Intelligent Document Processing News: Weekly Recap

In this section, we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, podcasts, reports and more.

What we cover in this week’s recap:


Workist raises €9 million in Series A funding The Berlin-based tech startup, which uses its AI platform to automate document processing for B2B transactions, announced €9 million in Series A funding led by Earlybird Venture Capital. This round brings Workist’s total funding to €12 million. Workist will use the new funding to strengthen its product and technology team, expand its range of applications, and bring its automation tool to global enterprises.

Parashift and IMTF partner to speed up document processes IDP vendor Parashift announced a technology partnership with IMTF, a RegTech solutions provider for financial firms. Parashift integrates its IDP solution with IMTF’s applications. In combination, they aim to help banks and financial institutions worldwide accelerate their document and compliance processes with AI.

UiPath and qBotica expand their partnership UiPath and IDP provider qBotica announced that they have expanded their strategic partnership. Under this partnership, they will introduce Automation Cube, which combines qBotica’s DoqumentAI platform with UiPath’s business automation platform to deliver benefits such as lower total cost of ownership and turnkey automation to their customers.

Veryfi launches free tier for its OCR API platform Veryfi, which helps companies capture, extract and transform unstructured documents into structured data, announced the launch of a free tier for its OCR API platform. This gives developers full access to OCR with AI capabilities that they can incorporate into their applications without startup costs. This enables faster time to market with more innovation and business agility.

KnowledgeLake provides the California State Treasurer’s Office with IDP IDP provider KnowledgeLake announced that the California State Treasurer’s Office has selected the company’s cloud-native Intelligent Document Processing solution to capture, process and manage its mission-critical documents. KnowledgeLake will help the State Treasurer’s Office migrate from a legacy content management system to the KnowledgeLake Cloud. streamlines claims processing via Guidewire Marketplace Natural language-based AI company has announced that its app is now available in the Guidewire Marketplace. enables insurers to turn speech into data and extract relevant data points, identify and reduce claims, and accelerate decision-making and claims resolution.

ProcessMaker acquires IDP provider Doculayer Low-code BPM and workflow automation company ProcessMaker has announced the acquisition of Doculayer to integrate Intelligent Document Processing into its BPM platform. This will enable ProcessMaker’s global customer base to reduce inefficiencies around documents and automate complex business processes.


Get a glimpse into the journey of Rossum’s co-founder, Tomas Gogar Read this article if you are interested in the founding story of IDP provider Rossum, from the perspective of Tomas Gogar, one of the co-founders and CEO. He provides interesting insights into how he, along with his friends Petr Baudis and Tomas Tunys, dropped out of university to found Rossum and take the company last year to $100 million in what has been the largest Series A Funding in Eastern Europe to date.

Upcoming webinar:

How a telecom major saved $20 million using Intelligent Document Processing Join EdgeVerve, an AI and automation solutions provider, for this webinar on October 13, 2022, to learn how enterprises are unlocking the business value of their documents with IDP as part of their digital transformation. Plus, learn how a major telecommunications company was able to save $20 million using IDP.

See you next week!

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