We've updated the Vic.ai brand to make it reflect our direction and bullish ambition to change the way finance and accounting are executed.
April 20, 2022
4 min read
In connection to raising a $50 million Series B round in 2021, led by ICONIQ Growth with participation from existing investors GGV Capital, Cowboy Ventures, and Costanoa Ventures, Vic.ai announced an increased focus on establishing the company as an enterprise solution. This became the starting point for updating the Vic.ai brand to make it reflect our direction and bullish ambition.
Alex Hagerup, CEO & Co-Founder of Vic.ai says: "Five years of research and development has paid off. Our AI technology is world-class and generates massive ROI for our mid-sized and large enterprise customers. We wanted to double down on this with a new brand presence, increased platform security, SOC2 certification, and a heightened focus on large enterprise deployments."
How the new Vic.ai logo and brand came about
Vic.ai works with accounting and finance visionaries embracing automation and AI to accelerate digital transformation. With that in mind, Vic.ai's Head of Design, Jessie Blind, set out to give Vic.ai's brand a new identity that reflected modernizing inefficient processes to deliver improved financial management.
The new brand came to life on April 18th, when Vic.ai debuted a new website and a fresh look of what an accounting and finance platform could look like. Jessie Blind: "I've always been fascinated by how each design element—from color to font, shape, and composition — influences a person's impression of a brand. That's why it's so important to me that each element perfectly matches a brand's personality and identity. Different identities are driven by different purposes. At Vic.ai, we wanted a brand that conveyed our company's forward-thinking."
Logo, colors, and other brand elements
We wanted to create a logo that represented Vic.ai's role in the market - pushing innovation and bridging technology and humans.
Blind: "The concept of a logo is just as important as the execution. While our logo is abstract, it contains a great amount of symbolism. The V for Vic and the A for AI is symbolized by a triangle — the strongest shape in nature. Two triangles combined make a hexagon, which is both a symbol of the future and a nod to our past branding. The three intertwining corners represent the elemental entanglement of AI, humans, and machines.”
She continues: “Each color provokes different feelings. The color purple is associated with power, ambition, and wisdom, while blue represents authority, trust, and loyalty. Together, the colors look futuristic and evoke innovation. When it comes to the custom font in our logo, it was inspired by nothing less than space. We use a similar font, Nasalization, which is an ultramodern sans serif modeled after the NASA logo.
While we made sure to distinguish ourselves from our competitors, we believe that our brand's identity will be at the forefront of future brand trends."
Pushing the boundaries of tech innovation
We also ensured that this rebrand wasn't merely cosmetic. The look needed to be as powerful and dynamic as our product.
The significance and implication Vic.ai have when it comes to the future of business accounting is limitless. By processing more than 535 million invoices with up to 99 percent accuracy, Vic.ai has helped 10,000+ customers achieve nearly $188 million in cost savings and 6 million hours in time savings.
According to IDC Group Vice President for AI and Automation Research, Ritu Jyoti: "We have now entered the domain of AI-augmented work and decision across all of the functional areas of a business. Responsible creation and use of AI solutions that can sense, predict, respond, and adapt at speed is an important business imperative."
Unfortunately, finance professionals — including more than 1.4 million U.S.-based bookkeepers, accountants, and auditing clerks — are drastically underserved in tech innovation, including AI. Only 9% of AP teams are fully automated, up 3% from a 2019 IFOL survey. Furthermore, a 2021 survey shows that 54% of global AP teams remain only partially automated, leaving accounting teams to manually key invoices into their ERP/Accounting software.
Hagerup explains: "We're pioneering the use of autonomy and intelligence to reinvent how accounting and finance operations are carried out completely. The unique combination of autonomy and intelligence will be pivotal for all key financial processes within the foreseeable future".
"We're in an exhilarating phase of the company, where we plan on adding more than 100 new team members within the coming 12 months, and we're on track to triple our revenues this year. The new brand aligns with the state of our technology and represents pushing the boundaries for technological innovation and redefining an industry that has been quite stale the last couple of decades", he adds.
Much work has gone into this rebrand, and we're very proud of what the Vic.ai team has achieved. We are excited about this new phase, and we hope you'll join us on this journey. Check out our careers page to see if your core values align with ours as we continue to evolve the brand and the product and strive to improve the experience for our customers.