cloudsquid

Cloudsquid, a Berlin-based company established in 2023, operates in the field of AI-powered data extraction and integration. The firm was co-founded by Mike McCarthy, who serves as CEO, along with Filip Rejmus and Sangwoo Bae. The founding team brings experience from prominent tech companies; McCarthy was a revenue leader at Ultimate AI, Rejmus has a background with Taktile and Uber, and Bae previously worked at AWS and Kubermatic. Their collective experience addresses the challenge that over 80% of enterprise data exists in unstructured formats, a significant bottleneck for digitization.

The company provides a platform designed for engineering, data, and operations teams to build data pipelines for unstructured data. Its core offering is an API that ingests various file types, including PDFs, images, emails, and CSVs, and transforms the unstructured information within them into structured data. This structured data can then be integrated into downstream systems such as databases, Enterprise Resource Planning (ERP), and Customer Relationship Management (CRM) systems. This process is intended to eliminate manual data processing, allowing technical teams to focus on other product functionalities. The platform serves a range of clients, from startups to larger established enterprises.

Cloudsquid's business model is subscription-based, offering several tiers to cater to different user needs. A freemium plan is available for individuals or companies to test use cases. For professional use, there is a 'Team' plan and a custom 'Enterprise' plan for larger organizations with high-volume needs, which includes features like unlimited integrations and custom AI pipelines. In November 2024, Cloudsquid secured close to €1 million in a pre-seed funding round led by High-Tech Gründerfonds and Backbone Ventures, with participation from angel investors. This capital is intended to expand the engineering team and further develop the platform, with a general availability release planned by the end of 2024.

Keywords: AI data extraction, unstructured data processing, data integration, document automation, data pipelines, PDF extraction, intelligent document processing, API for data extraction, business process automation, workflow automation, ERP integration, CRM data integration, financial document automation, data wrangling, enterprise data management, Berlin startup, High-Tech Gründerfonds, Backbone Ventures, Filip Rejmus, Sangwoo Bae, Mike McCarthy