# Invofox **Source:** https://geo.sig.ai/brands/invofox **Vertical:** Finance **Subcategory:** Accounting Software **Tier:** Emerging **Website:** invofox.com **Last Updated:** 2026-04-14 ## Summary AI invoice processing and AP automation extracting data from PDF invoices; ML-powered routing and approval workflows competing with Tipalti and BILL for accounts payable automation. ## Company Overview InvoFox is an AI-powered invoice processing and accounts payable automation platform that extracts data from supplier invoices (PDF, scanned paper, email attachments) using machine learning, routes invoices through approval workflows, and posts to accounting systems — reducing the manual data entry and processing time that consumes accounts payable teams at growing businesses. Founded in 2019 and headquartered in Europe, InvoFox targets mid-sized businesses with high invoice volumes that want to automate AP without implementing a full enterprise ERP overhaul.\n\nInvoFox's OCR and machine learning extracts key invoice fields (vendor name, invoice number, date, line items, total amount, tax) from invoices in any format, validates the data against purchase orders and vendor master records, and routes non-matching invoices for human review. Approved invoices are posted directly to accounting systems (QuickBooks, Xero, SAP, Oracle) through API integrations. Audit trails, duplicate detection, and approval history provide compliance documentation.\n\nIn 2025, InvoFox competes in the AP automation market against Tipalti (comprehensive AP automation), BILL (formerly Bill.com for SMB AP), Basware, Medius, and Coupa Pay for invoice processing automation. The AP automation market has grown significantly as companies recognize that manual invoice processing costs $10-25 per invoice while automated processing costs $1-5. InvoFox's ML-based extraction improves over time as it learns each company's vendor formats. The 2025 strategy focuses on improving extraction accuracy for complex multi-line invoices, expanding ERP integrations, and growing in European mid-market businesses where AP automation adoption lags North America. ## Frequently Asked Questions ### What is Invofox? Invofox is a Madrid, Spain-based document processing AI company founded in 2015 that provides automated data extraction platforms for software companies. The company processes documents including invoices, receipts, payslips, and bills of lading, serving over 100 software companies worldwide. ### What products and services does Invofox offer? Invofox offers an AI-powered document processing platform that automates data extraction from various document types including invoices, receipts, payslips, and bills of lading. The platform addresses manual data extraction challenges through comprehensive document automation capabilities. ### Who are Invofox's target customers? Invofox primarily targets software companies that need to process documents and require automated data extraction capabilities. The company currently serves over 100 software company customers worldwide. ### When was Invofox founded and by whom? Invofox was founded in 2015 by Alberto Gimeno, Carmelo Juanes, and Adrian Ramirez. The company participated in Y Combinator's Summer 2022 batch. ### Where is Invofox located? Invofox is based in Madrid, Spain. One of the founders relocated to San Francisco in May 2024. ### How much funding has Invofox raised? Invofox has raised over $11M in total funding, including an $8M convertible note in February 2024. Investors include Rebel Fund, JME, YC Continuity, 4 Founders, Matt Robinson, and Stefan Lederer, comprising both European and American investors. ### What are Invofox's key achievements and metrics? Invofox serves over 100 software company customers worldwide and processes tens of millions of documents annually. The company operates with a team of 12 employees. ### What technology does Invofox use? Invofox uses AI-powered technology to automate document processing and data extraction. The platform is specifically designed to address manual data extraction challenges through artificial intelligence. ### How can companies get started with Invofox? Based on the provided information, Invofox serves software companies globally with its document processing platform. Specific contact or onboarding details are not provided in the available information. ### What are Invofox's recent developments? Invofox raised an $8M convertible note in February 2024, bringing total funding to over $11M. One of the founders relocated to San Francisco in May 2024 to support the company's growth. ## Tags b2b, ai-powered, fintech, automation, analytics, startup --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*