Klarity provides automated document review software purpose-built for revenue accounting, using generative AI to analyze structured and unstructured documents. Its platform reduces manual data entry and delivers real-time insights to improve compliance for use cases including order management, ASC 606 revenue recognition, and invoice processing. Klarity positions itself to help enterprises build exponential organizations by freeing teams from repetitive document-centric tasks. The company will use the Series B proceeds to expand engineering, product, and go-to-market teams, grow its customer base, and develop additional automation tools. Klarity is based in San Francisco, CA and emphasizes shifting human work toward more creative efforts. Following this round, the company has raised over $90 million in total funding. Klarity builds an AI-driven document automation tool that turns repetitive finance and accounting documents into structured data, targeting tasks like order forms, purchase orders and agreements. The product, launched in August 2020, aims for full document automation and can replace human review for over 85% of documents in Klarity’s case. The company reported strong growth: ARR grew nine times over the last nine months and over 24 times year over year. Klarity works with more than 40 enterprise and mid-market customers, including Coupa, Optimizely and 8×8, and has grown headcount to 34 employees from 14 a year ago. It is hiring across sales, marketing and engineering and plans to launch new document-review automation use cases for deal desk, renewals and procurement teams in late 2022.

Total raised

$88M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2024