Oakland-based startup Captricity Inc. that gives customers in regulated industries fast and easy access to customer data trapped in handwritten forms has raised $35 million in Series C funding led by White Mountains Insurance Group, LTD. Existing investors Social Capital and Accomplice also participated in the round. The latest round of funding brings Captricity’s total funds raised to $49 million.
Captricity’s cloud-native data capture platform captures data from any from all points of patient and provider contact, including handwritten charts and intake forms, bills, lab results, faxes, emails, texts, images, web forms with 99%+ accuracy. The results are unprecedented: 99.9%+ accurate, up to 50 times faster turnaround, 100% HIPAA compliant and government-trusted — all at a fraction of the cost of legacy solutions. Healthcare practitioners, administrators and providers rely on Captricity to solve problems from order and authorization processing to patient satisfaction surveys to backlogs.
Founded by Kuang Chen, whose PhD research in Tanzania and Uganda revealed the need to transform paper-based documents into digital data to improve organizations’ efficiency and service to those they serve. Since commercializing its proprietary solution in 2011, Captricity has modernized paper processes for leading organizations such as New York Life, AXA, the Food & Drug Administration (FDA), Federal Election Commission (FEC), inVentiv Health, Xerox Healthcare, Innovations in Poverty Action, and others.
“Captricity transforms hard-to-change paper workflows into digital data streams that create operational efficiencies and enable advanced analytics aimed at improving overall customer engagement,” said Kuang Chen, CEO and Founder of Captricity.”This funding is a vote of confidence towards our mission to democratize customer data access for organizations that serve everyone. We are excited to further enable our highly regulated customers, both commercial and non-profit, to better engage with their customers.”