Semine

Market position

Semine positions itself as a Nordic provider of AI-driven accounts payable automation, differentiating from OCR- and rules-based invoice processing tools. External recognition cited by the company includes Gartner listings as a leading accounts payable invoice automation provider in 2021 and 2023, top-ten placement on Deloitte's Fast 50 list of fastest-growing Norwegian technology companies in 2022 and 2023, finalist status in the Microsoft SaaS Partner of the Year award in 2022, and a Nordic Start-up Awards finalist placing.

The company emphasises line-level rather than header-only data capture across both cost and purchase order invoices, self-learning automation that improves with each processed invoice instead of static rules, confidence scores attached to every automated action, multi-entity portfolio management from a single interface, and spend insight and analytics derived from the captured invoice data.

Technology

The platform uses machine learning and pattern recognition to interpret invoice content across formats including PDF, scanned documents, EDI, email and PEPPOL XML, capturing both header and line-item data with a stated 99.9% capture accuracy. The AI applies accounting dimensions per line item, performs header- and line-level purchase order and goods-receipt matching, and drives a configurable flow engine for approvals. Each decision is accompanied by a confidence score and the models improve from user approvals and corrections. Integrations exist for SAP, NetSuite and Microsoft Dynamics 365 Finance & Operations and Business Central, with an open API for additional systems, and mobile apps are available for iOS and Android. The company states it became SOC 2 certified in 2024.

Go-to-market

Go-to-market combines direct sales and demo requests through the company's website with an implementation and integration partner ecosystem; partners have built many of the ERP integrations themselves using Semine's open API, and the company has announced new partners such as VB Professional Service Oy in Finland. Sales and delivery teams are located in Oslo, with additional sales presence in Stockholm and Helsinki, and marketing relies on published customer stories, blog content and e-books.

Finance and accounting departments in mid-sized and large organisations with complex accounts payable processes, including groups with multiple legal entities, as well as accounting firms managing invoices for multiple clients. Named customers span property and housing (OBOS, Heimstaden), aviation (Norwegian), roadside assistance (Viking Assistance Group), construction (Skolt Group, Park & Anlegg, Svevia Norway), consulting (Knowit AB) and accounting services (AST Regnskap, SGN Group, Dely, Recover).

Geography

Five locations, with the development centre in Kristiansand, Norway, sales and delivery primarily in Oslo, and sales departments in Stockholm, Sweden and Helsinki, Finland. Customers are described as Nordic organisations, and one customer, Viking Assistance Group, uses the system across five countries.

History

After forming around the 2016 concept, Semine built a platform for automated data capture, cost distribution and workflow for companies and accounting firms. Gartner recognised the company as a leading provider of accounts payable invoice automation solutions in 2021 and again in 2023, and it placed in the top ten of Deloitte's Fast 50 ranking of the fastest-growing Norwegian technology companies in both 2022 and 2023. It was a finalist in the Microsoft SaaS Partner of the Year award in 2022 and a Nordic Start-up Awards finalist. The company obtained SOC 2 certification in 2024. Semine was subsequently acquired by Rydoo; Norwegian investors and employees remain on the ownership side while Eurazeo became majority shareholder.