Hi-Tech Solutions

What Hi-Tech Solutions does

Hi-Tech Solutions is a privately held, Salt Lake City-based developer and supplier of optical character recognition (OCR) and advanced image processing solutions. Founded in 1992, the company has operated in a narrow document-recognition niche for over three decades, building proprietary technology in character recognition and image processing workflows. The firm is small, with 11-50 employees, and is led by founder and CTO Yoram Hofman alongside CEO Shai Lustgarten.

The company's product surface centers on OCR and advanced image processing, which typically encompass document scanning, text extraction, form recognition, and image enhancement for downstream automation. However, the underlying technology stack, specific product names, deployment model, and integration capabilities are not disclosed in the available source material. The firm's public web presence (htsol.com) currently resolves to a verification interstitial rather than substantive product or company information, limiting third-party validation of the current product set.

From a business model standpoint, the company operates as a for-profit private entity whose only documented capital event is a $3,000,000 round led by Pegasus Capital in January 2008. There is no disclosed information on pricing model (license, subscription, transactional, or services), customer segments served, distribution channels, or named customer accounts. The combination of a 2008 vintage last raise, a small headcount, and an inaccessible website suggests a low-revenue, niche operations posture, but the absence of direct financial disclosure prevents any firm revenue triangulation.

Name

Hi-Tech Solutions

Website

https://htsol.com

Company type

Private

Founded year

1992

Headcount range

11–50 employees

Short description

Hi-Tech Solutions is a privately held Salt Lake City firm, founded in 1992, that develops and supplies optical character recognition and advanced image processing solutions to document-automation customers.

Ownership category

akta.pro rank

Product category

Document Processing Software

NAICS

Software Publishers (513210), Software Publishers (5132)

SIC

Services-Computer Processing & Data Preparation (7374), Services-Computer Programming Services (7371)

akta.pro primary industry

Optical Character Recognition (OCR) & Document Vision (HDAAAEAD)

akta.pro secondary industries

OCR, ICR & Intelligent Document Processing (IDP) (BPAAAKAB), Document Capture, Scanning, OCR/ICR & Intelligent Document Processing (IDP) (HDAEAGAD), Intelligent Document Processing (IDP) & OCR Automation (HDAEAHAC)

Keywords

• Optical character recognition
• Image processing software
• Document scanning solutions
• OCR technology
• Data capture software

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Core offering

Hi-Tech Solutions develops and supplies optical character recognition (OCR) and advanced image processing software. The company's solutions convert scanned documents and images into machine-readable text and data for business customers that need to digitize paper-based or image-based records.

Differentiator

Problem solved

Functional benefit

Products and services

• Optical Character Recognition and Image Processing Solutions

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves3 records

Direct peers

• ABBYY: ABBYY is a long-established specialist in OCR, document capture, and intelligent document processing — directly comparable to Hi-Tech Solutions' OCR and image processing focus, and the canonical competitor in the OCR niche.
• Kofax (Tungsten Automation): Kofax is a leading provider of intelligent document processing, OCR, and capture/workflow automation, directly competing with Hi-Tech in enterprise OCR and document imaging use cases.
• Ephesoft: Ephesoft provides AI-driven document capture, OCR, and IDP solutions, making it a closely comparable specialized vendor in the same OCR and image processing category as Hi-Tech Solutions.
• DocuWare: DocuWare offers document management, scanning/OCR, and workflow automation for mid-market customers, with comparable document capture and image processing capabilities to Hi-Tech.

Emerging players

• Rossum: Rossum is an AI-native intelligent document processing platform focused on invoice and business-document OCR, representing the newer generation of OCR vendors encroaching on traditional specialists like Hi-Tech.
• Google Cloud Document AI: Google's Document AI offers cloud-native OCR and document understanding as a service, representing an AI-first entrant reshaping the OCR/IDP market that Hi-Tech operates in.

Broad incumbents

• OpenText (Documentum / Captiva): OpenText is a large enterprise content management and document capture vendor with deep OCR/IDP capabilities, serving as a broad incumbent in the same OCR/document processing space as Hi-Tech.
• Hyland Software: Hyland provides enterprise content management, document capture, and IDP solutions as part of a broader ECM portfolio, overlapping with Hi-Tech's document imaging and OCR focus.
• Adobe (Acrobat OCR / Document Services): Adobe embeds OCR and document processing capabilities across Acrobat and Document Services, providing a broad incumbent OCR alternative for many of the same imaging and document conversion use cases Hi-Tech serves.
• IBM Datacap: IBM Datacap is an enterprise document capture and OCR platform within IBM's broader automation stack, directly comparable to Hi-Tech's OCR and image processing solutions in large enterprise deployments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/684256

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Hi-Tech Solutions