We are excited to announce that Matchstick Ventures Fund III has completed an investment in Mentium. Mentium is an AI copilot that captures, structures, and matches all payment-related documents, automating data entry for transportation companies.

Transportation companies, including freight brokerages, shippers, carriers, and invoice factoring companies, handle a massive number of transactions in accounts payable and receivable. Even smaller companies with just $200 million in gross revenue process approximately 500 transactions every day. Each invoice and payment contract that a company receives involves numerous documents and variables, and the information is typically delivered via email in formats that vary widely thanks to the different contracts, invoices, and billing systems used by America’s more than one million different trucking companies. 

This leaves untold room for mistakes and fraud, with estimates as high as 25% of invoices including some kind of error. This also requires transportation companies to have large financial operations teams to gather all the data, organize it, and understand it. This greatly inflates overhead costs, and leaves them with less time and resources for optimizing their financial operations and strategies. 

Mentium is an AI copilot for transportation companies, converting email inboxes into a data processing tool. Using generative AI and computer vision, Mentium digitizes any type of payment-related documents that are sent via email, regardless of format, and automatically enters data into TMS/ERP systems. AI agents can be deployed into accounts payable and accounts receivable inboxes in as little as five minutes, and from there can categorize, route, and unlock search capabilities, streamlining operations while ensuring 99% accuracy for data entry.

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Mentium’s CEO and co-founder, Aziz Satarov, has deep experience in the transportation and logistics industry, working at BCG before founding a transportation company that grew to $10 million in sales within two years. Aziz felt these exact same points while operating his own company, and we are looking forward to working with him to help set new standards of efficiency and accuracy in the transportation industry.