Nanonets
Nanonets is a San Francisco-based intelligent document processing platform offering AI-powered OCR and workflow automation for document-intensive business operations.
Overview
Nanonets, founded in 2017 by Sarthak Jain and Prathamesh Juvatkar and headquartered in San Francisco, develops cloud-based document processing software combining OCR, machine learning, and workflow automation. The platform serves over 1,000 enterprises including 34% of Global Fortune 500 companies across banking, insurance, healthcare, logistics, and real estate sectors.
The company raised $29 million in Series B funding in 2024 led by Accel to develop autonomous AI agents for back-office operations. Nanonets processes invoices, receipts, purchase orders, contracts, insurance claims, and forms without requiring predefined templates. The platform achieves 99% extraction accuracy on clear documents and integrates with ERPs, CRMs, and accounting systems through pre-built connectors. In 2024, Nanonets released Nanonets-OCR-s, an open-source image-to-markdown OCR model that reached Top 10 on Hugging Face.
Key Features
- AI-Powered OCR: Text extraction from images and scanned documents across 12+ document types
- Template-Free Processing: Automatic data capture without pre-configured templates using machine learning
- Intelligent Classification: Automatic document categorization by type
- Workflow Automation: End-to-end process automation with configurable approval routing
- No-Code Platform: User-friendly interface for configuration without technical expertise
- Self-Learning Models: Continuously improving accuracy through corrections and feedback
- Multi-Channel Capture: Document intake via email, mobile photo, scan, and API
- Validation Rules: Customizable business logic for data verification
- Batch Processing: High-volume document handling capabilities
- ERP/CRM Integration: Pre-built connectors for NetSuite, QuickBooks, Sage, SAP, Salesforce
Use Cases
Accounts Payable Automation
Finance teams automate invoice processing from capture through payment by uploading invoices via email, scan, or electronic formats. Nanonets extracts header details, line items, payment terms, and tax amounts, then validates data through three-way matching against purchase orders and receiving documents. The system routes invoices through approval workflows based on amount thresholds and cost centers, integrating with ERP systems for payment processing.
Healthcare Document Processing
Healthcare providers process patient intake forms, insurance cards, medical records, and test results through automated data extraction. The platform captures patient demographics, insurance details, medical history, and clinical data, populating EHR systems directly while maintaining HIPAA compliance through encrypted data handling and access controls.
Expense Management
Organizations automate expense reimbursement by capturing receipts through mobile photos or email attachments. The system extracts merchant details, purchase dates, itemized expenses, and payment information, then categorizes receipts by expense type and flags policy violations. Integration with expense management platforms accelerates reimbursement processing and provides spending analytics.
Technical Specifications
| Feature | Specification |
|---|---|
| Deployment | Cloud-based SaaS |
| OCR Accuracy | Up to 99% (claimed) |
| Manual Effort Reduction | 88.3% (claimed) |
| ROI | 3.5x median over 6 months (claimed) |
| API | RESTful API with webhooks |
| Document Formats | PDF, JPEG, PNG, TIFF, BMP, Office formats |
| Supported Languages | Multilingual OCR |
| Integration Methods | Pre-built connectors, REST API |
| Security | SOC 2, GDPR, HIPAA compliant |
| Machine Learning | Self-improving models |
| Scalability | Enterprise-grade high-volume processing |
| Mobile Support | Mobile capture applications |
| Pricing | Free startup tier, custom enterprise plans |
Getting Started
- Assessment: Identify document types and processing workflows
- Configuration: Set up document extractors using no-code interface
- Model Training: Provide sample documents for accuracy optimization
- Integration: Connect with ERP, CRM, or accounting systems
- Workflow Setup: Configure approval routing and validation rules
Resources
Company Information
Headquarters: San Francisco, California, United States
Founded: 2017
Founders: Sarthak Jain, Prathamesh Juvatkar
Funding: $29 million Series B (2024, Accel lead)
Address: 156 2nd Street, San Francisco, CA 94105
Phone: +1 650 382 8676
Email: info@nanonets.com
Customers: 1,000+ enterprises, 34% of Global Fortune 500
Compliance: SOC 2, GDPR, HIPAA
