15th Rock has led a $32 million investment in Ripcord, a Silicon Valley startup specializing in automated document digitization through robotics and AI.

Target Company Overview

Ripcord is a Silicon Valley-based startup established from NASA research, specializing in the use of robotics and generative AI to convert physical documents into digital formats. The company provides a unique service that automates the process of scanning paper documents by utilizing its proprietary robotic technology, which can remove staples from paper and index the scanned data. This conversion allows businesses to seamlessly integrate digital documents into their existing IT systems while ensuring that they can be searched easily in the cloud.

Ripcord’s services have been embraced by a variety of clients, including Coca-Cola Bottlers and organizations comparable to Japan's National Tax Agency, the IRS. The startup continues to experience rapid growth every year due to increasing demand from various industries, positioning itself as a leader in document digitization and management. In Japan, Ripcord operates through a joint venture with Fujifilm Business Innovation, known as Fujifilm RIPCORD LLC.

Industry Overview

The document management industry in the United States is witnessing substantial growth, driven by the increasing need for businesses to transition from paper-based operations to digital solutions. This shift is propelled by the need for