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- Ripcord
Ripcord Revenue, Valuation, Funding & Investors
Ripcord is valued at $250M as of December 2017, a 10.9x multiple on its last reported $23M revenue.
Last Ripcord valuation
$250M
Series B · Dec 2017
Last Ripcord funding round
$32M
Series C · Apr 2024
Ripcord revenue
$23M
Series B · Dec 2017
Key investors in Ripcord
Kleiner Perkins
Lux Capital
GV
Icon Ventures
Tyche Partners
Steve Wozniak
About Ripcord
Ripcord develops a robotic platform for digitizing paper documents headquartered in Hayward, California. The system uses vision-guided robots, AI, and machine learning to scan, classify, and extract data from archives creating searchable digital twins. Ripcord serves enterprises in industries like insurance and healthcare, processing millions of pages annually with 99% accuracy rates.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$23M (Dec 2017)
Valuation
$250M (Dec 2017)
Ripcord Valuation
Ripcord is currently valued at $250M, based on its Series B in December 2017.
The $25M round was led by GV, with participation from Tyche Partners, Kleiner Perkins, Lux Capital, Icon Ventures and Titanium Ventures.
Ripcord valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2017 | Series B | $250M | 10.9x |
Ripcord Revenue
Ripcord's latest recorded revenue is $23M, as of its Series B in December 2017. At a $250M valuation, that implies a 10.9x revenue multiple.
Ripcord revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2017 | $23M | $250M | 10.9x | Series B |
* 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.
Ripcord Funding History
Ripcord has raised a total of $134M across 5 funding rounds.
Ripcord's first fundraising round was a $7M Series A in May 2016. The most recent completed round was a $32M Series C in April 2024.
Ripcord funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Series C | 15th Rock (lead); GV (lead); Icon Ventures (lead); Kleiner Perkins (lead); Lux Capital (lead); MUFG Innovation Partners; FUJIFILM | $32M | - | Ripcord, a San Francisco-based leader in robotic digitization, document intelligence, and generative AI, closed a $32 million funding round on April 16, 2024. The round was led by existing investors 15th Rock, GV (Google Ventures), Icon Ventures, Kleiner Perkins, Lux Capital, and MUFG Innovation Partners (MUIP), with additional equity from FUJIFILM Business Innovation, Ripcord's joint venture partner in Japan. The capital aims to fuel growth and innovation in robotics, AI-driven document processing, and platforms like Docufai for GenAI document discovery. Ripcord demonstrated strong momentum with 72% revenue growth in 2023 after over 95% growth in 2022, driven by major clients including Coca-Cola Bottlers, the Internal Revenue Service (IRS), MUFG Bank, and a large Japanese property management firm. The company's proprietary robotics automate labor-intensive digitization tasks, while its AI platform extracts insights from documents, positioning it as a disruptor in intelligent document processing (IDP). CEO Sam Fahmy highlighted supersonic advancements in robotics and AI transforming document interactions, emphasizing Ripcord's leadership with investor and partner support. VP Todd Bailey noted the platform's role in unlocking data potential. |
| Feb 2020 | Series B | CDK Global (lead); Tyche Partners; Kleiner Perkins; GV; Lux Capital; Icon Ventures; Baidu; Baidu Ventures; Silicon Valley Bank; Steve Wozniak | $45M | - | Ripcord is a robotics digitization company based in Hayward, California, that uses robots, AI, and cloud software to scan, index, categorize, and digitize paper records, making them searchable and integrable into business processes, targeting industries like automotive retail, records management, RPA, MPS, and ECM in a $62 billion market. The company announced a $45 million Series B2 funding round on February 25, 2020, led by CDK Global, with participation from existing investors including Kleiner Perkins, GV (Google Ventures), Baidu, Lux Capital, Silicon Valley Bank, Steve Wozniak, Icon Ventures, and Tyche Partners, bringing total funding to over $120 million. CDK Global, a provider of automotive retail technology solutions serving 30,000 locations globally with $2 billion in revenues, partnered with Ripcord to develop joint solutions for digital transformation, modernizing car buying by reducing paperwork and manual data entry to improve compliance, margins, and customer experience. The funding supported Ripcord's global scaling and expansion into vertical markets like automotive, with CEO Alex Fielding highlighting its potential to accelerate new car owners getting on the road faster. CDK Global's CEO Brian Krzanich emphasized Ripcord's intelligent digitization aligning with digital-driven customer experiences in regulated industries. Post-round, Ripcord achieved milestones like industry recognition from AI Breakthrough Awards as Best Robotics Process Automation Solution and a joint venture with Fujifilm to redefine the $75 billion business process services market, enhancing agility amid COVID-19 demands for location-free access to digitized records. |
| Dec 2017 | Series B | GV (lead); Tyche Partners; Kleiner Perkins; Lux Capital; Icon Ventures; Titanium Ventures | $25M | $250M | Ripcord is a Bay Area startup founded in 2015 that specializes in digitizing paper records for large corporations using proprietary robots, AI, machine learning, and cloud-based software called Canopy for accessing digitized records. The company offers an end-to-end solution including hardware, operations, and software, distinguishing itself from competitors who outsource components. By 2017, Ripcord had secured deals with Fortune 100 companies, UCLA, and Bechtel, positioning it as a leader in records management and intelligent automation. This followed a $9.5M Series A in March 2017 and preceded a $40M Series B in August 2017 led by Icon Ventures, which funded robot development, staff expansion from 50 to over 150 by 2018, a new Hayward facility, and market exploration including robot licensing. Later traction includes 95%+ revenue growth in 2022 and 72% in 2023, driven by clients like Coca-Cola Bottlers, IRS, MUFG Bank, and Japanese property firms, culminating in a $32M funding round in May 2024 led by existing investors including Kleiner Perkins, Google Ventures, Icon Ventures, and Lux Capital, with participation from MUIP, 15th Rock, and FUJIFILM Business Innovation. Ripcord has raised approximately $64M total funding historically and acquired companies like LearningPal in 2022. Ripcord operates in the intelligent document processing space against competitors like Hyperscience and Ocrolus, focusing on robotic digitization, workflow automation, OCR, and generative AI for industries including financial services, healthcare, and government. |
| Aug 2017 | Series B | Icon Ventures (lead); Tyche Partners; Kleiner Perkins; GV; Lux Capital; Titanium Ventures; Baidu Ventures; Silicon Valley Bank; Legend Star; Steve Wozniak | $25M | - | Ripcord is a robotics-based document digitization company transforming the records management industry by automating the scanning, indexing, and categorization of paper records. The company offers an end-to-end solution combining proprietary hardware robots, Ripcord Canopy (cloud-based software), and AI/ML capabilities to help enterprises digitize and access records securely. On August 17, 2017, Ripcord announced a $40 million Series B funding round led by Icon Ventures, consisting of $25 million in equity and $15 million in debt, with participation from Kleiner Perkins, Lux Capital, and Silicon Valley Bank. Icon Ventures General Partner Jeb Miller joined Ripcord's board as part of the deal. By the time of the Series B, Ripcord had achieved significant early traction, counting Fortune 100 companies, UCLA, and construction giant Bechtel among its customers following its public launch in March 2017. The company employed approximately 50 people at the time and planned to expand headcount by more than 100 by the end of 2018, with operations based in Hayward, California. The funding was allocated toward developing additional robots, staff expansion, and exploring new markets, including potential licensing of proprietary robotics to third parties. Ripcord positioned itself as the only comprehensive provider addressing the end-to-end records management problem across hardware, software, and services. |
| May 2016 | Series A | Kleiner Perkins (lead); CSC Upshot; Lux Capital; Comet Labs; KittyHawk; Legend Star; Steve Wozniak | $7M | - | - |
Who has invested in Ripcord?
18 investors have backed Ripcord across its funding rounds, including Kleiner Perkins, Lux Capital, GV, Icon Ventures, Tyche Partners and Steve Wozniak.
Lead investors include 15th Rock, GV, Icon Ventures, Kleiner Perkins, Lux Capital and 1 other investor.
Ripcord Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | May 2016 | ||
| 5 | Lead | May 2016 | ||
| 4 | Lead | Aug 2017 | ||
| 4 | Lead | Aug 2017 | ||
| 3 | Participant | Aug 2017 | ||
| 3 | Participant | May 2016 | ||
| 2 | Participant | Aug 2017 | ||
| 2 | Participant | Aug 2017 | ||
| 2 | Participant | Aug 2017 | ||
| 2 | Participant | May 2016 | ||
| 1 | Participant | May 2016 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Lead | Apr 2024 | ||
This data is available for Pro users. Sign up to see all 18 Ripcord investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Ripcord
Ripcord has acquired 3 companies to date.
Last acquisition by Ripcord was on January 29th 2025. Ripcord acquired VASTEC for undisclosed valuation.
Latest Acquisitions by Ripcord
| Description | - | LearningPal is a Taipei-based AI platform for digitizing handwritten documents into structured data using handwriting recognition technology. It processes forms, invoices, and notes from various templates, integrating with enterprise systems like SAP and Oracle for automation in finance and HR departments across Asia. | Engine ML is a San Francisco-based platform accelerating deep learning model training by 50 times through distributed computing optimized for computer vision, NLP, speech, and robotics. Launched in 2019, it eliminates infrastructure setup costs by providing GPU clusters on AWS and GCP with automated scaling. Engine ML serves AI teams at companies like Scale AI and OpenAI, enabling faster iterations on models like ResNet and BERT variants. |
| HQ Country | |||
| HQ City | - | San Francisco, CA | San Francisco, CA |
| Deal Date | 29 Jan 2025 | 21 Apr 2022 | 9 Dec 2020 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Ripcord acquisitions and their M&A valuation multiples. Start Free Trial | |||
Ripcord Competitors
Ripcord competitors include listed companies like Coveo Solutions and Abeja, and private ones like Culture Biosciences, Chooch, Factory Bucket and intenseye.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $220M | - | ||
| Private | - | - | $217M | - | ||
| Private | - | - | $300M | - | ||
| Private | $19M | - | $300M | 15.8x | ||
| Publicly listed | $148M | ($25M) | $276M | 1.2x | ||
| Publicly listed | $23M | $3M | $208M | 6.4x |
Ripcord Public Comps
Ripcord is still privately-owned, but its public comps include Hunan Copote Science, Aurotek, AInnovation Technology, Butler National, AIAI Holdings, CS Disco, Angel Robotics, Coveo Solutions, Hefei Jingsong and eVISO.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $79M | ($63M) | 3.6x | - | (4.5x) | - | |||
| $78M | $8M | 3.2x | - | 32.2x | - | |||
| $226M | ($30M) | 0.7x | 0.8x | (5.7x) | (4.6x) | |||
| $98M | $37M | 2.7x | - | 7.0x | - | |||
| $272M | ($194M) | 1.0x | - | (1.4x) | - | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $3M | ($6M) | 61.7x | - | (33.3x) | - | |||
| $148M | ($25M) | 1.2x | 1.2x | (7.3x) | 107.6x | |||
This data is available for Pro users. Sign up to see all Ripcord competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ripcord
| When was Ripcord founded? | Ripcord was founded in 2015. |
| Where is Ripcord headquartered? | Ripcord is headquartered in San Francisco, CA, United States. |
| Is Ripcord publicly listed? | No, Ripcord is a private, VC-backed company. |
| What is Ripcord's valuation? | Ripcord was last valued at $250M in its Series B in December 2017. |
| How much funding has Ripcord raised? | Ripcord has raised $134M across 5 funding rounds. |
| What was Ripcord's last funding round? | Ripcord's last funding round was a $32M Series C in April 2024, led by 15th Rock, GV, Icon Ventures, Kleiner Perkins and 1 other investor. |
| Who are Ripcord's investors? | Ripcord's investors include Kleiner Perkins, Lux Capital, GV, Icon Ventures, Tyche Partners, Steve Wozniak, Titanium Ventures, Baidu Ventures, Silicon Valley Bank, Legend Star and 8 others. |
| What is Ripcord's revenue? | Ripcord's latest recorded revenue is $23M (December 2017). |
| What is Ripcord's revenue multiple? | Ripcord's latest valuation implies a 10.9x revenue multiple ($250M valuation on $23M of revenue). |
| Which companies are comparable to Ripcord? | Companies comparable to Ripcord include Culture Biosciences, Chooch, Factory Bucket, intenseye, Coveo Solutions and Abeja. |
| How many companies has Ripcord acquired? | Ripcord has acquired 3 companies, including VASTEC, LearningPal and Engine ML. |
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