French startup ReciTAL raises €3.5 million to help enterprises extract data from documents
Summary
ReciTAL, a French artificial intelligence startup, has raised €3.5 million from Breega to continue developing its deep learning business software. The automation of course saves time, but also smooths out customer relations and makes risk assessments more reliable — benefits that clients, particularly major banks and insurers, like to see. The tech-heavy ‘document intelligence’ platform is easy to use by all employees in an organisation, amounting to about 40,000 current users. Founded in 2017, reciTAL’s 30-person team boasts six PhDs and is guided by a scientific committee that includes Antoine Bordes, the director of Facebook AI Research in Europe. Co-founders Gilles Moyse and Frédéric Allary believe NLP software could be as big of an corporate game changer as the CRM or ERP (enterprise resource planning).