Toronto, Canada
SortSpoke, founded in 2017 and headquartered in Canada, positions itself as a leader in the AI, Insurtech, and Machine Learning industries with its slogan: "The world's best cloud-based data extraction tool that uses AI/ML to turn your documents into data."
SortSpoke addresses the challenge of extracting data from unstructured, complex documents, particularly in the insurance sector. The platform's AI-driven solution facilitates data extraction for sales, operations, and back-office use cases without the need for IT support. Its no-code, business-user-friendly approach allows insurance entities like carriers and reinsurers to process documents efficiently, augmenting underwriting capacities to review 50% more submissions while ensuring on-target risk identification.
The company raised a $4.50M Venture Round investment on 20 June 2022, with backing from key investors like IDEA Fund Partners and SixThirty. This funding underscores investor confidence in SortSpoke's capabilities and market potential.
Forage AI