Capacity Raises $13.2 Million To Build On Its Cloud-Based AI System

By Dan Anderson ● August 21, 2019
  • Capacity announced it has introduced a secure and AI-native knowledge-sharing platform and that it raised $13.2 million in Series B

Capacity has announced that it has introduced its secure and AI-native knowledge-sharing platform. Essentially Capacity’s AI captures mines, and connects organizational knowledge to maximize employee productivity. And the company also announced it raised $13.2 million in Series B funding from a network of Midwest-based private and angel investors.

“We couldn’t be more excited to launch our AI-powered knowledge sharing platform under the new Capacity brand,” said Capacity co-founder and CEO David Karandish. “We chose the name Capacity because we firmly believe that the more organizations share and leverage their knowledge, the greater capacity their teams will have to do outstanding work.”

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Companies have been continuing to invest billions of dollars into new applications, systems, and databases to create more effective workplace environments. But unfortunately, these systems still aren’t built for the way teams work today and frequently acting as yet another barrier between employees and the knowledge they need to excel in their work. Plus team members are forced to waste costly hours every day searching for information that’s spread across dozens of systems — which reduces their capacity, engagement and overall satisfaction.

Capacity is able to address these challenges by capturing tacit knowledge, mining documents and spreadsheets, and connecting to enterprise apps thus making everything instantly accessible through a single, automated chat platform.

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“In the banking industry, our workforce has to learn more and more, year after year because we continue to add various channels, products and ways our team can access information and conduct a transaction,” said West Community Credit Union president and CEO Jason Peach. “We introduced the Capacity platform to fill that void and ensure that our team has access to the information and knowledge they need.”

Capacity is currently on a mission to help teams do their best work by making all organizational knowledge quick and easy to find, share, and leverage. And the platform also helps organizations work smarter as a whole through its AI-assisted conversational workflows. Plus Capacity adheres to industry-standard security and data compliance protocols such as SOC 2 and GDPR, and currently integrates with more than 50 of today’s most popular workplace applications and platforms.

Capacity’s features include:

1.) Enterprise Search – a collection of connectors that allows companies to integrate with more than 50 popular apps right out of the box, in addition to a Developer Platform to connect Capacity to custom and proprietary applications.

2.) LiveDocs – enables Capacity to instantly mine information from documents, spreadsheets, and websites.

3.) Knowledge Base – enables Capacity to pinpoint and capture the hidden expertise within an organization including who the organization’s experts are.

4.) Conversations – creates a detailed conversational workflow for questions that require complex answers.

5.) CoPilot Console – an intuitive and human-in-the-loop helpdesk interface that reinforces the platform’s machine learning. No integrations or installs required.

“Today’s workplace systems are not designed for how people actually work. Consumer-grade tools like Netflix and Google have shown us that people prefer a personalized experience— but enterprise software hasn’t kept up,” added Karandish. “We built our new product suite with our fellow consumer in mind, so that Capacity feels less like software you have to use, and more like software you want to use.”

Capacity recently rebranded from Jane.ai  to indicate its shift from a virtual assistant chatbot to a comprehensive knowledge-sharing platform.

“Capacity has cracked the code to unlocking employee potential and changing the future of work in the enterprise,” explained Rice Park Capital Management LP founder and managing partner Nicholas Smith. “The company’s traction in the financial services industry is incredibly impressive. The Capacity team is just getting started, and we’re honored to support David and the rest of the team through this next phase of momentum and growth.”

Karandish pointed out that Capacity is taking an “anti-Silicon Valley approach” to fundraising and is prioritizing local and regional investors who share their vision and Midwestern pragmatism versus the most common names on the coasts.

Prior to launching Capacity, Karandish sold his previous company Answers.com to Apax Partners for more than $900 million. Capacity co-founder Chris Sims is also a co-founder of Answers.com and worked at that company as the chief strategy officer.

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