This merger unites Ripcord’s advanced AI robotic technology and Intelligent Document Processing (IDP) solutions with VASTEC’s expertise in secure document conversion and data transformation solutions to provide organizations with access to best-in-class technology and expertise.
Ripcord, an Intelligent Document Processing (IDP) provider, announced on January 29, 2025, that it has merged with document and data transformation company VASTEC, which brings an 18-year proven track record in the government and enterprise sectors.
Sam Fahmy, CEO of Ripcord/VASTEC, commented: “This merger marks a transformational milestone for our companies and the digitization space. By uniting Ripcord’s advanced robotic and AI technologies with VASTEC’s customer depth and proven track record, we are poised to transform digitization, particularly in the enterprise and government sectors, where scale, speed, and security are paramount.”
Richard Salem, Founder of VASTEC, added: “The combination of Ripcord’s technology and VASTEC’s expertise creates an unparalleled offering for customers looking to modernize their document management. As organizations look to digitize, modernise, and safeguard their records, this merger ensures they have access to best-in-class technology and expertise.”
Last April, Ripcord announced the closing of its $32 million funding round, which included participation from Kleiner Perkins, Google Ventures, Icon Ventures, Lux Capital and MUIP, with additional support from FUJIFILM Business Innovation.
Headquartered in Hayward, California, Ripcord offers a Document Intelligence as a Service (DIaaS) platform. Leveraging advanced robotics, generative AI and Machine Learning capabilities, Ripcord digitizes, captures, and classifies data, and intelligently extracts and abstracts it from paper and digital records to make it accessible and actionable for enterprises.
You can find the full press release here.
📨Get IDP industry news, distilled into 5 minutes or less, once a week. Delivered straight to your inbox ↓
