Reducto, a U.S.-based AI startup specializing in converting complex documents into inputs for large language models (LLMs), has raised $24.5 million in a Series A funding round led by Benchmark. The round also included participation from investors such as First Round Capital, BoxGroup, and Y Combinator. This latest funding follows an $8.4 million seed round in October 2024. Reducto's technology is used by companies including Airtable, ScaleAI, and Vanta to accurately extract data from unstructured documents. The startup aims to build advanced document infrastructure to support leading AI teams. In 2025, nineteen U.S. AI startups have raised $100 million or more, while nineteen fintech startups have raised over $50 million so far this year.