Klarity, a San Francisco, CA-based AI automation platform, raised $70 million in Series B funding, bringing its total funding to over $90 million.
Investors
The round was led by Nat Friedman and Daniel Gross, with participation from Scale Venture Partners, Tola Capital, Picus Capital, Invus Capital, and Y Combinator.
Klarity Use of Funds
The company will use the funds to expand its teams in engineering, product, and go-to-market functions to grow its customer base and develop additional automation tools.
About Klarity
Klarity provides an automated document review software purpose-built for revenue accounting. The company uses generative AI to automate document analysis, reducing the need for manual data entry. The platform processes structured and unstructured documents, offering real-time insights and improved compliance. Klarity enables enterprises to build exponential organizations. Its key use cases include Order Management, Revenue Recognition ASC 606 compliance, or Invoice Processing. Its mission is to free humanity from repetitive document-centric tasks and focus their creative efforts on building exponential organizations.
Funding Details
Company: Klarity Intelligence Inc.
Raised: $70.0M
Round: Series B
Funding Month: June 2024
Lead Investors: Nat Friedman, Daniel Gross
Additional Investors: Scale Venture Partners, Tola Capital, Picus Capital, Invus Capital, Y Combinator
Company Website: https://www.klarity.ai/
Software Category: Automated Document Review
Source: https://www.klarity.ai/post/klarity-raises-70-million-in-series-b