Veryfi

About Veryfi

Products by Veryfi

All products by Veryfi reviewed by our AI panel of experts.

VeryfiAI Document Processing

OCR APIs for real-time data extraction from invoices, receipts, and checks

From $500/mo7.8/10

How Our Review Panel Scores Veryfi

Six independent reviewer personalities assessed Veryfi's product on their own terms. They landed within 0.9 points of each other, an unusually strong consensus.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Veryfi competes with, and how they differ.

Mindee7.8/10

Paris/San Francisco-based developer-first OCR API for receipts and invoices, the closest direct match to Veryfi's API-first model; Mindee leans more on pre-built, no-training-required models (docTI) while Veryfi trains proprietary models in-house on its own GPU clusters.

1 product reviewed on TopReviewed

Nanonets8.0/10

Pairs an OCR/IDP API with a visual no-code workflow builder (intake, approvals, ERP export), targeting ops teams who want to build automations without engineering, versus Veryfi's narrower API-and-SDK developer focus.

1 product reviewed on TopReviewed

Rossum6.7/10

UK-headquartered (Prague-founded) invoice and accounts-payable automation platform sold as a template-free, business-user-managed product rather than a raw API -- it targets AP teams buying a finished workflow, not developers embedding extraction into their own app.

1 product reviewed on TopReviewed

Klippa7.8/10

Groningen, Netherlands-based document/expense automation suite (scanning, KYC, expense management) aimed at back-office and compliance use cases; acquired by SER Group in March 2025, giving it enterprise-ECM distribution Veryfi does not have.

1 product reviewed on TopReviewed

ABBYY (Vantage)7.8/10

Decades-old enterprise IDP incumbent selling an on-prem/cloud platform into large RPA and document-automation deployments; heavier, longer sales cycles than Veryfi's self-serve API/SDK approach.

1 product reviewed on TopReviewed

Ocrolus7.3/10

Vertical-specific document automation for lending: bank statements, pay stubs and income verification for mortgage and small-business underwriting, versus Veryfi's general-purpose receipts/invoices/W2 extraction across industries.

1 product reviewed on TopReviewed

Company Timeline

Key milestones in Veryfi's history, with sources.

1. Feb 11, 2025Partnership

   Partnership with JustPaid for revenue automation

   Veryfi adopted JustPaid's AI-powered B2B revenue automation platform to manage its own sales-contract invoicing and revenue collection -- a vendor relationship the two Y Combinator-alumni companies jointly announced.

   pymnts.com
2. Sep 27, 2022Launch

   Launched free tier for OCR API platform

   Veryfi introduced a permanent free account tier for its OCR API platform, letting developers submit up to 100 documents in the first 14 days and 50 per month thereafter with no credit card required and no feature limitations.

   gilbane.com
3. Apr 26, 2021Funding

   Series A -- $12M led by NewView Capital

   Veryfi raised a $12 million Series A led by NewView Capital, with participation from TI Platform, the Willard Family, and existing investor Act One Ventures. NewView Capital's Jazmin Medina joined Veryfi's board.

   zillionize.com
4. Mar 21, 2017Funding

   Seed funding from Y Combinator and Zillionize (as IQBoxy)

   Zillionize made its first investment in the company, then still named IQBoxy, alongside Y Combinator, as part of its Seed round. Amount undisclosed.

   zillionize.com
5. 2017Milestone

   Rebranded from IQBoxy to Veryfi

   The company renamed itself from IQBoxy to Veryfi, moving beyond expense-management positioning toward a broader data-transformation/document-AI platform. Exact month is unverified -- founder Ernest Semerda's personal blog post recounting the rebrand carries a Dec 4, 2017 byline, while other secondary summaries place it in early 2018.

   theroadtosiliconvalley.com
6. 2017Founded

   Founded by Dmitry Birulia and Ernest Semerda

   Veryfi was founded in Silicon Valley by Dmitry Birulia and Ernest Semerda and joined Y Combinator's Winter 2017 (W17) batch under its original name, IQBoxy, a receipt/bookkeeping app. Note: two of the company's own 2021-2022 press releases separately state "Founded in 2016" -- a genuine discrepancy with YC's own record used here.

   ycombinator.com