Vic.ai

What Vic.ai does

Vic.ai is a New York-based software company operating under the legal entity XFO Financials Inc. and founded in 2016 by Alexander Hagerup (CEO) and Kristoffer Roil. The company builds an AI-native autonomous accounting platform targeting enterprise finance teams and accounting firms, with primary use cases in accounts payable automation, invoice processing, PO matching, approvals, bill payment, and corporate expense management. The company serves customers across at least seven verticals including transportation and logistics, manufacturing, construction, retail, aerospace, hospitality, and consumer goods, and has expanded its go-to-market to explicitly target private equity-backed portfolio companies seeking cash-flow and EBITDA improvements.

The platform is modular, centered on the APSuite core, and integrates natively with more than a dozen major ERP systems including SAP S/4HANA, Oracle NetSuite and Fusion, Microsoft Dynamics GP/NAV/Great Plains, Sage Intacct, Acumatica, Workday, Xledger, RealPage, AppFolio, and Viewpoint Vista via an open API. Its proprietary AI is trained on hundreds of millions of invoices and is positioned to operate without templates, achieving claimed 97-99% day-one accuracy, an 85% no-touch rate by month six, and 5x faster invoice processing. Recent product additions include VicInbox (agent-powered AP inbox), VicCard (AI-first corporate expense cards), VicPay (bill pay and vendor portal), VicAnalytics, and VicAgents (agentic AI partners for finance workflows), signaling an architecture shift from process automation to autonomous agentic execution.

Vic.ai operates a subscription-based SaaS model with quote-based pricing and tiered analytics packages (Standard, Advanced, Premium) on annual billing cycles. Revenue is generated primarily through direct enterprise field sales targeting CFOs, Controllers, and AP Managers, supplemented by a channel partner network of technology partners and VARs. The company has raised a total of $52 million in a Series C round in December 2022 led by GIC with participation from Goldman Sachs, WestCap Group, and Canvas Ventures, reports $13.9 million in ARR as of 2023, employs 51-100 people, and was named a Leader in Small Business and Major Player in Midsized/Enterprise segments of the IDC MarketScape: Worldwide Accounts Payable Automation Software 2024 Vendor Assessment.

Name

Vic.ai

Legal name

XFO Financials Inc.

Website

https://vic.ai

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Vic.ai is an AI-native autonomous accounts payable platform serving enterprise finance teams and accounting firms. It uses proprietary AI trained on hundreds of millions of invoices to deliver template-free invoice processing, PO matching, approvals, payments, expense management, and analytics integrated with major ERP systems.

Ownership category

akta.pro rank

Product category

AI Accounts Payable Automation Software

NAICS

Software Publishers (513210)

akta.pro primary industry

End-to-End Enterprise AI Platforms (MLOps & Model Lifecycle Management) (HDAEANAA)

akta.pro secondary industry

iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG)

Keywords

• Accounts payable automation
• AI invoice processing
• Autonomous accounting software
• PO matching platform
• Corporate expense management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription-based SaaS: AI-powered AP automation platform delivered as subscription service with tiered analytics packages (Standard, Advanced, Premium)

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Vic.ai operates an AI-native autonomous accounting platform that automates accounts payable end-to-end, including invoice ingestion, contextual data extraction, PO matching, approvals, payments, and analytics. The platform is sold to enterprise finance teams and accounting firms as a modular SaaS suite (APSuite, VicInbox, VicPay, VicCard, VicAnalytics, VicAgents) that integrates with major ERP systems.

Product overview

Vic.ai is an AI-native autonomous finance platform that offers a modular product architecture centered on its APSuite platform. The portfolio includes core AP automation modules (Invoice Processing, PO Matching, Approvals), agent-powered solutions (VicInbox with Victoria, VicAgents), payment solutions (VicPay, VicCard), and analytics (VicAnalytics). All modules are designed to work together as a unified platform, enabling end-to-end autonomous accounting from invoice ingestion through payment execution.

Differentiator

Problem solved

Functional benefit

Brands

• VicInbox: Agent-powered AP inbox for Accounts Payable automation and email management.
• VicCard
• VicAnalytics
• VicAgents
• VicPay

Products and services

• Vic.ai APSuite Flagship AI-first accounts payable automation platform providing autonomous invoice processing, 3-way and 4-way PO matching, configurable approval workflows, and 97-99% invoice data extraction accuracy without templates. Designed for enterprise finance departments and accounting firms.
• VicInbox Agent-powered AP inbox featuring Victoria that automates email management and centralizes invoice intake for accounts payable operations. Built to enable centralized AP workflows across email channels.
• VicPay Bill pay and vendor portal solution that enables organizations to securely initiate and manage vendor payments directly within the Vic.ai platform, extending automation from invoice processing to payment execution.
• VicCard AI-first corporate expense card product with real-time transaction classification and expense consolidation, providing a unified view of non-payroll corporate spend.
• VicAnalytics AI-powered analytics and insights module with tiered dashboards (Standard, Advanced, Premium) providing real-time visibility into invoice workflows, team productivity, and business entity performance.
• VicAgents Agentic AI partners built specifically for finance workflows, representing the evolution from automated AP processing to autonomous AI agents that can perform complete AP workflows on behalf of finance teams.

Quantifiable outcome

• 97-99% accuracy on invoice data extraction and coding
• +11 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability8 records

Feature8 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• MicrosoftcoreTechnology or IntegrationVic.ai integrates with Microsoft Dynamics GP, Microsoft Dynamics NAV, and offers ERP integrations that work seamlessly with Microsoft ecosystem products
• OraclecoreTechnology or IntegrationVic.ai integrates with Oracle Fusion Applications and Oracle NetSuite ERP systems
• SagecoreTechnology or IntegrationVic.ai integrates with Sage Intacct for seamless AP automation workflow
• SAPcoreTechnology or IntegrationVic.ai integrates with SAP S/4 HANA for enterprise AP automation
• WorkdaycoreTechnology or IntegrationVic.ai integrates with Workday financial management system
• AcumaticacoreTechnology or IntegrationVic.ai integrates with Acumatica cloud ERP platform
• XledgercoreTechnology or IntegrationVic.ai integrates with Xledger for cross-entity AP automation
• RealPagecoreTechnology or IntegrationVic.ai integrates with RealPage property management ERP
• AppFoliocoreTechnology or IntegrationVic.ai integrates with AppFolio property management and accounting software
• Viewpoint (Trimble)coreTechnology or IntegrationVic.ai integrates with Viewpoint Vista construction ERP
• Private Equity FirmscoreStrategic or Co-development PartnerPrivate equity-backed companies increasingly adopting Vic.ai for operational efficiency, cash flow optimization, and scalable growth capabilities
• Value-Added Resellers (VARs)minorChannel Partner/ Reseller/ DistributorExtensive partner network includes VARs reselling and distributing Vic.ai solutions

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tipalti: Direct AP automation and global payments competitor targeting mid-market and enterprise finance teams with similar AI-driven invoice processing and supplier management capabilities.
• Bill.com: Public AP automation and bill pay platform serving SMB and mid-market accounting partners; competes with Vic.ai on automated invoice capture, approvals, and vendor payments.
• Stampli: AI-powered AP automation platform focused on invoice processing, collaboration, and payments for mid-market and enterprise customers — directly comparable product and buyer to Vic.ai.
• AvidXchange: Long-standing AP automation vendor for mid-market and enterprise, with invoice, purchase order, and payment workflows that overlap materially with Vic.ai's AP suite.
• Yooz: Cloud AP automation vendor using AI for invoice capture and workflow, serving mid-market and enterprise customers in a comparable way to Vic.ai.
• Medius: AP automation and spend management vendor with AI-based invoice processing; direct competitor to Vic.ai across mid-market and enterprise finance teams.

Broad incumbents

• BlackLine: Public accounting automation platform covering close, intercompany, and AP; broader portfolio than Vic.ai but overlapping in invoice-to-cash and AP automation for enterprise finance.

Emerging players

• Ramp: Fast-growing corporate card and spend management platform with bill pay and AP automation features that increasingly overlap with Vic.ai's VicCard and VicPay modules.
• Brex: Corporate card and expense platform with embedded bill pay capabilities; comparable to Vic.ai's expansion into expense management and payments for enterprise customers.
• Airbase: Spend management platform combining corporate cards, AP automation, and approvals; overlaps with Vic.ai's APSuite plus VicCard and VicPay modules.

Market position

Strengths5 records

Weaknesses5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/VicDotAi
• YouTubeyoutube.com/channel/UCGehW1Wx0nBt2VEm2W1H4qA
• Facebookfacebook.com/vicdotai
• LinkedInlinkedin.com/company/vic.ai
• Instagraminstagram.com/vicdotai

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vic.ai