SMACC GmbH

SMACC GmbH is a Germany-based company specializing in automation tools that enhance invoicing and accounting processes for businesses, utilizing artificial intelligence to optimize data capture and streamline financial operations. SMACC GmbH focuses on automating invoicing and accounting functions for small to medium-sized enterprises. The company was founded by Janosch Novak, Stefan Korsch, and Ulrich Erxleben. SMACC is headquartered in Germany and has expanded its operations to Austria and Switzerland.

The company has successfully secured funding through multiple rounds, including a recent Grant round in which they raised EUR 1. 750 mn from InvestitionsBank des Landes Brandenburg, bringing the total amount raised to EUR 3. 500 mn. SMACC offers a comprehensive suite of automation tools designed to streamline invoicing and accounting processes for businesses.

Their core product focuses on incoming invoice processing, integrating advanced artificial intelligence (AI) to automate the capture of up to 30 fields of invoice data, including item information. The platform facilitates efficient supplier management, digital document organization, and customizable approval workflows, catering primarily to small and medium-sized businesses in Germany, Austria, and Switzerland. SMACC generates revenue primarily through a subscription-based model, offering tiered pricing plans that include a Startup plan at EUR 199 per month, a Standard plan at EUR 399 per month, and an Enterprise plan at EUR 599 per month. Each plan provides specific document uploads and user access, establishing a clear revenue model linked to client consumption of the company's services.

SMACC GmbH plans to expand its product offerings with new features designed to enhance user experience and functionality, targeting a launch in the next 12 months. The company aims to penetrate additional European markets, specifically targeting France and the Netherlands by the end of 2024. The recent funding of EUR 1. 750 mn will be utilized to support these initiatives and facilitate further development of their automation solutions, enhancing their market presence.