Heron Makes Big Splash in Small Business Finance Industry

Heron, a startup using AI to automate workflows, just raised a $16M Series A round. Already a well-known brand in the small business finance industry, the funds will be used to grow their presence, expand into adjacent verticals, and grow their go-to market & and engineering teams.

While Heron serves top tier clientele like insurance carriers and FDIC-insured banks, its technology can be utilized at almost any level.

“Our technology is built to serve funders of all sizes from industry leaders like Bitty, Forward, Vox, and CFG to sub-five person shops originating hundreds of thousands of dollars a month,” the company told AltFinanceDaily. “If a team is receiving 25 or more submission documents per day, Heron can deliver immediate value by automating their document intake and reducing manual review time. Our platform scales to meet volume, and we often see smaller, fast-moving teams who want to scale submissions and originations without scaling headcount benefit the most from Heron.”

Heron noticed that small business lenders were employing teams of underwriting analysts that spend hours on repetitive intake work and created a process to streamline it within seconds. Consequently, they’ve seen that improving efficiencies in this market has had a positive impact on the economy overall.

“At Heron, we believe that SMB lending is the backbone of the American economy — it powers everything from local restaurants to trucking fleets,” the company said. “But outdated, document-heavy processes slow things down. Heron helps lenders move faster and smarter, so they can get capital to the businesses that need it most.”

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future AltFinanceDaily events here.