Anvil Raises $5M from Gradient and Citi Ventures to Eliminate Paperwork
Paperwork automation platform helps small businesses apply for $127M in PPP loans through Sunrise Banks in less than 5 days
Anvil, a paperwork automation platform, announced it has raised $5 million in Series A investment. Gradient Ventures—Google’s AI-focused investment fund—led the round, with participation from Citi Ventures, Menlo Ventures, Financial Venture Studio and 122 West.
Anvil is a low-code paperwork automation platform that helps businesses quickly build simple online experiences for paperwork processes. Paperwork is at the core of office work in America; every day millions of forms are shared, filled out, signed, and then returned to the requester for processing. The process is insecure, error-prone, tedious and requires countless human hours to transcribe information from PDFs into various computer systems. Endless forms also waste valuable time and cause frustration for consumers who fill them out, often repeating the same information input over and over.
“The addressable market for Anvil’s solution is limitless,” said Darian Shirazi, general partner at Gradient Ventures. “America spends over $1 trillion each year completing, processing, and storing paperwork. Anvil’s platform has allowed existing paper and PDF forms to be automatically populated with a series of APIs and AI techniques. Processes that used to take weeks now take minutes and allow banks, insurance companies, and many other industries that rely on paperwork to automate and delight customers.”
The flexibility of Anvil’s platform allows its solution to be applied to literally any existing paperwork process. Anvil’s current customers span industries including financial services, human resources, technology and healthcare companies.
“I’m fascinated by technology that brings efficiency to businesses—from large enterprises all the way down to individuals who rely on software to accomplish their work,” said Naomi Ionita, Partner at Menlo Ventures and investor in early-stage SaaS businesses. “Anvil’s broad set of tools, from developer-first APIs to their no-code workflow builder, helps automate away the mundane and painful parts of peoples’ jobs so they can focus on higher-order problems.”