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Consumer applications like Venmo, Cash, and Zelle have revolutionized person-to-person instant payments. Businesses have not had the same functionality and the business-to-business payment space has long been reliant on charging significant transaction fees and tying up cash flow with long waits until funds are available. This is especially onerous for small businesses, freelancers, and startups that operate on tight margins. Hopscotch is a B2B payments platform that offers instant payments without any fees. Similar to the consumer apps, users can collect and receive payments from clients and vendors, whether they have Hopscotch accounts or not. The company just launched its payment product this week in private beta and plans to expand its offering to holistically service the needs of small businesses. AlleyWatch caught up with Hopscotch CEO and Cofounder Reed Switzer to learn more about how the business is catering to the needs of a digitally savvy generation, the company's strategic plans, and latest round of funding from investors that include Shine Capital, Stellation Capital, NOEMIS Ventures, 3KVC, Valar Ventures, and Red & Blue Ventures.
Intelligent document processing incorporates automation to capture, extract, and process data from various formats including, forms, images, PDFs, and ZIPs. By leveraging API-based technology, businesses are able to free up human capital to focus on higher-value tasks by automating the multitude of documents they need to handle on a daily basis. Base64.ai has built a sophisticated OCR document processing automation platform that can handle 700+ document types off the shelf with the ability to adapt to continuously improve and expand its capabilities through AI. By coupling AI with OCR, the platform is able not only exponentially improve data extraction accuracy vs just using OCR alone but also accommodate more types of documents. Base64.ai is flexible in its implementation with a cloud-based solution, on-premise, and can even be incorporated to power enterprise RPA platforms. With data, both unstructured and structured, powering the future of the enterprise and business, the intelligent data processing market is forecasted to demonstrate a 34.6% CAGR through 2027. AlleyWatch caught up with Base64.ai Head of Marketing Andy Karuza to learn more about how the experience of onboarding Uber drivers served as the catalyst for the company, the company's strategic plans, and latest round of funding from investors that include Long Journey Ventures and Data Community Fund.
It’s estimated that startups and small businesses waste in excess of $130B each year as a result of poor visibility into vendor spending. By leveraging AI into their accounting stack, companies can take advantage of automation and unprecedented financial intelligence. Glean AI is an automated accounts payable solution that drives savings by providing non-intuitive spend insights. With the platform, companies can focus on cost optimization, benchmarking, and spend intelligence rather than spending time on low-value activities like manual invoice processing. With Glean companies can make ACH, check, and international payments, sync bills and payments with leading accounting software, serving the needs of both accounting and FP&A teams. AlleyWatch caught up with Glean AI CEO and Founder Howard Katzenberg to learn more about the inspiration for the business, the company's strategic plans, latest round of funding from investors that include Contour Venture Partners, American Express Ventures, Infinity Ventures, B Capital Group, and Portage Ventures.