Veryfi Adopts JustPaid’s AI-Powered Revenue Automation Platform for B2B

Optical character reader (OCR) platform Veryfi adopted JustPaid’s artificial intelligence (AI)-powered revenue automation platform for businesses.

For over six months, Veryfi has been uploading all of its sales contracts to the JustPaid platform, which uses AI to generate invoices and sends the invoices to Veryfi’s customers to collect Veryfi’s revenue, the companies said in a Tuesday (Feb. 11) press release.

“The accuracy with which we are able to run our operations has been made exponentially easier through the adoption of JustPaid,” Veryfi Co-Founder Dmitry Birulia said in the release. “Their attention and ability to take in our sales contracts and easily invoice is delightful to use.”

JustPaid’s platform uses AI to automate revenue operations and help businesses manage business-to-business (B2B) invoices and recurring payments with greater accuracy and efficiency, according to the release.

The platform is designed for startups, small, medium and large businesses, per the release.

“Veryfi has been an excellent partner for us, and we are proud they’ve adopted JustPaid into their day to day,” JustPaid Co-Founder and Founding Engineer Vinay Pinnaka said in the release. “To play a part in setting them up for success is why we do what we do, and why we started this business.”

JustPaid debuted its product suite in June 2023 after raising $3.5 million in seed funding.

“Before we launched JustPaid, I was struggling with the lack of workflow,” Anelya Grant, co-founder, chief product officer and chief financial officer at JustPaid, said at the time in a press release.

“There are so many software solutions, but I had to piece it all together through Excel, and reading PDF documents. I was spending hours trying to answer a few questions all companies had — what’s our revenue, can we afford to hire more people, and when will we run out of money?”

At launch, JustPaid offered automated bill payment, contract validation and real-time AI financial auditing.

In March, the company added several accounts receivable and accounts payable reporting features to its platform.

In April, it launched a billing platform API that helps businesses automatically track product usage and generate invoices. With the API, JustPaid customers can have a turnkey solution for usage-based billing.