19 Jan, 2022, 08:00 ET
ST. LOUIS, Jan. 19, 2022 /PRNewswire/ -- Capacity, the AI-powered support automation platform, today announces an additional $27 million in Series C financing, closing out the round at more than $38 million. These funds will be allocated to support new team members, enhance product capabilities and optimize Capacity's robust support automation platform.
To date, Capacity has raised over $62 million. The latest round, which comes on the heels of recognition from the EdTech Breakthrough Awards, FinTech Awards 2021 and KMWorld's AI50, was led by existing investors.
"The future of work is here. Companies are demanding better technology to keep their workforce connected," said David Karandish, CEO and Fou. "I truly believe in the work we're doing at Capacity and this latest round is a testament to that. Support automation is the next big thing in helping businesses do their best work and we are building an AI-powered platform to meet the needs of our customers and their end-users in this modern environment."
In tandem with Capacity's 124% ARR growth year over year, the helpdesk automation market is projected to exceed more than $17 billion by 2024. As businesses continue to invest in the tools and technologies needed to help people do their best work in the modern era, Capacity is well-positioned to empower teams to work productively and cohesively regardless of location. By connecting an entire tech stack to answer questions, automate repetitive tasks, and build solutions to any business challenge, Capacity's AI-powered support automation platform offers unparalleled support for today's disparate workforce.
"Capacity and its platform is part of the next evolution of Mortgage Technology. We are excited to be with them on their journey to reduce friction points in mortgage operations and help drive down costs for our borrowers, while using best in class AI," said Jonathan Freed, Lender Engagement Director of the TMC Emerging Technology Fund. "David Karandish and his team have done a great job so far and we look forward to many more innovations from their group that help us each and every day."
For more information on how Capacity's AI-powered support automation platform helps teams do their best work, visit capacity.com.
Capacity is an AI-powered support automation platform that connects your entire tech stack to answer questions, automate repetitive support tasks, and build solutions to any business challenge. Capacity was founded in 2017 by David Karandish and Chris Sims, and is part of the Equity.com incubator. More information can be found at Capacity's website or on Twitter at @CapacityAI.
Marcus Alexander, CFO
BLASTmedia for Capacity
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