Croatian computer vision company Microblink has taken on $60 million from US firm Silversmith Capital Partners, the first outside investment the seven-year-old startup has ever accepted. The new funding will accelerate product development, go-to-market plans and team expansion.
The Zagreb-based company builds computer vision products that help businesses digitise documents, automate processes and eliminate manual data entry. Some key applications are digital identity through ID scanning, payments through credit card scanning and purchase data collection through receipt scanning.
By reinvesting profit into business growth, Microblink amassed a customer base that spans 70 countries with enterprises in financial services, market research, insurance, telecom and retail. While the bulk of the team is still in the Croatian capital, the machine vision startup also has offices in London and New York.
Photo: the Microblink team