Wroclaw startup Alphamoon has raised PLN 10 million from Sunfish Partners fund

Every document can become a data set

Alphamoon is a startup from Wroclaw that automates document processing in businesses using artificial intelligence and natural language processing algorithms. Among other things, the system enables easy extraction of text and key information from documents such as bills, invoices and contracts.

The platform developed by Alphamoon also allows for reading data from correspondence, which is used, for example, in recognising and classifying complaints, and consequently supports the work of customer service teams.

Thanks to the platform, every document becomes a set of data. They can be automatically saved in a uniform way in CRM and ERP systems and automatically processed according to the needs of the organisation.

Now Alphamoon has raised PLN 4 million in a seed round (the first funding for startups), led by the Sunfish Partners fund, with the participation of Satus Starter. In the middle of last year, the company also received grants from the Lower Silesian Intermediate Body and the National Centre for Research and Development, for a total of PLN 5.6 million. Together with the pre-seed round, Alphamoon has obtained a total of nearly PLN 11 million.

The funds raised will allow to increase the scale of sales and further develop the platform and technology. Alphamoon plans to offer tools for the automation of all processes related to the processing of documents and text, ranging from OCR, classification and data extraction, through building knowledge bases and automatic generation of documents.

Alphamoon has the potential to make document processing much more efficient. What’s more, it can make it stop being an onerous chore and become a process that generates additional value. By recognising patterns in data, companies can develop products or offer better services to their end users. This is a billion-dollar market and we are delighted to be supporting Alphamoon in exploring it.

-Dr Marcus Erken, Partner at Sunfish Partners

Plans to expand the team

The company also plans to use funds from investors to expand its team. Today, Alphamoon employs over 30 people, including a team of artificial intelligence and machine learning specialists. In the near future, Alphamoon plans to recruit further, primarily programmers, engineers specialising in automated testing and marketing specialists.

Automatic document processing saves time

The founders of Alphamoon are Adam Gonczarek, Paweł Świątek and Norbert Raus. Previously, they developed a consulting and services company specialising in AI/ML solutions, and the Alphamoon product was created as an internal tool, responding to the need to automate processes related to document processing in the projects implemented by the company.

All companies that reach a certain scale face a large number of documents that they have to process. Automation saves time and eliminates bottlenecks that block the work of entire teams. At Alphamoon, we rely on technology that not only recognises text, classifies documents and extracts key information from them, but also provides tools that allow the business user to be effectively involved in the process, giving maximum synergy between humans and artificial intelligence.

-dr Adam Gonczarek, CTO Alphamoon

The customers of the Wrocław-based company are medium and large enterprises, mainly from the financial sector. Alphamoon solutions are already used by Santander Bank, PEKAO S.A., PGNiG and Kruk S.A.