OpenBots
OpenBots is a business automation platform providing zero-bot-license RPA and IDP capabilities with consumption-based pricing and GPT integration.
Overview
OpenBots provides a business automation platform combining RPA and intelligent document processing with a zero-bot licensing model. Founded in 2020, the company offers consumption-based pricing where organizations pay only for usage without bot counting or scalability limits. The platform integrates GPT technology for document automation and includes pre-built extraction models for mortgage, insurance, immigration, and common documents like IDs, licenses, passports, and invoices. OpenBots serves healthcare revenue cycle management and other enterprise sectors with HIPAA and SOC2 compliance certifications. The company raised $15-20M in funding through 2022.
Key Features
- Zero-Bot License Model: Consumption-based pricing without bot counting restrictions
- OpenBots Documents: IDP tool with OCR, intelligent extraction, document classification, and validation
- GPT Integration: Generative AI capabilities integrated into IDP tool
- Pre-Built Models: Out-of-box extraction models for mortgage, insurance, immigration, IDs, licenses, passports, invoices
- Data Validation Module: Manual correction feedback loop for machine learning model improvement
- Entity Explorer and Timelines: Document understanding features for data analysis
- Structured and Unstructured Processing: Handles both document types
- Auto-Learning: ML models improve accuracy through validation feedback
- RPA Studio: Automation workflow builder with system integration
Use Cases
Healthcare Revenue Cycle Management
Healthcare organizations use OpenBots to automate patient intake forms, insurance verification, and claims processing. The platform extracts data from medical documents using pre-built models, validates information through the feedback module, and integrates with billing systems while maintaining HIPAA compliance.
Mortgage Document Processing
Mortgage lenders implement OpenBots Documents for loan application processing using pre-built mortgage models. The system extracts applicant information, income verification, and property details from various document formats, applying validation rules before feeding data to loan origination systems.
Invoice Automation
Companies automate accounts payable by processing invoices through OpenBots' pre-built invoice models. The platform extracts vendor details, line items, and totals from structured and unstructured invoices, validates data through business rules, and connects to ERP systems for payment processing.
Technical Specifications
| Feature | Specification |
|---|---|
| Platform Type | Business automation platform (RPA + IDP) |
| Licensing Model | Zero-bot license, consumption-based pricing |
| IDP Capabilities | OCR, data extraction, classification, validation |
| AI Integration | GPT and machine learning |
| Document Types | Structured and unstructured |
| Pre-Built Models | Mortgage, insurance, immigration, ID, license, passport, invoice |
| Learning | Auto-learning through validation feedback |
| Compliance | HIPAA, SOC2 |
| Integration | Full automation workflow integration |
| Target Industries | Healthcare RCM, mortgage, insurance, enterprise |
Resources
Company Information
Headquarters: Edison, New Jersey, United States (505 Thornall St, Edison, NJ 08837)
Founded: 2020
Founder: Ashish Nangla
Employees: ~51 (across 3 continents)
Funding: $15-20M (through 2022)
