Captricity, a US-based digitised data cloud platform, has raised $35m in its series C round led by White Mountains Insurance Group, a New York-listed insurer.
Teresa Chia, senior vice-president at White Mountains Capital, will join Captricity’s board.
Existing investors, venture capital firms Social Capital and Accomplice, also participated in the round. The latest round of funding brings Captricity’s total funds raised to $49m including from angel investors include Dave Goldberg, Reid Hoffmann and Mitch Kapor and the Knight Foundation.
The company’s series B round closed at $10m in July 2014. In June 2013, Captricity raised $2.4m in its series A round led by Social+Capital Partnership, an investment fund founded by former Facebook senior executive Chamath Palihapitiya.
Other investors in the A round included venture capital firm Atlas Ventures and Knight Enterprise Fund, a provider of early-stage venture funding for media innovation. The A round brings total company funds raised to $4m, which also includes original investments from Social+Capital, Atlas and Knight.
Captricity was founded by Kuang Chen, whose PhD research in Tanzania and Uganda revealed the need to transform paper-based documents into digital data to improve organisations’ efficiency and service to those they serve.
Since commercialising its proprietary solution in 2011, Captricity has modernised paper processes for New York Life, AXA, the Food & Drug Administration (FDA), Federal Election Commission (FEC), InVentiv Health, Xerox Healthcare, Innovations for Poverty Action and others.