Microblink secured a $60 million minority investment round from Silversmith Capital Partners

Microblink, a London-UK and Croatia-founded developer of AI-powered computer vision software, announced that it has closed a $60 million minority investment.

The money was led by Silversmith Capital Partners, a Boston-based growth equity firm.

The investment marks the first time Microblink has raised outside capital since its founding seven years ago. The partnership with Silversmith will enable accelerated growth in key business areas including product development, go-to-market and team expansion.

Microblink, founded in 2013 by CEO Darren Bassman, offers a variety of SDKs for digitizing documents, automating processes, and eliminating manual data entry for mobile and web applications. The company’s global customer base spans 60 countries with enterprises in financial services, market research, insurance, telecom, consumer packaged goods, and retail.

Microblink’s founders have bootstrapped the company into a profitable and rapidly growing business by building verticalized computer vision products that help businesses digitize documents, automate processes, and eliminate manual data entry. Key focus areas have included digital identity through ID scanning, payments through credit card scanning and purchase data collection through receipt scanning.