The unglamorous truth about enterprise AI is that most of the value still sits in PDFs nobody wants to read. Anyformat, a Madrid outfit founded last year, has spent eighteen months pitching large institutions on the idea that an agent can read those documents, cross-check them against an internal database, and route the result, without sending anything to a US hyperscaler.
A €3.3M seed with a sovereignty pitch
On 27 November, Anyformat closed a €3.3 million seed led by Kibo Ventures, with 4Founders, Abac Nest Ventures, and Decelera Ventures returning from the company's €520,000 pre-seed in June [Yahoo! Finance, November 2025] [EU-Startups, November 2025].
| Metric | Value |
|---|---|
| Pre-seed (Jun 2025) | 0.52 M USD |
| Seed (Nov 2025) | 3.57 M USD |
Management expects to cross €1 million in ARR in 2026 [Yahoo! Finance, November 2025].
What the agent actually does
The product reads contracts, invoices, emails, and presentations in any layout, extracts structured data, and triggers downstream workflows like approvals or routing [anyformat.ai]. It combines generative models with deterministic rules and a no-code orchestration layer [PERPLEXITY SONAR PRO BRIEF].
The customers doing the validating
Anyformat has deployments at L'Oréal Group, IAG Group, Iberia, and the Singapore Government [Cardboard, 2026] [Pulse 2.0, November 2025]. On L'Oréal's commercial invoicing team, the company reports a 60% reduction in processing time and 99% extraction accuracy [anyformat.ai].
The competitive read
Document intelligence is one of the most crowded categories in enterprise software. Anyformat is entering with a seed round that would not cover a quarter of Hyperscience's sales payroll.
The team
| Name | Role | Source |
|---|---|---|
| Juan Huguet-García | Co-founder, CEO | [LinkedIn, 2026] |
| Diego Pérez-Sastre | Co-founder, CTO | [EU-Startups, November 2025] |
What to watch in 2026
The €1 million ARR target is the headline number, but the more telling milestone will be whether Anyformat converts the HTX proof-of-concept into a paying public-sector contract, and whether it lands a second flagship in regulated European finance or insurance.
Sources
- [Yahoo! Finance, November 2025] Anyformat closes a €3.3 million seed round led by Kibo Ventures | https://finance.yahoo.com/news/anyformat-closes-3-3-million-110000652.html
- [EU-Startups, November 2025] Madrid's Anyformat closes €3.3 million round | https://www.eu-startups.com/2025/11/madrids-anyformat-closes-e3-3-million-round-to-scale-its-agentic-ocr-and-data-sovereignty-focused-document-tools/
- [Pulse 2.0, November 2025] Anyformat Raises €3.3 Million Seed Funding | https://pulse2.com/anyformat-3-3-million/
- [PRNewswire, November 2025] Anyformat closes a €3.3 million seed round | https://www.prnewswire.com/news-releases/anyformat-closes-a-3-3-million-seed-round-led-by-kibo-ventures-with-the-aim-of-transforming-document-management-for-global-corporations-302627516.html
- [anyformat.ai] AI Document Processing & Workflow Automation | https://anyformat.ai/
- [Cardboard, 2026] How anyformat automated 95% of SaaS expense management | https://cardboard.inc/customers/anyformat-ai/
- [SGInnovate, July 2025] Dimension X Cohort 5 Demo Day | https://www.sginnovate.com/event/dimension-x-cohort-5-demo-day-hatch-innovation-centre-htx
- [LinkedIn, 2026] Diego Perez Sastre | https://www.linkedin.com/in/diego-perez-sastre/
- [PERPLEXITY SONAR PRO BRIEF] Web-grounded research compilation