Anvil, a US-based 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. Anvil’s current customers span industries including financial services, human resources, technology and healthcare companies.
“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.”
“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.”
“With Anvil, we were able to help more than 1,600 small businesses apply for $127M in Paycheck Protection Program loans in just five days,” said Brett Cooksey, Sunrise Banks’ Chief Information Officer. “The Anvil platform made it possible for us to provide a customer experience that was a dramatic improvement over our previous application process, eliminating some stress for the small business community.”
“We’re really proud of the way that Anvil’s platform bridges the gap from offline to online,” said Mang-Git Ng, CEO and co-founder of Anvil. “As virtually all businesses struggle to deliver services remotely in this COVID-19 era, Anvil’s solution brings pen and paper processes online, enabling access to services whenever and wherever the customer is.”
“We see incredible possibilities in financial services for Anvil’s solution,” said Ryan Falvey, Managing Partner at Financial Venture Studio. “Their ability to provide a working solution to Sunrise Banks in days, not months, shows us the promise of what tech can bring to modern financial services.”
Anvil enables businesses to address the challenges of delivering services remotely by giving them a tool to create 100% online experiences for critical processes, while leveraging automation to help businesses run more efficiently.
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