Klarity will accelerate product and business growth with this Series A led by Tola Capital, with the ambition of automating all data analysis for mid-market & enterprise.
Fremont, CA: "This funding round represents a huge leap forward for Klarity and its customers and a resounding vote of confidence for our platform. We are thrilled to welcome new investors on board and incredibly proud that our existing investors not only participated in this round but grew their investments exponentially," said Ondrej Antos, CEO, and co-founder of Klarity. "We're excited to invest heavily in building a unique community for revenue accounting professionals, supporting our existing customers, and continuing growing at an exponential pace," added Ondrej Antos.
Klarity, the AI platform that converts documents into structured information and frees humans from tedious and time-consuming document review, released an 18 million dollars Series A fundraising round headed by Tola Capital, with participation from new and current investors. With a 5x increase in revenue over the last three quarters, the firm continues to scale and satisfy the demands of midmarket and corporate finance and accounting teams. This round of funding will get used to expanding Klarity's engineering and Go-To-Market teams to offer the world's most advanced document tracking and management platforms for finance and accounting teams in midmarket and enterprise firms. Tola Capital's Managing Director and Founder, Sheila Gulati, will join the board of directors.
Most businesses rely on a time-consuming, manual review process to extract mission-critical data from required documents for order processing, billing, and revenue recognition. The Klarity platform automates these procedures, eliminating the need for manual review and freeing highly qualified individuals from the most time-consuming aspects of their professions. Klarity's technology was developed over four years, utilizing cutting-edge Natural Language Processing, Computer Vision, and general Machine Learning approaches to comprehend documents to the same degree as a person.
Today, most businesses are unaware that there is a technical solution to this pervasive problem. This new money will allow Klarity to establish and grow sales and marketing to reach and educate the many businesses poised to profit instantly from Klarity's one-of-a-kind platform.
