Captricity Inc., an Oakland, CA-based startup that gives customers in regulated industries access to customer data trapped in handwritten forms, raised $35m in Series C round of financing.
The round was led by White Mountains Insurance Group, LTD. (NYSE: WTM) with participation from existing investors Social Capital and Accomplice. In conjunction with the funding, Teresa Chia, Senior Vice President at White Mountains Capital, will join Captricity’s board of directors.
The company, which has raised $49m to date, will use the funds to expand operations.
Founded by CEO Kuang Chen, Captricity provides a SaaS-based platform that transforms handwritten paper forms into digital data leveraging crowd-guided deep learning technology, which can extract data from paper documents, scans, faxes, emails, call centers and web forms – and connect automatically to backend systems to empower advanced analytics.
The company serves a broad range of markets, including insurance, healthcare, government and non-profits.
Since commercializing its solution in 2011, Captricity has served New York Life, AXA, the Food & Drug Administration (FDA), Federal Election Commission (FEC), inVentiv Health, Xerox Healthcare, Innovations in Poverty Action, and others.