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§ Private Profile · New York City, NY, USA
Vic.ai is a technology company.
Vic.ai provides an AI-first autonomous finance platform, focusing on accounts payable automation. Its core product leverages intelligent AI to streamline invoice processing, purchase order matching, and approvals. The platform delivers real-time financial insights, optimizes spend, and ensures accuracy, propelling finance operations towards autonomy.
Founded in 2017 by Alexander Hagerup, Kristoffer Roil, and Rune Løyning, Vic.ai arose from the insight that enterprise finance demanded autonomous AI systems. The founders sought to revolutionize accounting processes for efficiency and accuracy, building an AI-native solution to critical needs.
Vic.ai serves finance professionals, including CFOs, controllers, and AP managers, across diverse industries. Its vision empowers these teams with AI-first solutions, fostering efficiency, control, and strategic decision-making. The company continually advances its agentic AI, pursuing a future of autonomous finance workflows.
Vic.ai has raised $113.0M across 3 funding rounds.
Vic.ai has raised $113.0M in total across 3 funding rounds.
Vic.ai has raised $113.0M in total across 3 funding rounds.
Vic.ai's investors include Jeff Richards, Will Griffith, BlueRun Ventures, Insight Partners, Notable Capital, Allison Pickens (Allison Pickens Ventures), Costanoa Ventures, Cowboy Ventures, GGV Capital.
Vic.ai has raised $113.0M across 3 funding rounds. Most recently, it raised $52.0M Series C in December 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2022 | $52M Series C | Jeff Richards, Will Griffith | BlueRun Ventures, Insight Partners, Notable Capital, Allison Pickens (Allison Pickens Ventures), Costanoa Ventures, Cowboy Ventures | Announced |
| Aug 1, 2021 | $50M Series B | Will Griffith | BlueRun Ventures, Insight Partners, Notable Capital, Allison Pickens (Allison Pickens Ventures), Costanoa Ventures, Cowboy Ventures, GGV Capital | Announced |
| Sep 1, 2019 | $11M Series A | Jeff Richards | BlueRun Ventures, Insight Partners, Notable Capital, Allison Pickens (Allison Pickens Ventures), Costanoa Ventures, Cowboy Ventures | Announced |
Vic.ai is a technology company building an AI-first autonomous finance platform focused on accounts payable (AP) automation. It develops proprietary deep-learning AI trained on over 1 billion invoices to handle invoice processing, PO matching, approvals, payments, and analytics with 97-99% accuracy, reducing processing time by 80% on average.[2][3][5][8] The platform serves mid-market and enterprise companies in the U.S., Canada, and Nordics, targeting industries like real estate, transportation/logistics, retail, manufacturing, construction, and freight, especially those with complex AP, multiple entities, or high invoice volumes (>500/month).[2][3] Vic.ai empowers AP teams and CFOs by automating routine tasks, enabling strategic focus on analysis, forecasting, and vendor management, with proven ROI including 7-month payback, $200M saved across clients, and processing of $30B in spend for 10,000+ entities.[5][6]
Growth momentum is strong, backed by investors like ICONIQ Growth and GGV Capital, with recent launches like VicAgents™ (intelligent agents for workflows such as email handling via VicInbox™, spend forecasting, compliance, and payment optimization) and new AI products for AP, positioning it as a leader in self-driving accounting.[1][3][4]
Vic.ai was founded with an AI-first approach by a team of world-class AI researchers, engineers, data scientists specializing in deep learning for finance, and accountants, over seven years ago.[3][5] CEO and co-founder Alexander Hagerup has led the mission to empower accounting teams through AI.[1] The idea emerged from recognizing inefficiencies in traditional AP tools like RPA and OCR, which are rule-based and require constant updates; Vic.ai built proprietary algorithms trained on billions of invoices to create adaptive, autonomous solutions.[2][3][5] Early traction came from delivering 97-99% accuracy out-of-the-box, processing millions of invoices, and attracting top venture funding, evolving from core AP automation to a full autonomous finance platform with agents like VicInbox™ now live across customers.[3][4][5][8]
Vic.ai rides the autonomous AI agents trend in enterprise finance, shifting from rule-based automation to deep-learning systems that learn, adapt, and execute workflows amid rising AP complexity from global operations and regulations.[2][4][5] Timing aligns with AI maturity—post-7 years of R&D, trained on massive datasets—capitalizing on market forces like labor shortages in accounting, need for 99% accuracy in high-stakes spend management ($30B+ processed), and CFO demands for efficiency without headcount growth.[3][5][6] It influences the ecosystem by setting standards for "accountable AI" in finance, enabling teams to scale strategically, reducing errors/costs, and pioneering agentic finance (e.g., VicAgents™) that could extend to full ERP integration, challenging incumbents and accelerating AI adoption in back-office ops.[1][4][7]
Vic.ai is poised to dominate autonomous finance as VicAgents™ expand beyond AP into spend forecasting, compliance, and payments, leveraging its AI Research Center for ongoing innovation.[4][5] Trends like agentic AI, regulatory pressures, and real-time analytics will propel growth, potentially doubling no-touch rates and entering new verticals. Its influence may evolve from AP leader to full finance platform, backed by elite investors, delivering even greater ROI as AI autonomy becomes table stakes—transforming manual drudgery into intelligent collaboration from day one.[3][4][5]