fileAI, the world’s only horizontal file processing agent and AI workflow automation company, today announced it has raised USD 14m Series A funding. This round, led by returning enterprise solution investors Illuminate Financial, Antler Elevate, Insignia, Heinemann Group and others, brings the company's total funds raised to just over USD 20M. 1982 Ventures is an early backer of fileAI. 

The funding will accelerate fileAI’s mission to enhance its proprietary AI capabilities as it emerges as the solution for enterprises to shave millions of dollars off their back-office costs, while unlocking new efficiency through the power of AI. With hundreds of clients globally, including MS&AD, Toshiba, KFC, DirectAsia, and Nippon, the funds will support product development to deepen their expertise in AI file management.

Over (80-90%) of the world's data is unstructured, posing a significant challenge for businesses trying to manage various file types (like PDFs, spreadsheets, and emails) that often come in different languages and formats. fileAI solves this problem using sophisticated predictive and generative AI. Their technology streamlines workflows for processing text, images, and videos, and combines them with existing business tools. This leads to lower costs, increased productivity, and better data visibility. 

In 2024, fileAI processed and automated over 200 million pages and files, saving clients approximately 420,000 hours and over $7 million. Serving diverse sectors like finance, insurance, accounting, and manufacturing, fileAI has become a valuable partner for many global businesses. Its ability to process files in over 200 languages makes it a particularly suitable solution for multinational companies. 

"This funding milestone marks a significant step forward in our journey to redefine enterprise automation with AI," said Christian Schneider, CEO and Co-founder of fileAI. “We're empowering businesses to transform from within by delivering AI applications that slash operating expenses by up to 90% while boosting the topline by unlocking hidden value in unstructured data. This investment will fuel our R&D and enable us to deliver even greater value to our clients as we unlock unparalleled efficiency with AI." 

Herston Elton Powers, Founding Managing Partner of 1982 Ventures, mentioned "The market for enterprise AI is massive, and fileAI is perfectly positioned to lead at a global level. fileAI addresses a critical pain point for businesses across every sector, and this funding round will enable them to capitalize on the immense opportunity ahead."  

After three years of intensive research and development, fileAI is set to unveil its new platform in Q1. Tailored for Finance, Operations, and Legal teams, this innovative solution uses proprietary file processing models to automate workflows for long-form documents, offering unparalleled capabilities in document comparison, discrepancy detection, data validation, and compliance assurance. The fileAI platform revolutionizes unstructured data management by enabling businesses to process and understand large document volumes with precision and ease, significantly reducing costs associated with manual file handling while unlocking value in company data through AI-driven autonomous navigation of file data in accordance with internal and regulatory standards. Interested parties can now register for priority launch access here. 

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