Software-as-a-Service firm Captricity announced this week that it had raised $10 million Series B round of financing. According to a company release, this round of funding included Atlas Venture and Social+Capital.
Chris Lynch, who is a partner at Atlas, will join Captricity’s board.
“One of the challenges with big data is that it’s often restricted to new data or data that is already digital,” Lynch said. “Captricity enables businesses to bring their legacy documents and workflows into the world of big data analytics without having to make wholesale changes to their business processes. Captricity provides a solution to a very large problem. They are ready to scale, and this is the year they will really take off.”
In total, Captricity has $14 million in funding, including original investments from Social+Capital, Atlas Venture, The Knight Foundation and angel investors such as Dave Goldberg, Reid Hoffmann and Mitch Kapor.
Additionally, Captricity announced that it formed a partnership with New York LifeDirect, a division of New York Life. The company explained that the goal is to help New York LifeDirect better respond to customers by digitizing on-demand more than 500,000 of the paper-based business leads that it receives each year.
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