Paris-based Document Intelligence Solutions startup, reciTAL has raised €3.5M in a funding round held in September 2020, led by Breega, a European VC firm.
Capital raised will be used by the startup to enhance its development and become the go-to platform for automated data extraction.
Gilles Moyse and Frédéric Allary founded reciTAL in 2017. They believe that the latest advancements in Natural Language Processing (NLP) when applied to unstructured data (documents, emails, contacts, etc.) will have a big impact on companies, similar to the effect ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) has had on structured data.
It’s Document Intelligence solutions enable quick information extraction, contract analysis, email flow processing, risk valuation, and due diligence processes, etc. This turns unstructured company data into a viable benefit, enhancing customer relations, team productivity, and making risk management more dependable.
The startup presently has 30 employees along with a team of 6 PhDs that frequently feature in top international conferences. They also have a scientific committee that consists of Stuart Russell, IA Professor at UC Berkeley and Antoine Bordes, Director of Facebook AI Research in Europe.
CEO Gilles Moyse was quoted to say, “This first round of funding comes after several successful roll-outs with leading players. We were able to validate our approach and measure the value-addition of AI for processing emails and documents. With Breega, we are going to perfect and industrialize our solution and accelerate our business development.”
François PAULUS, Founding- Partner of Breega further added that reciTAL’s Document Intelligence platform is a blessing for businesses as it helps search and retrieve any sort of text document with a simple request in normal language within a matter of seconds. His company Breega, finds the startup’s solution very relevant in today’s time and also places immense faith in the team’s expertise in AI.
He ends by saying, “We are proud to be accompanying them in their mission to become the reference in NLP solutions.”
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
