Nanonets lands $10 million to expedite document processing with AI

Organizations are devoting more resources to deploying intelligent document processing, particularly as they embark on digital transformations. As Deloitte explains, intelligent document processing automates the processing of data contained in documents -- understanding what the document is about, what information it contains, extracting that information, and sending it to the right place. According to Everest Group, the global market for intelligent document processing was worth between $700 million and $750 million in 2020. Leveraging a blend of AI, including computer vision and natural language processing, intelligent document processing can help to automate tasks like invoice processing, insurance claims, patient records, proof of delivery, and order forms. A range of startups offer these types of services, including Mindee, Zuva, Rossum, PandaDoc, and Anvil.