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§ Private Profile · Hayward, CA, USA
Ripcord is a technology company.
Ripcord delivers a document intelligence platform that utilizes proprietary robotics, artificial intelligence, and machine learning to convert physical and digital documents into actionable data. The system automates high-quality digitization of paper records, employing advanced AI to classify, extract, validate, and enrich critical information. This transforms unstructured data into structured assets, enhancing operational efficiency and accessibility.
The company originated from NASA research, founded by Alex Fielding and Kevin Hall, with Steve Wozniak also a co-founder. Their insight focused on the significant value trapped in documents, envisioning a data-powered world through automated record transformation. This led to developing technology converting vast, disparate information into high-value, accessible data assets.
Ripcord’s platform serves diverse sectors like financial services and manufacturing, streamlining operations by unlocking enterprise data. Its vision is to foster more efficient and insightful workplaces, empowering clients for better decision-making and greater precision. By providing seamless access to crucial business intelligence, Ripcord enables organizations to maximize information utility.
Ripcord has raised $183.5M across 7 funding rounds.
Ripcord has raised $183.5M in total across 7 funding rounds.
Ripcord has raised $183.5M in total across 7 funding rounds.
Ripcord's investors include Brian Krzanich, Steve Wozniak, Baidu, Google Ventures, Icon Ventures, Wen H. Hsieh, Ph.D., Lux Capital, Silicon Valley Bank, Tyche Partners, Andy Wheeler, Kleiner Perkins, Telstra Ventures.
Ripcord has raised $183.5M across 7 funding rounds. Most recently, it raised $32.0M Other Equity in April 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 16, 2024 | $32M Venture Round | — | — | Announced |
| Feb 1, 2020 | $45M Series B | Brian Krzanich | Steve Wozniak, Baidu, GV, Icon Ventures, WEN H. Hsieh, Ph.D., LUX Capital, Silicon Valley Bank, Tyche Partners | Announced |
| Dec 20, 2017 | $25M Series B Plus | Andrew Wheeler | Icon Ventures, Kleiner Perkins, LUX Capital, Silicon Valley Bank, Telstra Ventures | Announced |
| Aug 17, 2017 | $40M Debt Financing | JEB Miller | Kleiner Perkins, LUX Capital, Silicon Valley Bank | Announced |
| Aug 1, 2017 | $25M Series B | — | Andreessen Horowitz, Cota Capital, Founder Collective, FTX Ventures, Gradient Ventures, Sparrows, Streamlined Ventures, Telstra Ventures, Think + Ventures, Balaji Srinivasan | Announced |
| Mar 23, 2017 | $9.5M Series A | Michael Abbott | Steve Wozniak | Announced |
| May 1, 2016 | $7M Series A | — | — | Announced |
Ripcord is an AI-powered document intelligence company that digitizes physical and digital documents using proprietary robotics, generative AI, and cloud software, transforming unstructured data into accessible, actionable formats.[1][2][4][5][6] It serves industries like financial services, manufacturing, real estate, insurance, healthcare, and public sectors, solving the problem of trapped data in paper records by enabling efficient classification, extraction, analysis, and automation of workflows.[1][2][6] With $120M in total funding from investors including Kleiner Perkins, Google Ventures (GV), Lux Capital, Icon Ventures, and Steve Wozniak, Ripcord operates in the $62B document intelligence market, backed by 134 employees in Hayward, California.[2][3][4][5]
The platform combines hardware robotics for physical digitization with AI for data extraction, offering a complete solution that removes digital transformation barriers and supports RPA and business processes.[2][3][4][6] Customers like Coca-Cola use it for use cases such as accounts receivable, praising its ability to scrape and reconcile data across pages.[6]
Ripcord originated from NASA research in 2015, founded by Alex Fielding (Co-Founder & former CEO, now Director and Founder of Privateer Space) and Kevin Hall (Co-Founder & CTO).[3][4][5] The idea emerged from innovating robotics to digitize paper records, evolving beyond simple scanning into AI-driven data intelligence for a paperless world.[4][5] Early traction came from its unique hardware-software integration, attracting backing from top investors like Kleiner Perkins, GV, Lux Ventures, and Steve Wozniak, fueling growth to a $120M-funded operation.[2][3][4][5]
Leadership transitioned with Sam Fahmy as current President and CEO, supported by experts like Ron Sorisho (COO) and Ahson Ahmad (Chief Product & Technology Officer), whose NASA-rooted vision shaped its focus on robotics and AI.[5]
Ripcord rides the AI document processing trend, addressing the explosion of unstructured data amid digital transformation demands in a $62B market.[1][4] Timing aligns with generative AI advancements and RPA growth, where legacy paper burdens enterprises in finance, manufacturing, and healthcare—market forces like regulatory compliance and efficiency pressures favor hardware-AI hybrids over software-only rivals.[1][2] It influences the ecosystem by enabling data-powered operations, akin to Palantir's playbook for AI data platforms, and holds patents like integrated warehouse-digital systems, positioning it as a disruptor in intelligent automation.[3]
Ripcord is poised to expand in AI-driven digitization as enterprises prioritize unstructured data unlocking, with generative AI trends accelerating adoption.[4][6] Next steps likely include deeper RPA integrations, global scaling via operations leaders, and potential IPO liquidity given pre-IPO trading interest.[3] Its NASA heritage and blue-chip backers suggest evolving influence in enterprise AI, potentially dominating niches where physical-to-digital transitions remain sticky—turning today's "wow factor" hardware into tomorrow's data intelligence standard.[2][5][6]