Company Research Report: Nanonets
Company Overview
Name
Nanonets
Mission Statement
To make machine learning as ubiquitous as databases.
Founding and History
Nanonets was founded in 2017.
Founders
No information is available.
Key People
- Sarthak Jain - CEO and Co-founder
- Paras Khaitan - No information is available.
- Prathamesh Juvatkar - Building Nanonets
- Abhinav Chaturvedi - No information is available.
- Mukul Arora - No information is available.
Headquarters
San Francisco, California, USA
Number of Employees
Nanonets has between 51-200 employees.
Revenue
No information is available.
Notable Achievements
Nanonets is known for enabling self-service artificial intelligence, simplifying the adoption of AI and machine learning with minimal training data or knowledge of machine learning.
Products
Nanonets AP Automation
- Description: A software solution designed to automate the accounts payable process.
- Key Features:
- Invoice Data Extraction
- Approval Workflow Automation
- Integration with major ERPs/CRMs
Nanonets OCR
- Description: Optical Character Recognition software designed for data extraction from various document types.
- Key Features:
- Supports 60+ languages
- Works with various document types irrespective of the region
- Customizable OCR solutions
Recent Developments
Recent Funding
- Date: April 12, 2024
- Type: Series B
- Amount: $29 million
- Investors: Led by Accel, with continued support from Elevation Capital and Y Combinator.
New Product Developments
- AI Integration with JAMIX Oy/Inc. Kitchen Intelligence System:
- Date: August 2024
- Description: Integration to digitize and streamline delivery information from printed documents for enhanced order management, accuracy, and reduced labor costs in the foodservice industry.
User Base Expansion
- Growth: Quadrupled user base in the last 12 months.
- International Presence: Expanded presence in Asia and Europe in addition to the US.
Revenue Growth
- Growth Rate: 2x year-over-year revenue growth.
Team Expansion
- Growth: Team size increased by 25% internationally in the last year.
Key Partnerships
JAMIX Oy/Inc. Kitchen Intelligence System
- Partnership: Integration to enhance order management, reduce manual data entry errors, and improve accuracy in foodservice operations.
Conclusion
Nanonets is a rapidly growing company firmly positioned at the intersection of AI and enterprise automation. With significant recent funding, strategic partnerships, and a robust product lineup, Nanonets continues to expand its market presence and technological capabilities.