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About Klarity
Industries
Consulting
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Series B
Total Funding
$90.4M
Headquarters
Cambridge, Massachusetts
Founded
2017
Overview
Klarity provides a fully automated back-office solution designed for large enterprises. Their system streamlines various administrative tasks, allowing companies like DoorDash, Cloudflare, and CrowdStrike to process operations more efficiently. Klarity's technology ensures that tasks are completed quickly and with high accuracy, which helps reduce operational expenses. Unlike many competitors, Klarity focuses on complete automation, minimizing the need for manual intervention and enabling businesses to achieve faster turnaround times. The goal of Klarity is to enhance operational efficiency for enterprises by automating back-office functions.
Simplify's Take
What believers are saying
- Raised $70M in Series B to expand its 130-person staff significantly.
- Growing demand for AI-driven solutions in accounting due to complex regulations.
- Partnerships with major enterprise software providers enhance document processing capabilities.
What critics are saying
- Increased competition in AI-driven document review could threaten Klarity's market position.
- Challenges in differentiating from other AI solutions in the accounting sector.
- Potential talent gap due to declining accounting graduates may affect expansion plans.
What makes Klarity unique
- Klarity uses AI to automate ASC 606 and IFRS 15 contract reviews.
- The platform integrates with Salesforce and Netsuite for centralized document management.
- Founded by experts from Harvard and MIT, Klarity combines legal and technical expertise.
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Funding
Total Funding
$90.4M
Above
Industry Average
Funded Over
3 Rounds
Y CombinatorIndustry standards
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -1%2 year growth
↑ 6%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
Consulting
Enterprise Software
AI & Machine Learning
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