Anyline Raises Multi-Million Euro Investment to Continue Expansion
Investors at PUSH Ventures are joining with new investors, Senovo, to provide Anyline with a cash injection to fund our growth and expansion as an international business. We’ll receive two million euro to help meet the demands of our fast-growing market.
We have established ourselves as a market leader in our field with our AI-based Optical Character Recognition (OCR) technology. We have greatly expanded the application of cross-industry scanning solutions and enabled the highest recognition rates in real time for documents and objects under the most diverse conditions. From government agencies to industrial and logistics companies and even energy providers, dozens of industries have been able to digitize analog information and replace error-prone processes with scanning. With more than 150 enterprise customers worldwide, Anyline is already being used today by companies such as Canon, Porsche, Swisscom and Thomas Cook Airlines.
Senovo Supports Anyline in Expanding Market
In order to serve the growing demand of the markets in full, we’re pleased to receive a financial injection from the Munich VC fund Senovo.
“We saw the opportunity to invest in an impressive team, cutting-edge technology and a growing market. Whether you prefer industrial cameras, drones, smart phones or IoT devices, the applications of scanning technology are growing rapidly. That’s why we are pleased to support Anyline as an OCR leader in expansion.”
– Frederick von Mallinckrodt, Managing Director Senovo.
In 2018, we were able to triple our turnover for the third year in a row. We have a 7-figure annual turnover, based on a six-figure MRR.
“Due to the enormous potential for our product, we’re working towards even greater financing for our upcoming growth period. We are delighted to have found a VC partner with Senovo.”
– Lukas Kinigadner, CEO Anyline.
Senovo Joins Existing Investors at Anyline
All current Anyline investors have reinvested. And in addition to Hansi Hansmann, Hermann Hauser, Bernhard Niesner and the Gernot Langes Swarovski Foundation, some of Europe’s most successful business angels, Lukas Püspök (PUSH Ventures) has also made a significant investment.
“Anyline has managed to build an impressive customer base over the last few years with a very strong team.”
– Lukas Püspök, PUSH Ventures.
The two million euro will not only extend Anyline’s sales arm, but “help to strengthen our technological lead”. These were the words of Anyline CEO Lukas Kinigadner, who has a very positive outlook going into the next round of financing.
Senovo – B2B SaaS Experts
Senovo is a Munich and Berlin based early stage venture capital fund with a focus on B2B SaaS investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the secular shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world class products and generally gets involved soon after product launch.
Anyline – Mobile Text Recognition Pioneers
Anyline was founded in 2013 by Lukas Kinigadner, Daniel Albertini, Jakob Hofer and David Dengg. We develop and provide software solutions that enable mobile text recognition. Our patented technology enables smartphones to read so you can digitize text, numbers and codes of all kinds, wherever you go.
The Anyline software development kit (SDK) can be integrated across all major platforms and integrated with your existing mobile app. You can use Anyline to reduce time spent on manual data entry and eliminate typing mistakes for use cases such as document scanning, serial number scanning, passport scanning, utility meter scanning and many more.
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Content Manager at Anyline | I write blog posts, emails, social media posts and everything else that helps people to learn about mobile OCR. Also happy to talk about it too!