OAKLAND, Calif., Jan. 12, 2017 /PRNewswire/ -- This week CB Insights selected Captricity, the leading Data-as-a-Service (DaaS) provider that transforms handwritten paper forms into digital data, to the prestigious Artificial Intelligence 100 list ("AI 100"), a select group of emerging private companies working on groundbreaking artificial intelligence technology. CB Insights CEO and co-founder, Anand Sanwal, revealed the winners during The Innovation Summit, a gathering of top executives and investors to explore the industries of the future.
Captricity's crowd-guided deep learning software helps companies in regulated industries and nonprofit organizations extract structured data from any source and connect seamlessly to backend systems to enable advanced analytics and eliminate the need for costly manual data-entry processes. With its roots in social good, the company services over 50 NGOs with the same technology solutions it provides to 10 of the top 20 U.S. life insurers and government agencies like the FEC. Captricity offers nonprofit organizations around the world fast access to the accurate data they need to serve their mission and improve lives, and the company is leading the way in helping regulated industries take advantage of modern data access capabilities while not requiring a disruptive transformation of legacy processes and/or IT investments.
"At Captricity, we're on a mission to democratize data access, and it's exciting to see how our proprietary technology is able to dramatically improve operational efficiency and transform the user experience for our global client base," said Kuang Chen, founder and CEO of Captricity. "To be recognized by CB Insights on this list validates our efforts to solve big challenges and bring AI to large regulated industries and nonprofits alike."
Companies such as Affectiva, Blue River Technology, Deep Instinct, Sentient Technologies and Orbital Insight joined Captricity in being recognized for their amazing teams, technology, and traction in front of an audience of 400 senior executives from around the world.
The CB Insights research team selected the AI 100 winners based on a combination of data submitted by the companies, responses to interview questions and the company's Mosaic Score. Mosaic is an algorithm built with funding from the National Science Foundation that gives predictive intelligence into the health of private companies.
"From financial services to healthcare to transport, incumbent companies in every industry are seeing that AI will reshape their industries. And as so often happens, transformational innovation comes from emerging companies," said Anand Sanwal, CEO of CB Insights. "In the case of AI, a lot of the groundbreaking work is being done by the AI 100. The companies in the AI 100 are accelerating research, improving efficiency, and making many game-changing advancements that will be felt for decades to come."
Quick facts on the AI 100:
- In total, these 100 emerging private companies have raised $3.8B across 263 deals since 2012, according to CB Insights.
- Applications of their technology include breakthroughs in healthcare, drug discovery, business intelligence, gaming, manufacturing, and much more.
- More than 1,650 companies were nominated or applied for the AI 100 (only 6% were selected).
- Data Collective has backed 14 of the AI 100 companies, while NEA backed 8 and Bloomberg Beta backed 7.
- There have been 9 mega-rounds (funding rounds of $100M or more) to AI 100 companies since 2014.
- Five AI 100 companies have reached a valuation of $1B or more (also known as unicorn status).
- 11 countries are represented among the winners.
Captricity's crowd-guided deep learning software can extract structured data from any source – handwritten forms, web forms, scanned document images, faxes, emails, and call centers – and connect seamlessly to backend systems to enable advanced analytics and eliminate the need for costly manual data entry processes. Captricity helps insurance, healthcare, government and nonprofit organizations to leverage the power of cutting-edge machine learning technology to produce 99.9%+ accurate data quality while delivering cost savings of up to 50% and reducing turnaround times by more than half. Ten of the top Twenty U.S. life insurers depend on Captricity's robotics process automation to deliver business insights that ultimately lead to a better customer experience. Captricity is headquartered in Oakland, CA.
Director of Communications, Captricity, Inc.
About CB Insights
Our team comes to work every day to build technology that helps corporations guess less and win more. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry.
With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more. Our software algorithmically analyzes this data to help our clients see where the world is going tomorrow, today.
*We have MBAs.
Emily Veach, Communications Manager
+1 212-292-3148, ext. 1007
About The Innovation Summit
From voice and chat interfaces to AI replacing investment managers and doctors to the new revenue models enabled by the Industrial Internet of Things, the Innovation Summit marries CB Insights' emerging trend research with the thinking of the world's smartest minds - leading VCs, economists, researchers and corporate strategists.
For more information about the AI 100, visit:
To learn more about CB Insights' Innovation Summit, go here: http://events.cbinsights.com/corp-innovation-2017
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/captricity-selected-to-the-cb-insights-2017-ai-100-300390001.html