforms. The company positions itself in the document automation and lending intelligence market, competing with providers of intelligent document processing for financial services.
Ocrolus has raised over $258 million in venture funding from investors including Fifth Third Bank, Middleground Capital, Oak HC/FT, and Amex Ventures across multiple funding rounds, with its most recent large round occurring in 2021. The company employs several hundred people and has expanded its product line to include fraud detection and cash flow analysis tools for lenders.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
Products by Ocrolus
All products by Ocrolus reviewed by our AI panel of experts.
Competitive Landscape
Who Ocrolus competes with, and how they differ.
Instabase sells enterprise document-AI to banks and mortgage lenders (customers include Rocket Mortgage) with configurable cloud/self-hosted data control, competing directly with Ocrolus for large-lender loan-document automation deals.
1 product reviewed on TopReviewed
Hyperscience processes loan applications, mortgage applications and KYC documents for banks via its cloud "Hypercell" platform with integrations into legacy banking systems like FIS and Bloomberg, targeting the same enterprise-lender buyer as Ocrolus.
1 product reviewed on TopReviewedPlaid competes for the same lending-underwriting data budget with a bank-account-linked API approach (Plaid Check, LendScore) instead of Ocrolus's document-upload/OCR model, giving lenders real-time cash-flow signals rather than parsed bank statements and pay stubs.
Company Timeline
Key milestones in Ocrolus's history, with sources.
- Launch
Launches Encore cash-flow data sharing platform
Ocrolus launched Encore, described as a first-of-its-kind trusted cash-flow data sharing platform for small business funding.
prnewswire.com - Partnership
Engages with Fannie Mae on mortgage income calculations
Ocrolus announced an engagement with Fannie Mae to streamline mortgage income calculations for lenders.
prnewswire.com - Partnership
Partners with LendSaaS on AI-driven document analysis
Alternative-lending platform LendSaaS integrated Ocrolus document automation (bank-statement analysis, fraud detection) into its origination and servicing software.
finovate.com - Funding
Series C - $80M led by Fin VC at $500M valuation
Ocrolus raised an $80M Series C led by Fin VC, with Thomvest Ventures, Mubadala Capital, Oak HC/FT and others, at a $500M post-money valuation, bringing total funding to $127M.
finovate.com - Funding
Series B - $24M led by Oak HC/FT
Ocrolus raised a $24M Series B led by Oak HC/FT with FinTech Collective, Bullpen Capital and QED Investors, bringing cumulative funding to $33M.
debanked.com - Funding
Series A - $4M led by Bullpen Capital
Ocrolus raised a $4M Series A led by Bullpen Capital with QED Investors, Laconia Capital Group, ValueStream Ventures and RiverPark Ventures, to expand its document-verification platform for lenders.
finsmes.com - Founded
Founded by Sam Bobley and Victoria Meakin in New York City
Ocrolus was founded in 2014 by Sam Bobley (CEO) and Victoria Meakin to automate financial document analysis for lenders.
ocrolus.com
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