Our Investment in Infrrd

Riverside Acceleration Capital (RAC) is thrilled to announce our recent investment in Infrrd, a San Jose, California-based company developing software to help businesses automatically analyze and extract key insights from even the most complex documents.

For industries like lending and insurance, the ability to process and review supporting documents is critical to risk mitigation. These industries often ingest a large volume of paperwork, spanning various data formats including low-quality scans of physical documents. And yet, each document must be meticulously reviewed as any discrepancies or flags can dramatically impact the due diligence process. The result is a slow and often manual review process that is prone to human errors and processing delays.

Founded in 2016, Infrrd is on a mission to revolutionize this document review process through the power of artificial intelligence and other cutting-edge technologies, like machine learning, natural language processing, and optical character recognition. The company has developed an Intelligent Document Processing (IDP) platform designed to automate document processing with accuracy and customizable business rules. The Infrrd platform can process a wide variety of document types, including contracts, financial statements, invoices, medical records, handwriting, and unstructured text. Once ingested, Infrrd can be used to enhance a document’s quality (e.g., sharpening or straightening scanned papers), organize and sort complex records, extract key insights, and identify potential red flags. Customers can also configure the platform’s process intelligence to standardize data formats and replicate the steps traditionally taken in a human review.

Eight years into their journey, the company works with brands like PWC, Sedgwick, Unum, Rocket Mortgage, and State National. Infrrd’s customers span an array of sectors, but the company has found strong product-market-fit within the mortgage origination and auditing industry. Building on this traction, they recently launched MortgageCheck^ai, a version of their platform tailored for mortgage origination and audits. The platform supports over 600 mortgage document types and has helped customers process over $1 billion in loan decisions.

We’ve been impressed with the team, their growth, and their technology. We believe the need for intelligent data processing will only continue to grow, and we look forward to supporting Infrrd as they help businesses globally unlock new levels of productivity and accuracy.

To learn more about Infrrd, visit www.infrrd.ai.