Scrypt AI LLC

Based in Massachusetts, the US, and founded in 2020, Scrypt AI LLC operates as a platform that utilizes machine learning and artificial intelligence to deliver zero-touch invoice coding, digital payments, and account reconciliation. The company is headed by its CEO Andy Vidan and Co-Chairman Shai Stern, who led the Seed funding round in April 2021. Scrypt AI applies machine learning to invoice coding and check processing to streamline accounts payable (AP) and accounts receivable (AR) operations. The automation reduces processing times, removes human error, improves vendor relations, and increases compliance, which leads to significant cost reduction.

The company generates revenue through subscription fees from clients using its Integrated Payables and Receivables platform which already processed over USD 1 billion in invoices as of March 2021. Scrypt AI plans to expand its market-ready products across several industry sectors.