Automater of useless work Metamaze acquired

Last modified: 20 February 2024 13:44
The international SaaS player Duco is acquiring the Antwerp scale-up Metamaze.

Duco, one of the largest international players in the field of AI-driven data automation, announces the acquisition of Antwerp’s Metamaze, a fast-growing scale-up specialized in unstructured data interpretation and Intelligent Document Processing (IDP).

Metamaze is a spin-off that was incubated by the Belgian’s leading AI & ML powerhouse Faktion to solve a specific A.I. data extraction problem for a prestigious client in the Belgian financial sector. The goal was to make the smartest possible Intelligent Document Processor in existence that is at the same time easy for end-users to implement and integrate into existing workflows.

Metamaze uses AI and no-code technology, which greatly limits manual processing of documents. The company does this for various sectors, but in recent years has had a strong focus on banking and insurance.

Most corporate data is unorganized, in various document formats such as PDFs, emails, images, and difficult to manage, often leading operations and finance teams to resort to manual entry. They do this, for example, to process insurance claims, structured loans or orders and bills of lading.

Automating these processes has been a real struggle for decades, often leaving employees in these sectors with a lot of repetitive and pointless work. Something that Metamaze previously provided relief for, but thanks to the takeover by Duco, it can provide even more of an answer. Thanks to this acquisition, both companies will now be able to process all types of data from any type of document and automate the processes involved.

“We at Duco have done extensive research into companies in this sector and are pleased to have found a company in Metamaze that shares our vision of how software should be developed – cloud-based, where AI does the heavy lifting and that focuses on guaranteeing a good user experience for the end user, thanks to a no-code framework”, says Christian Nentwich, founder of Duco. “By combining Metamaze with our proven enterprise-grade security and scale, we have been able to quickly and securely introduce even the most demanding companies to this innovation.”

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