Yttrium invests in Anyline
Anyline Raises $20 Million in Growth Funding Round to Answer Exponential Demand for Mobile Data Capture Technology
Latest round of funding for mobile AI vision technology company brings total venture capital investment to $37 million
Vienna/Boston – July 7, 2021 – Anyline, a market leader in mobile data capture, today announced that it has raised $20 million in a growth funding round to meet the rapidly growing global demand for mobile scanning technology. This round of funding is led by the European growth equity fund Yttrium and supported by Anyline’s existing investors, which include Project A, Senovo, Johann ‘Hansi’ Hansmann and PUSH Ventures.
Anyline’s AI-enabled mobile scanning technology is leveraged across a variety of industries around the world, including retail, logistics, manufacturing, law enforcement and automotive. Anyline solutions have also played a key supporting role throughout the pandemic by processing more than 1.6 million COVID-19 home testing kits in its headquarter city of Vienna.
“We celebrated our Series A round in January 2020 with enthusiasm for the potential of our data-capture technology and how it would be embraced by the market,” said Lukas Kinigadner, CEO and co-founder, Anyline. “We never could have anticipated how 2020 would accelerate our growth, as we fulfilled the critical need that businesses had to deliver safe, contactless digital experiences. Companies have been challenged to do more, at a faster rate, often with far fewer resources. Anyline’s technology has helped them to gain efficiencies and reduce the errors that can occur with manual data entry. Energized by our increased momentum over the past year, this latest round of investment will enable us to substantially grow our team as we strive to make mobile data capture even more intuitive and attainable for businesses today.”
Founded in 2013, Anyline now supports more than 250 companies and governmental organizations using its scanning solutions to digitize their data and improve operational efficiency. The company has strategic partnerships with industry leaders such as Zebra Technologies and Motorola, and key customers include Discount Tire, PepsiCo, E.ON, Tata, Comerso, Canon, and the World Food Programme.
Since Anyline’s Series A funding round last year, the company has released its proprietary AI platform, Anyline Trainer, a web-based, end-to-end computer vision and machine learning suite that can train a custom Optical Character Recognition (OCR) scanner in hours. The solution automates the process of developing a tailor-made mobile data capture solution, reducing a process that normally takes weeks to only a few hours for a working prototype. Using this technology, Anyline has created new solutions for the likes of Discount Tire and Tata. The company has also recently developed ID scanners for Arabic text and will soon launch Cyrillic text recognition.
The company has also expanded outside of Austria with the opening of its U.S. headquarters in Boston. With a current staff of 100 between the company’s Vienna and Boston offices, Anyline plans to expand the team further in the next 12 months. The company also announced two new appointments to its executive team, with Christian Stadlman, former SVP Global Sales of Aurea Software, starting as the company’s new chief revenue officer alongside Dan Sirk, former CMO and managing director of employer-rating platform kununu, who joined Anyline as chief marketing officer in November 2020.
“Investing in companies building best-in-class technology is our strategic focus, and we felt that the opportunity to financially support Anyline was a natural fit for our portfolio,” said Tim Kindt, partner, Yttrium. “Anyline understands the complexities of doing business today, made even more challenging by the new digital imperatives introduced by the pandemic. The mobile scanning capabilities that companies obtain by working with Anyline is second to none, and the team supporting the technology behind the scenes is one of a kind. We look forward to great things from the Anyline team and are proud to be involved in their future success.”
“At Anyline, we’re truly defining the future of mobile data capture, and it has been a thrill to have jumped in at such an exciting time,” said Christian Stadlmann, CRO, Anyline. “The past year has proven the need for companies to not only employ contactless and easy-to-use technology, but also to keep a pulse on consumer demand to provide an ideal user experience. For example, research that we conducted in May 2021 found that 70% of U.S. consumers would be happy to use biometric identification like face scanning or liveness detection to register or instantly complete transactions on a mobile banking app. Reinforced by our latest funding, we look forward to driving even more innovation around optical character recognition and data capture, watching consumer trends closely to inform our roadmap as we go.”
Founded in Vienna in 2013, Anyline has established itself as a market leader in mobile data capture. Using the newest and most innovative artificial intelligence approaches, Anyline enables any mobile device to process written characters and barcodes in real time, even when offline.
Anyline mobile data capture technology is CCPA/GDPR compliant, processing all data collected securely on the users’ device, and removing any chance of data interference. It’s not only more accurate than manual data entry, but also works 20 times faster. These scanning solutions are trusted by household brands such as PepsiCo, Discount Tire and IBM, as well as national governments and the United Nations. For more information, visit www.anyline.com.