Artificial intelligence firm Capacity raises $11 million, says revenue tripled this year – STLtoday.com

Capacity, a University City startup that bills itself as a help desk powered by artificial intelligence, has raised $11 million in venture capital.

The company has now raised a total of $34 million since it was founded in 2017 by David Karandish and Chris Sims.

Capacity said its revenue has tripled this year as companies accelerate digital transformation projects to help employees who are working from home. Capacity's software features a chatbot that responds to questions from employees and customers, and the company says it handles 84% of queries without human involvement.

"It was a no-brainer to reinvest in Capacity," Nick Smith, founder of Rice Park Capital Management in Minneapolis, says in the company's news release. "And, who doesn't love a bot that can actually get your questions answered or kick off a needed process, not just take you through a decision tree to nowhere."

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Artificial intelligence firm Capacity raises $11 million, says revenue tripled this year - STLtoday.com