Vic.ai Funding, Investors & Competitors

Vic.ai has raised $115M across 4 funding rounds, most recently a $52M Series C in December 2022.

Last Vic.ai funding round

$52M

Series C · Dec 2022

Cumulative funding Vic.ai raised

$115M

across 4 funding rounds

Key investors in Vic.ai

  • Cowboy Ventures
  • Notable Capital
  • Costanoa Ventures
  • ICONIQ Capital
  • Shan-Lyn Ma
  • Farvatn Venture
  • Connectivity Ventures Fund
  • Axan Ventures

Vic.ai Overview

About Vic.ai

Vic.ai is an AI platform for autonomous accounting and financial intelligence, founded in Norway. Its technology automates invoice processing, approval workflows, and related integrations for enterprise finance teams, achieving over 95% automation accuracy using models trained on proprietary audited data. Customers include HSB, Intercom, KPMG, and PwC across the U.S. and Europe.


Founded

2017

HQ

United StatesUnited States

Website

vic.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Vic.ai Funding History

Vic.ai has raised a total of $115M across 4 funding rounds.

Vic.ai's first fundraising round was a $2M seed round in August 2017. The most recent completed round was a $52M Series C in December 2022.

Vic.ai funding rounds

Vic.ai funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2022Series CICONIQ Capital (lead); Notable Capital (lead); Costanoa Ventures; Cowboy Ventures$52MVic.ai, an AI platform for real-time autonomous accounting and financial intelligence, announced $52 million in Series C funding on December 13, 2022. The round was led by GGV Capital and ICONIQ Growth, with participation from Cowboy Ventures and Costanoa Ventures, bringing total capital raised to $115 million. The funding aims to expand the platform with new modules for purchase orders, bill pay, corporate credit cards, and spend analysis in 2023 to optimize enterprise finance processes. Vic.ai's technology focuses on high-accuracy invoice processing, approval workflows, and integrations, trained on proprietary audited data to achieve over 95% automation accuracy for enterprise customers. Customers include HSB, Intercom, KPMG, and PwC. Investors highlighted Vic.ai's cost savings, customer satisfaction, and growth potential in disrupting manual accounting. The company positions itself as a leader in AI-driven enterprise fintech, competing in invoice automation and FP&A intelligence.
Sep 2021Series BICONIQ Capital (lead); Costanoa Ventures; Cowboy Ventures; Notable Capital$50MVic.ai is an AI platform for autonomous accounting and financial intelligence, specializing in real-time invoice processing, approval workflows, and integrations to automate enterprise finance operations with high accuracy. Founded by Alex and Kris in Norway with global ambitions, it targets U.S. and European customers including HSB, Intercom, KPMG, and PwC, aiming to expand to all manual accounting processes and FP&A. In January 2021, Vic.ai closed a $50 million Series B funding round led by ICONIQ Growth, with participation from Costanoa Ventures, Cowboy Ventures, and GGV Capital, bringing total equity raised to $63 million. The capital was earmarked for expanding its offerings and launching new AI capabilities in the U.S. and Europe. ICONIQ Growth highlighted Vic.ai's proprietary AI models trained on audited invoice data, achieving superior automation and customization for high-volume enterprise customers. By the subsequent Series C in December 2022 ($52 million co-led by GGV Capital and ICONIQ Growth, with Cowboy Ventures and Costanoa Ventures, total raised $115 million), Vic.ai reported tripling its contracted ARR from $5 million in 2021, tripling headcount to 106 employees, and growing active users 280% year-over-year, while serving 60 enterprise customers and delivering nearly $200 million in customer cost savings. The company plans to use Series C funds for customer acquisition in North America and new modules like corporate credit cards, purchase orders, bill pay, and spend intelligence to optimize non-payroll costs. Vic.ai positions itself ahead of competitors through AI purism, avoiding rule-based logic, and partnerships in the AI field.
Sep 2019Series ANotable Capital (lead); Shan-Lyn Ma; Costanoa Ventures; Cowboy Ventures$11M-
Aug 2017SeedCowboy Ventures (lead); Farvatn Venture; Shan-Lyn Ma; Connectivity Ventures Fund; Axan Ventures$2M-

Who has invested in Vic.ai?

8 investors have backed Vic.ai across its funding rounds, including Cowboy Ventures, Notable Capital, Costanoa Ventures, ICONIQ Capital, Shan-Lyn Ma and Farvatn Venture.

Lead investors include ICONIQ Capital, Notable Capital and Cowboy Ventures.


Vic.ai Investors

Investors in Vic.ai by funding rounds participated
InvestorHQRoundsRoleFirst check
Cowboy VenturesUnited StatesSan Francisco, CA4LeadAug 2017
Costanoa VenturesUnited StatesSan Francisco, CA3ParticipantSep 2019
Notable CapitalUnited StatesSan Francisco, CA3LeadSep 2019
ICONIQ CapitalUnited StatesSan Francisco, CA2LeadSep 2021
Shan-Lyn MaUnited StatesUnited States2ParticipantAug 2017
Farvatn VentureUnited StatesSan Francisco, CA1ParticipantAug 2017

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Vic.ai Competitors

Vic.ai competitors include listed companies like SAP and Workday, and private ones like Genesys, Legora, Factory and Anthropic.

Public and private companies comparable to Vic.ai
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
GenesysUnited StatesSan Francisco, CAPrivate$2.1B$900M$15B7.1x
LegoraSwedenStockholmPrivate$100M-$5.6B56.0x
FactoryUnited StatesSan Francisco, CAPrivate--$5B-
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x

Vic.ai Public Comps

Vic.ai is still privately-owned, but its public comps include Palantir, CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Intuit and Moody's.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x

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Common questions about Vic.ai

When was Vic.ai founded?Vic.ai was founded in 2017.
Where is Vic.ai headquartered?Vic.ai is headquartered in United States.
Is Vic.ai publicly listed?No, Vic.ai is a private, VC-backed company.
How much funding has Vic.ai raised?Vic.ai has raised $115M across 4 funding rounds.
What was Vic.ai's last funding round?Vic.ai's last funding round was a $52M Series C in December 2022, led by ICONIQ Capital and Notable Capital.
Who are Vic.ai's investors?Vic.ai's investors include Cowboy Ventures, Costanoa Ventures, Notable Capital, ICONIQ Capital, Shan-Lyn Ma, Farvatn Venture, Connectivity Ventures Fund and Axan Ventures.
Which companies are comparable to Vic.ai?Companies comparable to Vic.ai include SAP, Workday, Genesys, Legora, Factory and Anthropic.

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