Oakland-based startup Captricity Inc., has announced a $35 million Series C round of financing led by White Mountains Insurance Group, LTD. to further develop its cloud-native Data-as-a-Service platform. This brings Captricity's total funding to $49 Million.
Captricity works closely with clients in the insurance, government and non-profit sectors. Its proprietary technology “combines deep learning and human intelligence to convert complex handwritten forms into actionable data, providing customers seamless access to customer information without risky business process transformation requirements,” a company spokesperson noted.
"We believe Captricity is uniquely positioned to disrupt the insurance, healthcare and government sectors with its Data-as-a-Service solution designed to eliminate inefficient manual data entry processes," said Teresa Chia, senior vice president at White Mountains Capital, Inc. "Captricity’s technology delivers unprecedented accuracy - even on complex handwritten forms - that allow Captricity customers to deliver a game-changing, best-in-class experience for customers and constituents alike.”
According to the Captricity spokesperson, the firm’s cloud solution “features unique crowd-guided deep learning technology that can extract data from any source - paper documents, scans, faxes, emails, call centers and web forms - and connect automatically to backend systems to empower advanced analytics and eliminate the need for costly, ineffective manual data entry processes.”
While Captricity works most prominently with clients in insurance, healthcare, government and non-profits, it serves a broad range of markets.
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