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- Ocrolus
Ocrolus Revenue, Valuation, Funding & Investors
Ocrolus is valued at $500M as of September 2021, a 25.0x multiple on its last reported $20M revenue.
Last Ocrolus valuation
$500M
Series C · Sep 2021
Last Ocrolus funding round
$80M
Series C · Sep 2021
Ocrolus revenue
$20M
Series C · Sep 2021
Key investors in Ocrolus
QED Investors
RiverPark Ventures
Bullpen Capital
FinTech Collective
ValueStream Ventures
Laconia
About Ocrolus
Ocrolus is a New York-based financial document automation platform, founded in 2014, that combines AI, machine learning, OCR, and human-in-the-loop quality control to classify, capture, and analyze financial documents with over 99% accuracy. The platform helps lenders automate underwriting, credit scoring, and fraud detection across small business, consumer, auto, and mortgage lending. Its customers include Brex, PayPal, SoFi, Plaid, LendingClub, and Cross River Bank.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$20M (Sep 2021)
Valuation
$500M (Sep 2021)
Ocrolus Valuation
Ocrolus is currently valued at $500M, based on its Series C in September 2021.
The $80M round was led by Fin Capital.
Ocrolus valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series C | $500M | 25.0x |
Ocrolus Revenue
Ocrolus' latest recorded revenue is $20M, as of its Series C in September 2021. At a $500M valuation, that implies a 25.0x revenue multiple.
Ocrolus revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $20M | $500M | 25.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Ocrolus Funding History
Ocrolus has raised a total of $127M across 6 funding rounds.
Ocrolus' first fundraising round was a $2M seed round in September 2014. The most recent completed round was a $80M Series C in September 2021.
Ocrolus funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series C | Fin Capital (lead) | $80M | $500M | Ocrolus is a New York-based financial document automation platform founded in 2014, leveraging AI, machine learning, OCR, big data, and human-in-the-loop (HITL) optimization to classify, capture, detect, and analyze financial documents with over 99% accuracy, aiding lenders in automating underwriting, credit scoring, and processing diverse data sources for better lending decisions. The platform has powered workflows for high-profile fintech clients including Brex, Enova, LendingClub, PayPal, Plaid, SoFi, Cross River Bank, Square, BlueVine, and Womply, notably helping process over 2.5 million Paycheck Protection Loans in the prior 18 months. On September 23, 2021, Ocrolus raised $80 million in Series C funding led by Fin Capital (also referred to as Fin VC), with participation from Thomvest Ventures, Mubadala Capital/Ventures, Oak HC/FT, FinTech Collective, QED Investors, Bullpen Capital, ValueStream Ventures, Laconia, RiverPark Ventures, Invicta Growth, Stage II Capital, and Cross River Bank. This round valued the company at north of or over $500 million, bringing total funding to $127 million across six rounds. Proceeds will expand U.S. operations, aggressively develop products for mortgage lending and banking sectors, hire for machine learning and data science teams, and open a Florida data quality control facility for onshore data needs. Ocrolus demonstrated strong traction, growing annual recurring revenue (ARR) from $1 million in Q1 2018 to $20 million by Q2 2021, achieved with only $10 million in total sales and marketing spend, highlighting efficient scaling without a large sales force initially as fintech lenders adopted the superior 10x faster processing. The company recently won a Best of Show award at FinovateFall for its document analysis technology, capitalizing on COVID-accelerated digitization in lending. In a competitive intelligent document processing market with 27 vendors per Everest Group, including Black Knight's Underwriter Assist and Google Cloud's Lending DocAI, Ocrolus positions as the category leader in back-office automation, now targeting traditional banks and mortgage lenders adopting digital workflows. Fin Capital's Logan Allin joined the board post-investment. |
| Aug 2020 | Series B | FinTech Collective (lead); QED Investors (lead) | $14M | - | Ocrolus is a document automation platform that provides financial services firms with infrastructure to classify financial documents, capture key data, detect fraud, and analyze cash flows for credit underwriting and decision-making. The company's platform achieves over 99% accuracy in document analysis and enables lenders to make faster, data-driven lending decisions. By the time of its Series C round in September 2021, the company had raised over $100 million cumulatively and achieved a valuation exceeding $500 million, demonstrating significant growth and market traction. The company counts major fintech and financial services firms among its customers, including PayPal, Brex, SoFi, Plaid, LendingClub, and Enova. |
| Jun 2019 | Series B | Oak HC/FT (lead); Stage 2 Capital; RiverPark Ventures; Laconia; Bullpen Capital; ValueStream Ventures; QED Investors; FinTech Collective | $24M | - | Ocrolus is a financial document automation platform that combines AI, machine learning, and human-in-the-loop quality control to analyze documents like bank statements with over 99% accuracy, enabling lenders to automate underwriting workflows in small business, consumer, auto, and mortgage lending. The company powers digital lending for customers including PayPal, Brex, SoFi, and Plaid, delivering standardized actionable data for credit decisions and fraud detection. Founded in 2014, Ocrolus emerged as a RegTech solution for transparent analysis in credit decisioning. On June 25, 2019, Ocrolus closed a $24 million Series B funding round led by Oak HC/FT, with participation from FinTech Collective, Bullpen Capital, QED Investors, and existing investors including Laconia Capital Group, RiverPark Ventures, and ValueStream Ventures. This followed a $4 million Series A in April 2018 led by Bullpen Capital. The new capital was earmarked to automate underwriting for lenders and banks, expand into new verticals, develop workflows for additional document types, and enhance fraud detection and analytics. Since the Series A, Ocrolus achieved five-times growth and zero customer churn, building on success in small business lending to enter consumer, auto, and mortgage sectors. Later rounds included an $80 million Series C at over $500 million valuation with the same investor base plus others, bringing total funding to $127 million by that time, and further extensions reaching over $136 million. |
| Apr 2018 | Series A | Bullpen Capital (lead); Laconia (lead); Vince Passione; RiverPark Ventures; Differential Ventures; Sam Hodges; ValueStream Ventures; Hugh Nguyen; Ram Ahluwalia; QED Investors; Bill King; Tanya Barnes | $4M | - | Ocrolus is a financial document automation platform that analyzes bank statements, loan applications, tax documents, and pay stubs to power digital lending, underwriting, and credit decisions for fintechs, banks, and mortgage lenders. The company serves customers including PayPal, Brex, SoFi, Plaid, Enova, and LendingClub, achieving over 99% accuracy in data capture, cash flow analysis, and fraud detection using AI, OCR, machine learning, and human-in-the-loop verification. On April 9, 2018, Ocrolus raised a $4 million Series A round led by Bullpen Capital and Laconia Capital Group, with participation from QED Investors, ValueStream Ventures, RiverPark Ventures, Differential Ventures, and individual investors including Sam Hodges, Vince Passione, Ram Ahluwalia, Bill King, Hugh Nguyen, and Tanya Barnes. The round brought total funding to $7.3 million across two rounds. Funds were allocated to accelerate deployment of turnkey data verification solutions for lenders in financial services and healthcare, expand the team, and scale operations. At the time, Ocrolus processed millions of data points daily for over 300 paying users, including 25 lenders, with plans to triple that number by year-end. Revenue reached $1 million in the first quarter of 2018. The platform validated financials at lower cost and 3-5x faster than traditional methods, demonstrating strong product-market fit in lending. David Arcara of Laconia Capital Group and Nick Adams of Differential Ventures joined the board, with Paul Martino of Bullpen Capital, Amias Gerety of QED Investors, and Karl Antle of ValueStream Ventures as observers. |
| Jul 2016 | Seed | ARC Angel Fund; Green Egg Ventures; Elevate Innovation Partners; Executive Forum Angels; Harvard Business School; Boro Capital | $3M | - | - |
| Sep 2014 | Seed | - | $2M | - | - |
Who has invested in Ocrolus?
22 investors have backed Ocrolus across its funding rounds, including QED Investors, RiverPark Ventures, Bullpen Capital, FinTech Collective, ValueStream Ventures and Laconia.
Lead investors include Fin Capital, FinTech Collective, QED Investors, Oak HC/FT, Bullpen Capital and 1 other investor.
Ocrolus Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Apr 2018 | ||
| 2 | Participant | Apr 2018 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Lead | Apr 2018 | ||
| 2 | Participant | Apr 2018 | ||
| 2 | Lead | Jun 2019 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Apr 2018 | ||
| 1 | Participant | Apr 2018 | ||
| 1 | Participant | Apr 2018 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialOcrolus Competitors
Ocrolus competitors include listed companies like Optasia and Vitec Software, and private ones like Akur8, Suki, Plenful and Rad AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $432M | - | ||
| Private | $105M | - | $500M | - | ||
| Private | - | - | $487M | - | ||
| Private | - | - | $525M | - | ||
| Publicly listed | $265M | $79M | $1.1B | 3.6x | ||
| Publicly listed | $371M | $151M | $1B | 3.5x |
Ocrolus Public Comps
Ocrolus is still privately-owned, but its public comps include Abaxx Technologies, Hightech Payment Systems, Linkage Software, Beijing Hanyi Innovation, Intelligo Technology, Qualco Group, JinXianDai Information, Brilliance Technology, AMTD Digital and Client Service International.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $749K | ($28M) | 600.9x | 136.9x | (16.1x) | (10.0x) | |||
| $156M | $29M | 3.3x | 3.2x | 17.6x | 18.1x | |||
| $157M | $24M | 2.7x | 4.2x | 17.7x | 14.2x | |||
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $50M | $20M | 8.4x | 8.4x | 20.8x | - | |||
| $248M | $40M | 2.1x | 1.9x | 13.0x | 9.6x | |||
| $46M | ($10M) | 10.1x | - | (47.7x) | - | |||
| $160M | $2M | 3.5x | 2.5x | 364.9x | 61.5x | |||
This data is available for Pro users. Sign up to see all Ocrolus competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ocrolus
| When was Ocrolus founded? | Ocrolus was founded in 2014. |
| Where is Ocrolus headquartered? | Ocrolus is headquartered in United States. |
| Is Ocrolus publicly listed? | No, Ocrolus is a private, VC-backed company. |
| What is Ocrolus' valuation? | Ocrolus was last valued at $500M in its Series C in September 2021. |
| How much funding has Ocrolus raised? | Ocrolus has raised $127M across 6 funding rounds. |
| What was Ocrolus' last funding round? | Ocrolus' last funding round was a $80M Series C in September 2021, led by Fin Capital. |
| Who are Ocrolus' investors? | Ocrolus' investors include QED Investors, RiverPark Ventures, Laconia, Bullpen Capital, ValueStream Ventures, FinTech Collective, Stage 2 Capital, ARC Angel Fund, Green Egg Ventures, Elevate Innovation Partners and 12 others. |
| What is Ocrolus' revenue? | Ocrolus' latest recorded revenue is $20M (September 2021). |
| What is Ocrolus' revenue multiple? | Ocrolus' latest valuation implies a 25.0x revenue multiple ($500M valuation on $20M of revenue). |
| Which companies are comparable to Ocrolus? | Companies comparable to Ocrolus include Akur8, Suki, Plenful, Rad AI, Optasia and Vitec Software. |
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