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Reducto raised $8.4 million in seed funding led by First Round Capital to develop AI technology for reading complex documents.

PRIVATEOct 02, 2024

Amount Raised

$8.4 Million

Round Type

Seed

San FranciscoSoftwareArtificial IntelligenceMachine Learninginformation technology & services

Investors

Ralph GootteeRichard AbermanBoxGroupLiquid2Arash FerdowsiTracy YoungSVAngelAndrew OfstadKulveer TaggarJJ FliegelmanFirst Round Capital

Description

Reducto has secured $8.4 million in seed funding to enhance AI capabilities for parsing PDFs and spreadsheets. The round was led by First Round Capital, with participation from various notable investors including Y Combinator and angel investors.

Quick answer

Reducto raised $8.4 Million in a Seed round, dated October 2, 2024. Investors: Ralph Goottee, Richard Aberman, BoxGroup, Liquid2, Arash Ferdowsi, Tracy Young, SVAngel and Andrew Ofstad. Reducto is based in San Francisco, California, United States.

How much did Reducto raise?
Reducto raised $8.4 Million in a Seed round on October 2, 2024.
Who invested in Reducto?
Ralph Goottee, Richard Aberman, BoxGroup, Liquid2, Arash Ferdowsi, Tracy Young, SVAngel and Andrew Ofstad are named as investors in this round.
What does Reducto do?
Reducto is a startup founded in 2023, part of Y Combinator's winter 2024 batch.
Where is Reducto based and how big is it?
Reducto is based in San Francisco, California, United States. Fundz records about 27 employees.
Who are the decision-makers at Reducto?
Fundz holds 1 contact at Reducto, including the Co-Founder & CEO. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in information technology & services and Software around the same time

Companies in the same sectors as Reducto that raised within 45 days of this round, from Fundz verified event records.

  • Runware raised $3M (Seed) on October 7, 2024.
  • Purple Transform raised $5.9M (Funding Round) on September 12, 2024.
  • Clay raised $40M on November 15, 2024.
  • Team-GPT raised $4.5M (Seed) on November 15, 2024.
  • Gendo raised $5.4M (Seed) on November 15, 2024.
  • Camouflet raised $3M (Seed) on November 14, 2024.

Who to call at Reducto, and when

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Company Information

Company

Reducto

Location

San Francisco, California, United States

About

Reducto is a startup founded in 2023, part of Y Combinator's winter 2024 batch. The company specializes in developing AI technology designed to read and parse complex documents such as PDFs and spreadsheets. By training models on various visual cues in documents, Reducto aims to enhance the capabilities of large language models in understanding data traditionally hard to parse. The company has garnered attention from notable investors, securing $8.4 million in seed funding for its innovative solutions.

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Related People

1 contact
Verified contactsAdit A., Co-Founder & CEO hiddenSee plans and pricing
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Reducto raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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