Proof of Usefulness Report

Xtracta

Analysis completed on 2/14/2026

+398
Proof of Usefulness Score
Certified Problem Solver

Xtracta is a legitimate, established New Zealand-based AI data extraction company (founded 2010) with verified traction significantly exceeding the submission's poor quality. While the submission used hyperbole ('everyone') and vague data ('marketcap: 17000000'), external verification confirms ~$4M annual revenue, integration with major platforms (Xero, MYOB, Sage), and processing of >10 million pages/month. The project demonstrates high real-world utility and B2B traction, but the score is dampened by the low-effort submission quality and mature, competitive market timing.

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Score Breakdown

Real World Utility+22.5
Audience Reach Impact+12.8
Technical Innovation+10.5
Evidence Of Traction+17.0
Market Timing Relevance+7.0
Functional Completeness+1.0
Subtotal+70.8
Usefulness Multiplierx1.02
Final Score+398

Project Details

Project URL
xtracta.com
Description
Xtracta provides technology, powered by artificial intelligence that automatically captures data from documents. Supporting scanned, photographed or digital documents, the technology is designed to be embedded into mobile, cloud or desktop applications via an easy to use API. Utilising machine learning and Big Data, the technology doesn't require manual template setup and can scale to a limitless count of document designs; perfect for document types like invoices, receipts, contracts and more. Xtracta's technology is typically used by software companies, outsourcing providers or business process solution providers. Delivered over the cloud, the technology is simple to deploy for many applications including those in the cloud or on-premise.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline