ST. LOUIS, Aug. 21, 2019 /PRNewswire/ -- Today, Capacity officially introduced its secure, AI-native knowledge sharing platform. Designed to meet the expectations of today's workforce, Capacity is a cloud-based system built on AI that captures, mines and connects organizational knowledge to maximize employee productivity. The company also announced that it raised $13.2 million in Series B funding from a Midwest network of private and angel investors to help support company growth and scale its technology.
"We couldn't be more excited to launch our AI-powered knowledge sharing platform under the new Capacity brand," said David Karandish, CoFounder and CEO of Capacity. "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."
Companies continue to invest billions of dollars into new applications, systems and databases to create more effective workplace environments. Unfortunately, these systems still aren't built for the way teams work today, frequently acting as yet another barrier between employees and the knowledge they need to excel in their work. 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 addresses these challenges by capturing tacit knowledge, mining documents and spreadsheets and connecting to enterprise apps— making everything instantly accessible through a single, automated chat platform.
"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 Jason Peach, President and CEO at West Community Credit Union. "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 on a mission to help teams do their best work, by making all organizational knowledge quick and easy to find, share and leverage. The platform also helps organizations work smarter as a whole through its AI-assisted conversational workflows. 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:
- Enterprise Search is a collection of connectors that allows companies to integrate with over 50 popular apps right out of the box, in addition to a Developer Platform to connect Capacity to custom and proprietary applications.
- LiveDocs enables Capacity to instantly mine information from documents, spreadsheets and webpages.
- Knowledge Base enables Capacity to pinpoint and capture the oftentimes hidden expertise within an organization— including who the organization's experts are.
- Conversations creates a detailed conversational workflow for questions that require complex answers.
- CoPilot Console features an intuitive, 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," said 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."
New Financing, Raised From Local Midwest Community
With its launch, the company officially rebranded from Jane.ai to Capacity to support its growth and expansion from a virtual assistant chatbot to a comprehensive knowledge sharing platform. In addition, Capacity has also raised $13.2 million in an oversubscribed Series B Funding round from a Midwest network of private and angel investors, including existing investors.
"Capacity has cracked the code to unlocking employee potential and changing the future of work in the enterprise," said investor Nick Smith, founder and managing partner of Rice Park Capital Management LP. "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."
"We took a decidedly anti-Silicon Valley approach to our fundraising, prioritizing local and regional investors who share our vision and Midwestern pragmatism versus the most common names on the coasts," said Karandish. "Our investors believe in our mission and are as passionate as we are about bringing the future of work to the here and now." Capacity's investors are in good hands— Karandish sold his previous company, Answers, for north of $900M.
Capacity is seeing strong momentum with a rapidly growing customer base across several verticals, particularly financial services, HR, healthcare and education. Customers include: One of the top five banks in both the U.S. and Australia, Newell Brands, USA Mortgage, West Community Credit Union, Total Access Urgent Care, Maryville University, Framecad and EXL. To learn more about Capacity or to request a demo, visit Capacity.com.
Capacity is a secure, AI-native knowledge sharing platform that empowers teams with instant access to the knowledge they need to do their best work. Capacity connects to enterprise apps, mines company documents and spreadsheets, and captures the tacit knowledge of an organization— making everything instantly accessible through a single platform. Capacity was founded in 2017 by David Karandish and Chris Sims, and is part of the Equity.com incubator.