Artificial intelligence-powered support automation platform startup Capacity disclosed today that it has raised an additional $27 million in new funding to improve its support automation platform.

The additional funding was an extension of a Series C round previously announced in October 2020 that Rice Park Capital Management led. The new investor is Capacity founder and Chief Executive David Karandish.  Karandish is best known as being the CEO of Answers.com when it was sold for $900 million in 2014.

Including the round, Capacity has raised $62 million to date, including a round of $13.2 million in 2019.

Founded in 2017 and previously known as Jane.ai, Capacity offers an AI-powered help desk that automates support for customers and employees. The company’s platform connects apps, mines documents, spreadsheets and web pages, and captures an organization’s tacit knowledge, making it all instantly accessible via chat.

Connecting an entire tech stack to answer questions, automate repetitive support tasks and build solutions to any business challenge, Capacity pitches itself has a “new kind of help desk.”

Benefits of the Capacity platform include reducing the time and money spent answering questions with support automation that enables easy escalation of support. The service gives employees instant access to centralized knowledge, so support teams can focus on strategic goals and tasks that require higher-level thinking.

Capacity also claims that its service improves customer satisfaction by giving customers instant access to frequently asked questions.

Under the hood, the company’s platform uses AI, machine learning and state-of-the-art algorithms to power natural language processing.

Capacity has an increasing customer base with 124% annual recurring revenue growth year over year, off an undisclosed base. With the help desk automation market projected to exceed more than $17 billion by 2024, the company believes it’s well-positioned to empower teams to work productively regardless of location.

“Companies are demanding better technology to keep their workforce connected,” Karandish said in a statement. “Support automation is the next big thing in helping businesses do their best work and we are building an AI-powered platform to meet the needs of our customers and their end-users in this modern environment.”

Image: Capacity