Document AI specialist company iPapyrus Co., Ltd. (CEO Kim Jeong-hee) announced on the 25th that it has acquired a 100% stake in DocRaptor, LLC, an HTML document conversion API specialist company headquartered in Indianapolis, USA.
The acquisition was completed entirely with cash on hand through Artifex Software, Inc., iPapyrus' US subsidiary. DocRaptor's existing organization and brand will remain intact, and key technical personnel, including founder and CEO Matthew Gordon, will remain in place.
DocRaptor provides an API service that converts HTML-based content into high-quality PDF or Excel documents. It boasts a high 99.99% service availability and holds global information security certifications such as SOC2 and HIPAA. Based on compatibility with various programming languages and platforms, it currently has approximately 1,200 active customers in the United States.
Representative clients include NVIDIA, Shopify, Accenture, VMware, HubSpot, GoDaddy, and the Linux Foundation, and it is also known to be highly utilized in the edutech field, particularly by providing customized PDF solutions to higher education institutions in the United States.
Through this acquisition, iPapyrus plans to pursue technological integration between PDF.co, a global SaaS platform acquired in 2023, and DocRaptor. PDF.co provides functions such as PDF creation, editing, conversion, and data extraction in API form, and by combining it with DocRaptor's HTML-based precision rendering technology, iPapyrus expects to implement high-quality document services in various business areas, such as ▲advanced business document automation ▲customized report generation ▲tax invoice and bill processing.
Additionally, we plan to cross-sell the DocRaptor API to PDF.co's approximately 4,300 global service subscribers and implement a two-way package sales model that offers the Artifex product line to DocRaptor's customers.
Kim Jeong-hee, CEO of iPapyrus, said, “This acquisition is a strategic decision that goes beyond functional expansion and comprehensively secures technological capabilities, a customer base, and a recurring revenue structure in the North American market.” He added, “We will continue to introduce advanced global SaaS product lines that respond to complex document processing demands.”
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