DocSumo, a document AI startup founded by Rushabh Sheth and Bikram Dahal has raised $3.5 million in seed capital led by Common Ocean with participation from Fifth Wall, Arbor Realty Trust, and existing investor Better Capital.
Docsumo plans to utilise the fresh funds to expand its client base in the North American market and grow the team. Founded in January 2019, this startup helps enterprises capture, validate and analyse data from unstructured documents for automated decisions.
The startup’s core technology platform helps commercial lenders and insurers read financial statements, tax returns, insurance policies, and other documents required for credit and insurance applications.