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Overview
Klarity provides an AI-powered platform that automates accounting and compliance tasks in document-heavy workflows for large organizations. Klarity Automate processes various document formats to extract data, validate it, and automate finance and compliance workflows, speeding closes and reducing audit risk including ASC 606. Klarity Architect creates AI-captured screenshots and visual process maps to document workflows, combining automated execution with transparent process documentation. It targets enterprises and high-growth companies on a B2B SaaS subscription model and serves customers like DoorDash, CrowdStrike, and Zoom, aiming to reduce costs and improve data quality.
About Klarity
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$90.4M
Headquarters
Cambridge, Massachusetts
Founded
2017
Simplify's Take
What believers are saying
- $70M Series B in June 2024 funds 3x staff growth to 390.
- DoorDash and CrowdStrike achieve 85%+ document pass-through rates.
- ASC 606 probable collectibility threshold boosts Klarity's ML precision.
What critics are saying
- Klarity.health diverts 20-30% organic traffic from accounting searches.
- Salesforce Einstein Copilot steals clients via native CRM in 6-12 months.
- OpenAI GPT-5 obsoletes Klarity models for in-house use in 12-24 months.
What makes Klarity unique
- Klarity uses ML to review contracts for ASC 606/IFRS 15 revenue clauses.
- Klarity centralizes MSA, Order Forms, RevRec schedules, and Invoices.
- Klarity Architect creates AI-screenshot process documentation for finance.
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Funding
Total Funding
$90.4M
Above
Industry Average
Funded Over
5 Rounds
Y CombinatorIndustry standards
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 3%2 year growth
↑ 1%Artificial intelligence (AI) is poised to change the accounting industry, according to a new report from venture capital firm Andreessen Horowitz. As large language models (LLMs) continue to advance, AI is becoming a crucial component in various sectors, with accounting firms particularly eager to harness its potential to enhance efficiency and manage increasing workloads. The integration of AI in accounting is not surprising. Bookkeeping, tax preparation, and auditing involve repetitive tasks that can benefit from AI. The accounting profession faces a dual challenge: an aging workforce and a decline in new entrants. The report states, “75% of CPAs could retire in the next 10 years.” Additionally, the decreasing number of students completing accounting degrees in the U.S
Klarity Intelligence raises $70M to automate the document review process - SiliconANGLE
Read through enough contracts, invoices or purchase orders—any business documents, really—enough times, and your eyes probably glaze over. Ondrej Antos experienced it as a law clerk nearly a decade ago.When Antos met Nischal Nadhamuni at the Massachusetts Institute of Technology in 2016, the ...
Accounting startup Klarity raised a $70 million Series B led by Nat Friedman and Daniel Gross, with participation from Scale Venture Partners, Tola Capital, Picus Capital, Invus Capital, and Y Combinator, according to The Information. The San Francisco-based company uses AI to process data in contracts and internal records. The new funds will help expand its 130-person staff, aiming to triple this year. Other notable fundraises in the accounting tech sector include Ageras ($88 million) and FloQast ($100 million).
Klaritylaw integrate with core systems like Salesforce and Netsuite to pull all relevant documents into one central repository.
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About Klarity
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$90.4M
Headquarters
Cambridge, Massachusetts
Founded
2017
There are no jobs for Klarity right now.
Find jobs on Simplify and start your career today