AI-Powered Support Automation Platform Acquires Lucy, Envision and Linc, and Announces $26 Million Series D Funding Round
ST. LOUIS, Oct. 16, 2024 -- Capacity, an AI-powered support automation platform, is proud to announce transformational growth as it continues to help brands automate interactions with customers and team members. Capacity has acquired Lucy, Envision and Linc, bringing the company's total number of acquisitions to eight in less than two years. It has also announced a more than $26 million Series D funding round and expansion of its leadership team.
Capacity helps more than 2,500 companies build stronger customer relationships with an AI-powered platform that improves self-service and boosts agent productivity.
"We're at an inflection point for AI and many businesses are realizing that they need a complete platform to be successful, rather than cobbled together point solutions," said David Karandish, CEO, Capacity. "We continue to execute on a compound startup strategy which reflects what our customers are asking for: an all-in-one AI platform that delivers across all communication channels."
Each recent acquisition adds specific tech and talent to help Capacity become a leading provider of AI-powered solutions for customer and employee experience.
Lucy: Enhancing Enterprise Search and Knowledge Management
Lucy®, based out of Minneapolis, Minn., is an AI-powered Answer Engine® that addresses the persistent challenge of navigating vast amounts of information within an organization's data ecosystem.
"Employee time is precious and too many hours are spent searching. We share Capacity's mission to free up people to do their best work and our combined technology will allow us to further break down knowledge silos," said Dan Mallin, Co-Founder and CEO of Lucy.
Mallin, along with Co-Founders Scott Litman and Marc Dispensa, will remain with Capacity following the acquisition to help lead the integration of products and teams.
"Lucy has built an incredible platform that delivers critical technology to help internal teams make the most of their data. We are excited to bring the Lucy's Answer Engine® to our customers while offering Lucy's users even more capabilities to increase efficiency and improve the employee experience," said Karandish.
Envision: Improving Agent Engagement for Customer Experience Success
Envision, based in Seattle, Wash., is at the forefront of customer and agent experience enhancement, using AI and automation to analyze 100% of Contact Center interactions and deliver advanced coaching for Contact Center agents.
"Customer and agent experience is more important than ever for Contact Centers. Leading brands can't risk a poor customer experience through automation or agent customer interactions, which makes AI and agent coaching a critical capability," said Rodney Kuhn, founder, Envision. "Integrating Envision's products with Capacity's robust platform will enable users to deliver optimal customer experiences whether fully automated or delivered through a human agent."
Kuhn will oversee Contact Center solutions at Capacity following the acquisition.
"Envision's innovative and industry-leading solutions, like Click2Coach®, are great examples of how AI is improving the workplace. Whether it's flagging an outstanding call, or alerting an agent or supervisor that more coaching is required, our AI delivers solutions not previously available to Contact Centers," said Karandish.
Linc: Evolving Chat to Boost Efficiency and Improve Experiences
Linc, based in Santa Clara, Calif., combines best-in-class AI with vertically specialized ontology, workflows and integrations to help retail and e-commerce brands take CX automation to the next level. Linc-powered CX boosts support efficiency, improves sales conversations and drives brand loyalty.
"Today's retail and e-commerce customers expect great experiences across channels. Together with Capacity, we can create customer experiences that seamlessly transition from chat to phone and voice, and provide agents with the capabilities to be successful in those interactions," said Fang Cheng, founder and CEO, Linc.
Cheng will remain with Capacity to lead expansion into the retail and e-commerce sectors.
"As retail and e-commerce brands rapidly adopt AI for CX, Linc recognizes the unique complexity of the industry and consistently delivers a trusted and market-leading solution. Together with Linc, we see a future where Capacity can help organizations make self-service channels revenue drivers," said Karandish.
Capacity Announces $26 Million Series D Funding Round
Capacity has raised more than $26 million in a Series D round of funding. The company intends to use the proceeds to continue growth and product innovation as it pursues a compound startup strategy.
"We originally planned to raise a small $5 million bridge round to get to break even, but we were oversubscribed early and have increased the round to more than $26 million, with the option to raise additional funds," said Karandish.
Capacity has raised more than $89 million to date across multiple funding rounds. The Series D round of funding included investments from TVC Capital and Toloka.vc., among others.
Capacity Expands Leadership Team to Support Transformational Growth
As Capacity rapidly grows, the leadership team has expanded to support the team's continued success. Staff moves include:
- Karaline Venezia has been hired as Chief Revenue Officer. Venezia is returning to Capacity after being with the company from 2019-2022. Most recently she served as Chief Commercial Officer at Xtendops.
- Tim Yeadon has moved into the role of Chief Operating Officer ensuring the seamless integration of new companies. Yeadon previously served as Chief Revenue Officer.
Venezia and Yeadon serve alongside more than 180 Capacity team members around the world.
In addition to strong organic growth, Capacity has marked significant growth from acquisitions. Lucy, Envision, and Linc join Textel, LumenVox, Denim Social, SmartAction, and Cereproc on the roster of recently acquired companies who support Capacity's rapid expansion of capabilities and scale to support customer and employee experience for Contact Centers and a wide range of businesses.
"We expect to have technology from all of these acquisitions fully integrated into the Capacity platform in 2025," said Tim Yeadon, Chief Operating Officer, Capacity.
The terms of the Lucy, Envision and Linc transactions are confidential.
Capacity is led by David Karandish, who co-founded the company and has served as the CEO since inception.
For more information on how Capacity's AI-powered support automation platform helps teams do their best work, visit Capacity.com.
About Capacity
Founded in 2017, Capacity is a support automation platform that uses practical and generative AI to deflect tickets, emails, and phone calls—so your team can do their best work. Capacity offers solutions for self-service, agent assist, and campaigns & workflows to over 2,500 companies to help automate their support. Today, Capacity offers support over web, SMS, email, voice, social, Slack, MS Teams, helpdesks, and more, powered by technology and talent from Cereproc, Denim Social, Envision, Linc, Lucy, LumenVox, SmartAction and Textel. To learn more about Capacity, visit Capacity.com.
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