Vic.ai Raises $52M in Series C Funding

Vic.ai, a New York City and Oslo, Norway-based supplier of an AI platform for accounts payable (AP) operations, raised $52M in Series C funding.

The spherical, which introduced whole capital raised up to now to $115m, was led by GGV Capital and ICONIQ Growth with participation from Cowboy Ventures and Costanoa Ventures.

The firm intends to make use of the funds so as to add modules to its platform in 2023.

Founded in 2017 by Alexander Hagrup and Kristoffer Roil, Vic.ai gives a platform for real-time, autonomous accounting and monetary intelligence, which makes use of autonomy and intelligence to permit 10,000+ clients to optimize their finance processes.

In the subsequent section of its progress, Vic.ai will develop its AI resolution to incorporate company bank cards, buy orders, and invoice pay, offering a spend intelligence providing that helps clients optimize their non-payroll prices and make extra knowledgeable spending choices. The firm can even provide new capabilities for safe and optimized cost execution in addition to AI-based three-way PO matching in early 2023, with card transactions following later in the 12 months.

Vic.ai’s new choices would be the newest in its suite of boundary-pushing options, together with Autopilot, Autonomous Approval Flows and Spend Intelligence, which offer the inspiration for autonomous accounting.

FinSMEs

14/12/2022

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