Print-to-digital data capture platform Captricity has raised $35 Million in Series C funding led by White Mountain Insurance Group.
Existing investors Social Capital and Accomplice also participated in the round, which brings Captricity's total funding to $49 million.
Based in Oakland, California, Captricity makes a cloud-native "data-as-a-service" platform that aims to digitize paper documents and then mine them for data. The system uses deep learning and machine intelligence to decipher hand-written documents that still dominate in certain business sectors.
Captricity's pitch is that it can eliminate inefficient manual data entry, as the startup claims its approach delivers greater than 99.9 percent accuracy.
Captricity initially geared its platform toward insurance, and currently claims to have eight out of the 10 largest insurance carriers as customers. The startup has since broadened its focus to government and says both FDA and the FEC are using the platform.