BERKELEY, Calif., June 3, 2013 — Captricity, the leader in converting the most difficult documents, including handwriting on paper, into structured data, today announced a $2.4 million Series A round of financing. The funding will enable Captricity to focus on customer outreach and further its commitment to making it easier for organizations to capture data and integrate it into cloud data workflows. The round was led by The Social+Capital Partnership, with Atlas Venture and Knight Enterprise Fund(Knight Foundation) also participating.
This $2.4 million Series A round brings the total company funds raised to $4 million, which also includes original investments from Social+Capital, Atlas and Knight.
Chamath Palihapitiya, founder and partner at Social+Capital, will join the company’s board.
“Captricity’s technology addresses a significant issue that many organizations are dealing with which is the need for all their data to be useful and accessible. While the future is digital, much of a company’s past and present data is analog, and a lot of it is on paper. We make the process of moving workflows into the cloud painless and efficient by turning data from documents into digital formats,” said Captricity Founder Kuang Chen.
“As investors, we always seek to back companies with amazing ideas that make the world a better place,” said Palihapitaya. “Captricity is making data work for organizations rather than the other way around, which is no easy task. The potential of data has been over promised and under delivered. What Captricity is doing shifts the balance in the right direction.”
Captricity, an award-winning, Berkeley, CA-based company, has pioneered a crowd-guided machine learning and computer vision platform that turns paper, fax and PDF forms into actionable data in hours, with 99 percent accuracy. Captricity handles the hardest documents with ease, including handwriting on paper and human marks of all types. Captricity’s solution saves time, money and effort by eliminating both costly and error-prone manual data entry and complex and expensive custom software solutions.
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