fileAI, a startup specialising in horizontal file processing and AI workflow automation, has announced US$14 million in Series A funding.
This round, led by returning investors Illuminate Financial, Antler Elevate, Insignia, and Heinemann Group, brought the total funding to over US$20 million.
The newly acquired funds will boost product development and deepen the company’s expertise in AI file management.
fileAI positions itself as a crucial solution for enterprises aiming to significantly cut back-office expenses and enhance efficiency through the power of AI. Its technology addresses the challenge of managing unstructured data, which makes up 80-90 per cent of global content, with diverse formats like PDFs, spreadsheets, and emails, often in multiple languages.
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The startup uses advanced predictive and generative AI, which allows for seamless text, image, and video processing, integrating with existing enterprise tools, which leads to reduced costs, greater productivity and improved data transparency.
In 2024, fileAI claims to have processed and automated workflows involving over 200 million pages and files, saving clients an estimated 420,000 hours and over US$7 million.
Its solutions are used across various industries, including financial services, insurance, accounting, and manufacturing. The platform can process files in over 200 languages, making it suitable for multinational companies.
The firm’s global client base includes MS&AD, Toshiba, KFC, DirectAsia, and Nippon.
fileAI is preparing to launch a new platform in Q1 designed for finance, operations, and legal teams. The platform uses proprietary file processing models to automate workflows for long-form documents, providing features such as document comparison, discrepancy detection, data validation, and compliance assurance.
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