SINGAPORE, June 22nd 2022 — Staple, a Singapore-based company which automates data processing from documents and workflows using powerful AI, has raised seed funding from Delivery Hero Ventures.
The fast-growing software-as-a-service (SaaS) company, co-founded by Ben Stein and Josh Kettlewell, enables enterprises to interpret, capture and reconcile data in a structured manner, in any format, type or language, and helps companies save substantial amounts of time and resources.
Staple’s solutions currently serve a wide range of enterprise customers, including global professional services firms, financial institutions, industrials and online grocery retailers.
Staple intends to use the funding to build its sales, marketing, and engineering teams to support the company’s rapid growth plans.
Ben Stein, co-founder and CEO of Staple commented “Having spent several years in the financial and professional services industries, I saw first-hand how companies deal with large volumes of unstructured data when communicating with other organizations. These documents come in the form of transactional documents, tax filings, bank statements or proof of addresses, among others. The challenge worsens for MNCs that transact across borders and in different languages. Josh and I founded Staple to tackle this exact problem: our solution helps companies to interpret and capture this data in a structured manner, allowing employees to focus on higher value, higher impact tasks. With the support of Delivery Hero Ventures, we are excited to grow the Staple team and bring our solution to more organizations globally.”
Alex Browne, Associate at Delivery Hero Ventures commented, “We are very excited to support Ben and Josh in their ambitions to build Staple into a best-in-class software solution, to solve the first mile of data processing for a variety of corporate and government use cases. Delivery Hero’s network of dark grocery stores processes large volumes of invoices, purchase orders and other unstructured data. We quickly saw the opportunity for Staple’s solution to drive greater efficiencies for our business, and to do the same for many other enterprises.”
About Staple
Staple is an intelligent document processing company headquartered in Singapore. Staple develops cognitive technologies to read, interpret, extract and reconcile data from a range of documents regardless of layout or language. The company automates data extraction from documents and workflows using a combination of proprietary machine learning, computer vision, OCR and NLP, saving substantial amounts of time and resources for enterprises across multiple industries. For more information, please visit staple.io
About Delivery Hero Ventures
Founded in January 2021, Delivery Hero Ventures is an independent venture capital firm backed by Delivery Hero, a leading global food delivery and quick commerce platform. Delivery Hero Ventures’ mission is to support the next generation of founders who are disrupting some of the most dynamic industries across the world. A key part of the fund’s value proposition is the ability to leverage Delivery Hero’s unique ecosystem to benefit founders and help them grow world-leading businesses. For more information, please visit dhventures.vc