From the founder’s desk: Captricity raises Series B funding
July 15, 2014 by Kuang Chen
It’s an exciting day at Captricity HQ:
We have raised $10 million in our Series B investment round, led by Atlas Venture.
We also announced a partnership with New York Life, one of the largest insurers in the world, to help them respond to customers faster by smoothly integrating paper documents into their digital workflow, while cutting data processing costs and increasing revenues.
Recently, we also helped digitize thousands of paper forms as part of openFDA, the FDA’s new open data platform for consumer protection.
I founded Captricity in 2011 because so many organizations are quietly fighting paper backlogs and struggle to make use of their data. Government programs, hospital front desks and insurance claims processing backrooms are inundated with paper, slowing insight and limiting efficiency, and sometimes denying well-being to people who deserve better health.
But “How do we go paperless?” is the wrong question for these organizations to ask. Paper is not the problem – getting accurate, timely data is the problem.With institutions that uphold crucial services, like healthcare and insurance, you can’t start over – you have to transform the status quo.
This new funding and partnership mean a whole lot to us, propelling our mission to give organizations of all types access to the data that matters and drives the world forward.