Rossum

Rossum is a technology company that provides an AI-powered, cloud-native platform for intelligent document processing (IDP). The company was founded in Prague in 2017 by three AI PhD students, Tomáš Gogár (CEO), Petr Baudiš (CTO and Chief AI Architect), and Tomáš Tunys (CSO). The founders identified inefficiencies in manual document processing during their PhD studies and created Rossum to automate these workflows.

The founders have deep roots in AI and technology. Gogár was named in Forbes' 30 under 30, and all three founders were listed in the Financial Times' New Europe 100 Challengers. Baudiš, who started programming at age seven, was a core developer for Git and created an open-source AI for the game Go, with his work being cited in Google's AlphaGo paper. Prior to Rossum, they co-founded Ailao, a company focused on commercializing deep-learning research.

Rossum's core product is a template-free IDP platform that uses AI to automate the capture, extraction, and processing of data from transactional documents like invoices, purchase orders, and bills of lading. It leverages a proprietary Transactional Large Language Model (T-LLM), named Rossum Aurora, which was trained on millions of business documents to achieve high accuracy without the data leak risks associated with third-party LLMs. The platform is language-agnostic, can process handwriting, and integrates with enterprise systems like SAP, NetSuite, and Coupa. Its technology aims to save users over 90% of manual work by mimicking how humans read documents and using a human-in-the-loop system for validation, which continuously improves the AI's accuracy.

The company operates on a subscription-based SaaS model, with pricing tailored to the volume of documents processed and workflow complexity. It serves over 450 clients globally, including large enterprises such as Bosch, Siemens, Cushman & Wakefield, and PepsiCo. In October 2021, Rossum raised $100 million in a Series A funding round led by General Catalyst, one of the largest Series A rounds in Eastern Europe. This funding is being used to expand its teams, open new hubs in the US and Asia, and establish an AI research center in Prague.

Keywords: intelligent document processing, IDP, data extraction, AP automation, invoice processing, document automation, artificial intelligence, machine learning, OCR, workflow automation, accounts payable, transactional documents, cloud-native, SaaS, data capture, business process automation, purchase order automation, financial document processing, enterprise automation, low-code platform