Capacity, the St. Louis-based artificial intelligence software startup led by Olin alum and former Answers CEO David Karandish, plans to grow its team and expand its technology after closing its Series C financing.
The company announced an additional $27 million in Series C financing on January 19, closing out the round at more than $38 million.
To date, Capacity has raised more than $62 million, according to a press release from the company. The latest round, which comes on the heels of recognition from the EdTech Breakthrough Awards, FinTech Awards 2021 and KMWorld’s AI50, was led by existing investors.
“The future of work is here,” said Karandish, a serial entrepreneur who received his BSCS from WashU in 2005 with a second major in entrepreneurship at Olin. “Companies are demanding better technology to keep their workforce connected.”
He said support automation “is the next big thing in helping businesses do their best work.”
The helpdesk automation market is projected to exceed more than $17 billion by 2024.
“Capacity is well-positioned to empower teams to work productively and cohesively regardless of location,” according to the release. Capacity is an AI-powered support automation platform that connects a business’ entire tech stack to answer questions, automate repetitive support tasks and build solutions to business challenges.
Karandish and Chris Sims founded Capacity in 2017, and it is part of the Equity.com incubator.
To learn more about Karandish’s experience as an entrepreneur, listen to this episode of Olin’s podcast, On Principle.
Top photo: David Karandish in 2018.