Silversmith Capital Partners leads $60 mln institutional funding in Croatia's Microblink

"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 said in a statement on Wednesday.

Microblink builds verticalised computer vision products that help businesses digitise documents, automate processes, and eliminate manual data entry. Its key focus areas include digital identity through ID scanning, payments through credit card scanning and purchase data collection through receipt scanning, the company said.

"As enterprises increasingly move towards automation, we are excited to reinvest in our existing business and explore new ways our computer vision platform can solve pain points for companies across a variety of industries. We believe Silversmith is the perfect partner for us on the next leg of our journey," Microblink co-founder and CEO, Darren Bassman, said in the statement.

Microblink’s global customer base spans 70 countries with enterprises in financial services, market research, insurance, telecom, consumer packaged goods, and retail.

Silversmith Capital Partners was founded in 2015 and has $2 billion of capital under management. Its mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies.

($=0.817693 euro)