Total amount raised
$90.4 Millions
Latest funding date
6/1/2024
Location
Klarity has successfully raised funding through multiple rounds, with its latest being a Series B on June 24, 2024. The company offers AI-powered solutions to automate document processes, ensuring accuracy, efficiency, and compliance in business operations.
Keep reading to explore the intricacies of Klarity's fundraising journey and the investors backing this innovative platform.
What Is Klarity?
Klarity, founded on June 5, 2017, is based in San Francisco, California. The company was established by Andrew Antoš and Nischal Nadhamuni.
Specializing in AI-powered document automation, Klarity enhances business operations by ensuring accuracy, efficiency, and compliance. Their platform simplifies complex processes like ASC 606 revenue accounting and order management.
With a team of 101-250 employees, Klarity continues to innovate in the field of document processing, helping businesses streamline their workflows and achieve exponential growth.
How Much Funding Has Klarity Raised?
- Pre-Seed Round
- Amount Raised: $455K
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI-powered document automation platform.
- Seed Round
- Amount Raised: $120K
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refine their product and expand their initial customer base.
- Seed Round
- Amount Raised: $1.8M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their AI capabilities.
- Series A
- Amount Raised: $18M
- Date: January 2022
- Lead Investors: Tola Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series B
- Amount Raised: $70M
- Date: June 2024
- Lead Investors: NFDG Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire new talent and grow their customer base across all enterprise sectors.
Total Amount Raised: $90.375M. Current Valuation: Not publicly disclosed.
Key Investors
- Nat Friedman
- Details: Nat Friedman is a prominent tech entrepreneur and investor, known for his role as the former CEO of GitHub. He has a strong background in software development and open-source projects.
- Investment Focus Areas: Software development, open-source projects, AI.
- Notable Investments: GitHub, Xamarin, Klarity.
- NFDG Ventures
- Details: NFDG Ventures is a venture capital firm that led Klarity's Series B funding round. Daniel Gross from NFDG Ventures joined Klarity's Board of Directors.
- Investment Focus Areas: AI automation, enterprise software, technology startups.
- Notable Investments: Klarity, other investments not publicly disclosed.
- Tola Capital
- Details: Tola Capital is a venture capital firm that focuses on investing in enterprise software companies. They participated in Klarity's Series A and Series B funding rounds.
- Investment Focus Areas: Enterprise software, AI, cloud computing.
- Notable Investments: Klarity, DataRobot, InfluxData.
- Y Combinator
- Details: Y Combinator is a well-known startup accelerator that has funded over 2,000 startups. They have a strong track record of nurturing early-stage companies.
- Investment Focus Areas: Technology startups, software, AI.
- Notable Investments: Airbnb, Dropbox, Klarity.
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. Rory O’Driscoll from Scale Venture Partners joined Klarity's Board of Directors.
- Investment Focus Areas: SaaS, cloud infrastructure, AI.
- Notable Investments: Box, DocuSign, Klarity.
What's Next for Klarity?
With the recent $70 million Series B funding, Klarity is poised to capitalize on the growing demand for AI-driven document automation. The company aims to expand its customer base across various enterprise sectors, leveraging AI to streamline document-centric tasks. This opportunity is vast, with the offshore document processing industry valued at over $300 billion, positioning Klarity to potentially scale to a $100 billion+ company.
Future fundraising seems likely as Klarity continues to demonstrate growth and success. However, the company will face challenges such as competition from other AI platforms and ensuring the accuracy and reliability of its automated solutions. Navigating these hurdles will be crucial for maintaining customer trust and achieving long-term success.
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