HAYWARD, Calif.--(BUSINESS WIRE)--Ripcord, the world’s first robotic digitization and document intelligence company, today announced its acquisition of LearningPal, an advanced machine learning-native Optical Character Recognition (OCR) and Document Understanding technology based in Silicon Valley. The acquisition furthers Ripcord’s broader objective of providing organizations with a frictionless and scalable document-to-data experience and accelerating their digital transformation.
With the integration of LearningPal’s technology, Ripcord customers will see many benefits, including:
- Best in class, enterprise scale native Japanese language extraction capabilities, plus ability to rapidly expand into other languages and markets.
- Improved large format document processing, which typically requires extensive memory and computing and unique ML capabilities.
“The unique combination of robotic digitization, document intelligence and data activation is vital to an organization’s ability to unleash the intrinsic power of its data,” said Sam Fahmy, President and CEO of Ripcord. “Ripcord and LearningPal share a common goal: To seamlessly turn an organization’s vast trove of opaque documents into dynamic data that can be used to automate processes, gain insights and fuel better decision making. It’s a natural fit. Our complementary technologies and joint teams are poised to accelerate our innovation edge and leadership in this rapidly growing space.”
"The merger of LearningPal and Ripcord presents immediate opportunities to scale our combined capabilities,” said Robin Wang, CEO of LearningPal. “From day one, the integrated Ripcord and LearningPal teams aimed to address existing challenges and to continue advancing technology to improve digitization and fuel global business needs in this area."
Ripcord is transforming the $62 billion records management and document intelligence space with its unique combination of robotic digitization, document intelligence and data activation capabilities that work together to turn paper and digital documents into valuable data in record time. Ripcord is based in Silicon Valley, California, and is backed by the world’s leading investors including Kleiner Perkins, Google Ventures, Icon Ventures, Baidu, Lux Capital, Legend Star, Silicon Valley Bank and Apple co-founder Steve Wozniak. For more information, visit www.ripcord.com.