Xtract

What Xtract does

Xtract is a private SaaS company founded in 2020 and headquartered in Dover, USA, that sells an AI-powered accounts-payable automation platform to enterprise and mid-market companies. Its product suite spans three core modules — Automatic Invoice Posting (email intake, AI document reading, and ERP entry), Invoice Approval Workflow (online/paperless routing with automatic assignment and reminders), and Expense Management (iOS/Android mobile app for employee expense digitalization) — plus an Xtract Enterprise tier and a public REST API with official SDKs in Ruby, Node.js, Java, and Google Apps Script. The underlying technology is a cloud-native, API-first document-processing platform that reads invoices regardless of layout, country of origin, or language, processing 100 invoices/second (English) to 300 invoices/second (Spanish), and ships pre-built integrations with 19+ ERP systems including SAP, Oracle, NetSuite, Microsoft Dynamics, QuickBooks, Odoo, Xero, Zoho Books, and Latin American regional ERPs (Siigo, Softland, Tango, Siesa, Bejerman). Data is hosted in ISO 27001, FISMA, and ISO 9001:2015 certified data centers with 98.5% guaranteed availability.

Xtract monetizes through a hybrid SaaS subscription with usage-based volume tiers (five bands from under 500 to over 5,000 invoices/month), supplemented by enterprise packages and professional services for implementation. Its go-to-market combines a sales-led motion (demo booking, contact-sales forms, dedicated account management for high-volume accounts) with an API-first self-service developer motion and a global partner program. The customer base of 200+ companies spans enterprise logos including Arcos Dorados, LVMH, Nike, Deloitte, YPF, DIA, Tiendamia, Buenbit, and Camuzzi, with a documented emphasis on multi-country / multi-currency operations and Latin American markets where regional ERP coverage differentiates Xtract from US-centric competitors. Disclosed outcomes include 40% cost reduction in purchase invoice processing and up to 110 hours saved per month per company, with a Tiendamia case study showing average approval-and-accounting time falling from 20 hours to 2 hours.

Name

Xtract

Legal name

Xtract Inc.

Website

https://xtract.app

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Xtract is a private SaaS company that sells AI-powered accounts-payable automation software — invoice reading, approval workflows, ERP posting, and expense management — to enterprise and mid-market companies across 150+ countries, with particular depth in Latin American markets and integrations to 19+ ERP systems.

Ownership category

akta.pro rank

Headquarters

HQ city

Dover

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Subscription (Invoice Processing): Cloud-based subscription model for invoice processing services. Pricing based on processing volume with 'integrated pricing with no hidden fees.' Companies pay for the automation of invoice entry, approval workflows, and ERP integration.
2. Volume-based Processing: Pricing tiers based on monthly invoice/expense volume (less than 500, 500-1000, 1000-2500, 2500-5000, more than 5000). Volume-based pricing indicates usage-dependent component.
3. Enterprise Solutions: Custom enterprise packages for large companies with dedicated features. Xtract Enterprise includes 'the Xtract experience our users love, with the enterprise features large companies need.'
4. Implementation and Support Services: Expert support throughout integration process until fully automated. Professional services for custom integration implementations.
5. Accounting Firm Solutions: Specific solutions for accounting firms with division for each client account and bookkeeping functions.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Xtract is an AI-powered invoice automation SaaS platform that automates the reception, reading, and entry of purchase invoices into customers' existing ERP systems. Its offering combines automatic invoice posting, online paperless approval workflows, and a mobile expense management app (iOS/Android), supported by a REST API with official SDKs and pre-built connectors to 19+ ERP systems including SAP, Oracle, NetSuite, Microsoft Dynamics, QuickBooks, Xero, and Latin American regional platforms.

Product overview

Xtract is an AI-powered invoice automation platform that offers a unified suite of three core products: Automatic Invoice Posting (for automated invoice reading and ERP entry), Invoice Approval Workflow (for online authorization management), and Expense Management App (for team expense digitization). The platform supports integration with 20+ ERP systems via API or flat file, and processes invoices at 100-300 per second using AI. Xtract Enterprise provides advanced features for large organizations. The platform integrates with email systems (Gmail, Outlook) for automatic invoice intake and business intelligence tools (Tableau, Power BI) for reporting dashboards.

Differentiator

Problem solved

Functional benefit

Products and services

• Automatic Invoice Posting AI-powered product that automates the reception, reading, and entry of purchase invoices into the customer's accounting system/ERP. Includes supplier email redirection, an unlimited digital repository, automatic data extraction, and real-time posting status tracking.
• Invoice Approval Workflow 100% online and paperless invoice approval workflow. Automatically assigns invoices to responsible team members, sends automatic reminders to speed up authorization, and provides real-time status tracking. Integrates with the Automatic Invoice Posting module.
• Expense Management App Mobile app (iOS and Android) that digitizes team expense reporting. Enables expense submission, approval workflow, and automatic posting to the accounting system. Marketed as closing month-end reporting 5 days faster and saving up to 26,600 hours annually in expense submission, reconciliation, and reimbursement.
• Xtract Enterprise Enterprise-tier version of Xtract with advanced features required by large companies and high invoice volumes. Used by customers such as Arcos Dorados to automate entry of approximately 2,000 invoices per month.
• Xtract API REST API enabling programmatic access to Xtract's invoice processing capabilities. Supports invoice retrieval with filtering by parameters such as tax IDs, date ranges, and accounting status, and integrates with third-party applications.
• Flat File Integration Integration method that generates flat files (txt, csv, xls) ready to be bulk-imported into any ERP without requiring development work. Implementable in 5 business days.

Quantifiable outcome

• 40% cost reduction in purchase invoice processing without changing ERP
• +6 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration24 records

AI capability4 records

Feature10 records

Partnerships

One partnership is on record.

• Verra MobilitycoreStrategic or Co-development Partner · 1 August 2024Verra Mobility partnered with Xtract in August 2024 as noted in the Fleet Management Market report. This partnership is a notable strategic development connecting Xtract with the mobility management sector.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ramp: Ramp is a corporate card and expense management platform with AI-powered bill pay and AP automation. It overlaps with Xtract on automated invoice capture, approval workflows, and ERP sync.
• AvidXchange: AvidXchange is a leading AP automation provider specializing in mid-market invoice automation with deep ERP integrations. Comparable to Xtract on invoice capture, approval workflows, and ERP connectivity.
• Yooz: Yooz is a cloud-based AI-powered AP automation solution with strong presence in Europe and multi-country/multi-currency support. Closely comparable to Xtract's invoice AI and ERP integration capabilities.
• Tipalti: Tipalti provides end-to-end accounts payable automation including invoice capture, approval workflows, and global payments — competing head-to-head with Xtract, especially for mid-market and global enterprises.
• Bill.com: Bill.com is a leading cloud-based AP/AR automation platform serving SMB and mid-market businesses. It directly competes with Xtract on automated bill capture, approval workflows, and ERP/bank integration.
• Brex: Brex provides corporate cards plus AI-driven expense and bill pay automation for startups and enterprises. Overlaps with Xtract on automated invoice processing and ERP integration.
• Stampli: Stampli is an AI-powered AP automation platform focused on invoice capture, collaborative approval, and ERP integration. Directly comparable to Xtract's invoice posting and approval workflow products.

Broad incumbents

• Coupa: Coupa is a broad business spend management platform with AP automation as one component of a larger suite. Overlaps with Xtract on invoice capture and approval workflows, primarily serving larger enterprises.
• SAP Concur: SAP Concur is the incumbent expense and invoice management platform within SAP's ecosystem. It competes with Xtract on invoice processing and T&E expense management for large enterprises.

Emerging players

• Vic.ai: Vic.ai is an AI-first autonomous AP platform focused on invoice processing and approval automation. Comparable to Xtract on AI-driven invoice reading and ERP integration for mid-market and enterprise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xtract_app
• GitHubgithub.com/xtractapp
• LinkedInlinkedin.com/company/xtractapp
• Instagraminstagram.com/xtractapp

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Xtract