StageOther Investors | Alive
Parascript creates artificial intelligence software that streamlines access to data with precision. Its software analyzes billions of documents annually and extracts critical information for financial services, government agencies and the healthcare industry.
Parascript's Product Videos
ESPs containing Parascript
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
Companies in this market automate the creation and processing of thousands of documents banks rely on a daily basis to run their operations. This includes capturing unstructured content and data from documents, and auto-filling and auto-generating templates to give employees time for more high-value work.
Parascript named as Highflier among 12 other companies, including Ephesoft, Hyperscience, and Instabase.
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Parascript's Products & Differentiators
CheckXpert.AI automatically locates, recognizes and extracts data including Payee Line, CAR/LAR, MICR Line, Signature Presence, and more.
Expert Collections containing Parascript
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Parascript is included in 5 Expert Collections, including Robotic Process Automation.
Robotic Process Automation
RPA refers to the software-enabled automation of data-intensive tasks that are low-skill but highly sensitive operationally, including data entry, transaction processing, and compliance.
Companies that received PMA from the FDA since 2014. Companies tagged as #FDAPMA
Health Monitoring & Diagnostics
Companies developing technology for computer-aided diagnostic imaging. Companies tagged as #ComputerAidedDxImaging
Parascript has filed 6 patents.
The 3 most popular patent topics include:
- Artificial intelligence
- Artificial neural networks
- Channel access methods
Latest Parascript News
Feb 1, 2023
On Feb 1, 2023 Parascript, a software company with more than 25 years of experience in data extraction, has released a new version of its Intelligent Document Processing (IDP) solution, FormXtra.AI 8.4. This new version adds multi-language support for content-free handwriting recognition in French, German, Spanish, and Portuguese; nested tables support for better recognition and extraction of data in complex tables; and significant improvements to full-page intelligent character recognition (ICR), trainable fields based on natural language processing (NLP) algorithms, and dynamic signature field location for unstructured documents. “Version 8.4 is huge leap forward for FormXtra.AI. Our R&D team has implemented numerous improvements to increase accuracy and efficiency when automating data extraction from traditionally difficult documents to automate. We’re excited to see the levels of accuracy achievable with documents that include a combination of handwriting and machine print alongside complex tables.” – Dawn Wood, VP Sales. FormXtra.AI is Parascript’s premier IDP software that builds upon the original FormXtra software by enhancing it with the most innovative trends and approaches that exist in deep learning and natural language processing. FormXtra.AI has high universality, which allows the software to classify and extract data in any type of document despite format, style of text, and complexity. Multi-language Support FormXtra.AI 8.4 now provides context-free reading of any type of handwritten text for a broader range of Latin and Cyrillic-based languages than ever before. Vocabulary-free data extraction is now available for documents written in English, French, German, Russian, Spanish, and Portuguese. Full-Page ICR Improvements Automating the extraction of a full page of handwritten and machine-printed data at high accuracy levels is complicated, but now, this complex automation task is more accessible than ever before. In FormXtra.AI 8.4, the Parascript development team has improved its proprietary ICR technology to achieve better performance when recognizing and extracting full-page data. This full-page extraction capability is complemented by artificial intelligence for improvements to accuracy over time. Nested Tables Support This innovative solution allows FormXtra.AI 8.4 to fully automate data extraction from complex tables, including tables with irregular structure and tables nested within tables. It is ready to use on any type of document (structured, semi-structured, and unstructured), and its wide implementation capabilities make this feature a universal capability for use in many applications and many industries. Trainable Fields FormXtra.AI 8.4 includes enhanced capability when locating and extracting paragraphs of text in documents with meaning similar to the meaning of paragraphs used for training. This capability implements a proprietary approach to NLP technology that can be efficiently trained on a limited set of samples (3-50). Using this NLP technology, the software can efficiently solve challenging tasks such as extracting key contractual terms in a legal document, extracting named entities in unstructured documents, locating paragraphs related to the legal description of property within contracts, provide sentiment analysis, and much more. Parascript Parascript’s software saves companies over $1 billion annually. Parascript state-of-the-art software incorporates proprietary AI technologies to provide robust data capture solutions that bring the highest levels of accuracy when processing documents. With over three decades of experience applying AI to solve complex problems, Parascript can automate document-oriented processes in structured, semi-structured, and unstructured formats, drastically reducing human involvement. Parascript has automated the postal industry, mortgage, payment processing, and hundreds of other processes. Write in to firstname.lastname@example.org to learn more about our exclusive editorial packages and programs.
Parascript Frequently Asked Questions (FAQ)
When was Parascript founded?
Parascript was founded in 1996.
Where is Parascript's headquarters?
Parascript's headquarters is located at 6273 Monarch Park Place, Longmont.
What is Parascript's latest funding round?
Parascript's latest funding round is Other Investors.
Who are the investors of Parascript?
Investors of Parascript include Plainfield Asset Management.
Who are Parascript's competitors?
Competitors of Parascript include Ephesoft and 4 more.
What products does Parascript offer?
Parascript's products include CheckXpert.AI and 2 more.
Who are Parascript's customers?
Customers of Parascript include Saxony Partners and Docufree.
Compare Parascript to Competitors
AntWorks is an in Intelligent Document Processing and Automation Company. It uses proprietary Artificial Intelligence technology to unlock, classify and digitize the vital data in the full range of business documents. Its flagship product, CMR+, understands and contextualizes information with minimal intervention. It also processes hard-to-read, complex, ‘unstructured’ content; emails, contracts, reports, tables, images and handwriting. AntWorks provides a platform that integrates artificial intelligence and cognitive process automation to provide smart solutions for enterprises. The company was founded in 2015 and is based in Singapore, Singapore.
KnowledgeLake solutions capture, organize and manage business content. KnowledgeLake delivers document management products and solutions for Microsoft SharePoint.
Instabase is a platform for businesses to build customizable apps for automating different parts of their business. For example, a bank can quickly build an app that can automatically verify customer income in a fraction of a second by combing through documents such as camera pictures or scans of paystubs, tax documents, bank statements, and other similar documents submitted by the customer. The platform comes equipped with the tools for reading documents, data extraction and classification, natural language processing, and optical character recognition. It is designed to enable creators, developers, and organizations to quickly build complex business applications based on their needs.
Paperbox is a SaaS for intelligent document processing in insurance. It uses self-learning AI models to classify documents and extract information from them.
WorkFusion's AI-driven automation and RPA software creates and manages software robots for knowledge work. The company's technology automates business processes by combining AI, RPA and people in one platform. Enterprises in banking and financial services, insurance, healthcare, consumer products, utilities, telecom, retail and more can use WorkFusion to reduce their total costs, up-skill their workforce and to use AI to overcome the complexity of transforming and growing a business. WorkFusion was formerly known as Crowd Computing Systems. The company was founded in 2011 and is based in New York, New York.
Cogent Labs is an artificial intelligence company that conducts fundamental and applied AI research to create business solutions for many fields. Its products include Tegaki, an optical character recognition (OCR) service that allows handwritten documents to be saved as data by scanning them; Kaidoku, a service that can understand text, and accurately structuralize and analyze language information based on its meaning; and Time Series Forecasting (TSF), a predictive analytics engine that can simultaneously process and analyze the time series data from various markets and make accurate forecasts.
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