Klarity is based in San Francisco, CA. The company is a developer of a document processing technology intended to automate the contract review process. Klarity’s technology uses Artificial Intelligence to review sales contracts. Under company legal policy, it then pulls contacts from its emails and databases. Finally, it returns them inspected in a word structure with annotations and red lines along with an overview, helping organizations accelerate sales and higher compliance without thinking of a contract review anymore.
Klarity was funded $18 million, led by Tola Capital with participation from new investors Invus Opportunities and existing individual angel investors Elad Gil, Daniel Gross, Nat Friedman, and Picus Capital. The new capital intended to hire sales, marketing, and engineering. It is also poised to launch new document review automation for deal desk, renewals, and procurement teams in late 2022.
Ondrej Antos and Nischal Nadhamuni launched Klarity. Since establishing its flagship product, Klarity has expanded its enterprise customer that includes some of the world’s most innovative and well-known software companies. As the company has grown, so has customer demand for new features and capabilities. As a result, Klarity will deliver additional capacity to midmarket and enterprise customers with this significant cash infusion.
Document automation is not a new concept. An original wave of companies working on partial document automation still needs a human review, but the entire document automation market is still very nascent.
Klarity replaces humans for tasks that require large-scale document review, including accounting order forms, purchase orders, and agreements. Instead of having many accountants reading thousands of almost identical documents every month to find non-standard language, Klarity does that, helping the accountants save time and avoid mistakes.
Tony Tiscornia, CFO of Coupa said, Klarity came in and quickly helped them cure one of their most challenging headaches with technology that previously existed. As a client, the peace of mind Klarity delivers is extremely valuable. They are proud to accompany this incredible founding team on its continued journey, and they look on with great anticipation to what they have in stock.
By: K. Tagura
Author statement:
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