OCROLUS Investment Thesis

Ocrolus analyzes financial documents, regardless of format and quality, with high accuracy. Its technology impacts financial firm’s back office by helping with monitoring, anti-fraud & risk, legal and compliance, and credit, insurance, investment and contracting. Ocrolus, headquartered in New York, delivers an elegant blend of artificial intelligence and crowdsourced human quality control to firms across the financial sectors enabling them to automate high-stakes business processes with precision. 

Elevate initially helped to lead the seed round of funding with a syndicate of Angel groups in New York – Westchester Angels, ARC and HBS. The founding team brings a combination of experience and energized youth, with a good balance of responsibilities between the CEO (Sam Bobley), President (Victoria Meakin) and COO (Vikas Dua). They have had success in founding and running startup enterprises and have had success in leading offshore development teams. In addition, the founders have a strong vested interest in the success of the company by investing a lot of the initial capital themselves with a lot of “skin in the game.” 

We like the simplicity of the user experience on the platform, a clearly defined value proposition and target market. Ocrolus began by focusing on small business lenders. This is a large market in the US and requires historical financial data in order to assist with accurate credit decisions. The other large target market is the government sector that provides benefit programs, such as Medicaid. Programs such as Medicaid require five years of financial history in order to ascertain eligibility. For lenders and government clients, Ocrolus saves a substantial amount of time and cost to help clients with their financial decision making process.