Klarity Clears the Air With $18 Million Series A

<p><strong><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;strong> &&num;8212&semi; <u>Klarity<&sol;u>&comma; an AI platform that turns documents into structured data and frees humans from painful and voluminous document review&comma; has announced <span class&equals;"xn-money">&dollar;18 million<&sol;span> in Series A funding led by <u>Tola Capital<&sol;u> with participation from new and existing investors&period;<&sol;p>&NewLine;<p>&lbrack;<strong>Photo above<&sol;strong>&colon; Klarity founders Ondrej Antos and Nischal Nadhamuni on Y Combinator Demo Day &lpar;Summer 2018&rpar;&sol;<&sol;p>&NewLine;<p>The company&comma; a Y Combinator alumnus&comma; says it has experienced 5x growth over the past three quarters&period; Klarity plans to use the capital to grow its engineering and Go-To-Market teams to deliver the world&&num;8217&semi;s first fully-automated document processing and management platform for finance and accounting teams for midmarket and enterprise companies&period; <span class&equals;"xn-person">Sheila Gulati<&sol;span>&comma; the Managing Director and Founder of Tola Capital will be joining the board of directors&period;<&sol;p>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>New investors in Klarity include&colon;<&sol;p>&NewLine;<&sol;div>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<ul>&NewLine;<li>Tola Capital<&sol;li>&NewLine;<li>Invus Opportunities<&sol;li>&NewLine;<li><span class&equals;"xn-person">Dave Sipes<&sol;span>&comma; CEO of 8&&num;215&semi;8&semi; <span class&equals;"xn-person">Sam Wilson<&sol;span>&comma; CFO of 8&&num;215&semi;8 and <span class&equals;"xn-person">Germaine Cota<&sol;span>&comma; CAO of 8&&num;215&semi;8 and <u>Klarity customer<&sol;u><&sol;li>&NewLine;<li><span class&equals;"xn-person">Tony Tiscornia<&sol;span>&comma; CFO of Coupa and <u>Klarity customer<&sol;u><&sol;li>&NewLine;<li><span class&equals;"xn-person">Daniel Dines<&sol;span>&comma; founder and CEO of UiPath&comma; <span class&equals;"xn-person">Brandon Deer<&sol;span>&comma; VP of Operations and Strategy of UiPath and <span class&equals;"xn-person">Dylan Reider<&sol;span> of Crew Capital<&sol;li>&NewLine;<li><span class&equals;"xn-person">Douglas Solomon<&sol;span>&comma; former General Counsel&comma; and <span class&equals;"xn-person">Ron Gill<&sol;span>&comma; former CFO&comma; NetSuite<&sol;li>&NewLine;<li><span class&equals;"xn-person">Brad Lightcap<&sol;span>&comma; CFO&semi; <span class&equals;"xn-person">Jeanine Korovesis<&sol;span>&comma; Controller&semi; <span class&equals;"xn-person">Jason Kwon<&sol;span>&comma; General Counsel&comma; OpenAI<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>Existing investors following on&comma; include&colon; <span class&equals;"xn-person">Elad Gil<&sol;span>&comma; <span class&equals;"xn-person">Daniel Gross<&sol;span>&comma; <span class&equals;"xn-person">Nat Friedman<&sol;span> and Picus Capital<&sol;p>&NewLine;<p>Klarity was founded by <span class&equals;"xn-person">Harvard Law<&sol;span> and <span class&equals;"xn-org">MIT<&sol;span> graduates&comma; <span class&equals;"xn-person">Ondrej Antos<&sol;span> and Nischal Nadhamuni&period; Since launching its flagship product&comma; Klarity has grown its enterprise customer base from zero to 39 in a single year – a group that includes some of the most innovative and well-known software companies in the world&period; As the company has grown&comma; so too has customer demand for new features and capabilities&period; With this significant cash infusion&comma; Klarity will deliver further capability to midmarket and enterprise customers&period;<&sol;p>&NewLine;<p>&&num;8220&semi;This funding round represents a huge leap forward for Klarity and its customers&comma; and a resounding vote of confidence for our platform&period; We are thrilled to welcome new investors onboard&comma; and incredibly proud that our existing investors not only participated in this round but grew their investments exponentially&comma;&&num;8221&semi; said <span class&equals;"xn-person">Ondrej Antos<&sol;span>&comma; CEO and co-founder of Klarity&period; &&num;8220&semi;We&&num;8217&semi;re excited to invest heavily in building a unique community for revenue accounting professionals&comma; supporting our existing customers and continuing growing at an exponential pace&comma;&&num;8221&semi; added <span class&equals;"xn-person">Ondrej Antos<&sol;span>&period;<&sol;p>&NewLine;<p>&&num;8220&semi;What distinguishes Klarity from the competition is that our document intelligence platform is by far the most accurate in the world&period; Now&comma; we&&num;8217&semi;ll be able to increase our investment into our Artificial Intelligence platform and further solidify our position as a leader in document intelligence&comma;&&num;8221&semi; said Nischal Nadhamuni&comma; CTO and Co-founder of Klarity&period;<&sol;p>&NewLine;<&sol;div>&NewLine;