Ephesoft announces cloud services on Azure, plus $US15M funding boost

Ephesoft Inc., developer of Smart Capture software that extracts meaning from unstructured content, has announced the availability of its Cloud Services on the Microsoft Azure cloud computing platform.

Ephesoft’s Cloud Services provides the same power and agility of Ephesoft Transact’s advanced document capture and analytics technology with the additional benefits of a hosted SaaS solution.

Ephesoft Cloud Services offers four tiers of service – Entry, Standard, Professional and Premium– depending on an organisation’s requirements on architecture, document and image volume, service level requirements, mobility, power, support and services.

“As more companies are trending to cloud computing with its scalability, flexibility, elimination of hardware costs and faster deployment, Ephesoft is staying at the forefront of that demand with Microsoft Azure,” stated Ike Kavas, Chief Technology Officer at Ephesoft.

“Customers utilise Ephesoft as an added intelligent document automation layer with patented, machine learning algorithms that extracts, classifies, validates and exports data into other technologies or business systems. Being able to do this in the cloud as a Capture-as-a-Service model with Microsoft Azure will benefit our customers.”

Ephesoft is a Silver Microsoft Cloud Platform Partner with existing integrations into Microsoft SharePoint, Microsoft Flow and Microsoft Dynamics. Now, with Ephesoft Cloud Services, customers have another option to access Ephesoft technology in the cloud, improving their business and delivery processes with Microsoft Azure

Ephesoft secures $US15M funding

Incestment firm Mercato Partners  has just announced a $US15 million Series A financing round, which will be used to accelerate Ephesoft’s product development while expanding operations, market presence and sales channels. Joe Kaiser of Mercato Partners will join the Ephesoft Board of Directors as part of the investment.

Founded in 2010, Ephesoft has over 500 customers globally ranging from financial services, Federal government, insurance, mortgage and healthcare sectors. Over the past 18 months, Ephesoft was named to the Inc. 500 Fastest growing privately held companies in America, received a patent for its machine learning technology applied to unstructured content, was selected for multiple document analytics projects by Federal Intelligence agencies and secured several new seven-figure engagements with leading financial services companies.

“Organizations are struggling with the enormous volume of unstructured content, which represents upwards of 80% of all available content, and is growing at a rate of 43% per year. To provide tangible value, that information needs to be processed and analysed. Ephesoft’s solutions are disrupting the advanced capture market with a definitive value proposition: apply machine learning to convert these unstructured information streams and repositories into actionable data,” said Kaiser.

“We are excited to help advance Ephesoft’s cloud-based approach to content capture and analytics to the public and private sector, especially with the continuing strong innovation in big data, vertical solutions and ease of use in the product portfolio.”

Ephesoft’s Transact and Insight platforms are leveraged by leading financial institutions to fast track mortgage processing and approvals, by government agencies to identify anomalies in over two million background investigations, and by companies across all markets to accelerate invoice approvals, automate patient records, and improve document-driven business processes.

“Mercato’s investment will help Ephesoft realise its vision of liberating meaning through machine learning technology,” said Ike Kavas, Ephesoft’s founder.

“We view Mercato as a long-term strategic partner, and we appreciate their experience in helping visionary technology companies accelerate and manage growth. This funding will enable Ephesoft to help organisations improve business outcomes by identifying and rationalizing dark data, then understanding how it impacts their business.”