Extend Raises $17 Million to Build the Document Processing Cloud

June 17, 2025 at 09:02 AM EDT

Funding to accelerate go-to-market and meet rising demand for transforming complex PDFs into structured, validated, production-ready data.

Extend, the leading AI-native document processing platform, today announced $17 million in seed and Series A funding. The round was led by Innovation Endeavors, with participation from Y Combinator, Homebrew, Character, and prominent angel investors including Scott Belsky (former CSO of Adobe) and Guillermo Rauch (CEO of Vercel).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250617790342/en/

Kushal Byatnal, co-founder and CEO of Extend (Left) with Eli Badgio, co-founder and CTO of Extend (Right)

“We’ve seen remarkable momentum over the past year, and this funding allows us to double down on our mission of helping ambitious teams unlock the full potential of their unstructured documents,” said Kushal Byatnal, co-founder and CEO of Extend. “We quickly reached multi-millions in annual recurring revenue, surpassing the total capital raised in our seed round, all while becoming cash-flow positive. Now, we’re scaling to meet growing demand from technical teams who rely on Extend for accuracy, speed and precision in their document ingestion.”

Extend sets a new standard for document processing with the only solution that offers a complete, end-to-end platform built on cutting-edge large language models (LLMs). Previously, legacy OCR and fragmented tooling meant that companies struggled to hit accuracy targets and spent months stitching together brittle pipelines. Extend solves this by unifying an advanced parsing engine to handle messy handwriting and tables, evaluation tools that ensure reliability, and orchestration for deploying production-ready pipelines. Teams avoid months of R&D solving for edge cases and accuracy gaps, and quickly go from raw PDFs to structured, validated, production-ready data — with 95%+ accuracy on everything from clean documents to degraded scans.

For industries where precision and reliability are non-negotiable — like healthcare, finance, logistics, and others — this makes all the difference.

“Extend outperformed every solution we tested — including other vendors, open source and even foundation models,” said Pedro Franceschi, CEO of Brex, a modern finance platform and Extend customer. “It now powers key document workflows across our 30,000 customers, helping us build the most intelligent and modern financial platform out there.”

“Documents are often the system of record for mission-critical business data, but reliably extracting that data has always been a challenge,” noted Eli Badgio, Extend co-founder and CTO. “We built Extend to change that — delivering state-of-the-art accuracy out of the box, letting teams go from prototype to production in days instead of months. With modern APIs for developers and intuitive tools for operators, we’re helping companies unlock the full value of their documents, faster than ever.”

The new funding will be used to scale Extend’s engineering and go-to-market teams, further invest in R&D and accelerate product development. Today’s launch includes a self-serve version of Extend’s platform, enabling teams to get started immediately.

“Extend is reimagining document intelligence with a full-stack approach that combines cutting-edge LLMs with all the other developer primitives needed to process complex documents reliably,” said Davis Treybig, Partner at Innovation Endeavors. “The product is so powerful that many of Extend’s customers are not only able to automate existing workflows, but launch entirely novel features that drive competitive differentiation.”

Extend customers include Brex, Square, Checkr, Flatiron Health and multiple Fortune 500s — teams that rely on Extend’s platform to process millions of documents with precision and reliability.

To view the Extend launch blog post and video, please visit: https://www.extend.ai/resources/series-a

About Extend

Extend revolutionizes document processing by rebuilding document AI from the ground up using Large Language Models (LLMs). Its platform handles complex documents — tables, signatures, handwriting, images — with exceptional accuracy for structured PDFs and degraded scans. Extend offers robust document classification, extraction and splitting tools, built-in evaluation features and custom fine-tuning pipelines that improve over time. Extend is trusted by leading AI and technical teams to transform documents into high-quality, production-ready data.

Learn more at www.extend.ai