In 2009, Kuang Chen, Founder and CEO, got the idea for Captricity while conducting his PhD research in Tanzania. At the time, Kuang was helping the UN implement electronic records to track health programs in East Africa. With no fast, reliable way to process handwritten medical forms, UN workers couldn’t access the valuable patient data that could help save lives.
In 2011, Captricity was born and is created to help organizations that serve everyone to maintain existing, efficient workflows and get access to the data they need.
Captricity partners with organizations to extract data from paper (like applications, surveys or health registers, for example) and transform it into digital information that can be easily uploaded to a database or backend system-all without changing current paper-based workflows or requiring users to learn new technology. Captricity is fast in delivering results, secure and 99%+ accurate—even on handwritten forms—giving organizations faster access to the data they need to serve their mission in a more informed way. Captricity’s enterprise customers include federal government agencies such as FDA and FEC, along with over 50% of largest insurance companies in the U.S. – New York Life, MetLife, MassMutual, AXA and more.
Hybrid Machine Learning Technology and Crowd-Sourced Workforce
Existing solutions to extract data from paper are relatively few and far between with software solutions that are mostly outdated and very expensive to use since they charge by user license. Captricity charges by digitization volume, which is more cost effective and leaves manual data entry as the primary solution used. Manual data entry – aside from being difficult to scale and creating security challenges – has an average accuracy rate between 85-95%, which even at the high-end of the spectrum requires duplicate efforts to ensure high data quality, leading to slow turnaround times and expensive HR / Ops costs. Captricity’s technology uses a unique hybrid machine learning technology and a global crowd-sourced workforce delivering 99.9%+ accuracy.
A reliable, innovative technology built by some of the smartest engineers and data scientists, is the reason that good customers willingly tested ahead of the curve with a startup company and great people who work hard every day to ensure Captricity delivers on their promise. Their platform is always learning, as their solutions have actually become more efficient and accurate as they process more volumes of data. This gives all of their customers assurance & confidence that they can not only improve on their existing processes, but also to become more efficient over time.
“Excellent data quality is key to a best-in-class customer experience, which makes Captricity’s technology, especially attractive as we look for easily scalable, innovative solutions in this area.”
– Corporate VP of Systems at New York Life.
Captricity allows us to upload scans of reports received via mail, fax or .pdf and get back structured, machine-readable data that is remarkably accurate, even for free-form handwriting.
– Taha A. Kass-Hout, M.D., M.S., CHIO, U.S. Government (FDA)
Unlocking Data for the World
Capticity aims to unlock the data that drives the world forward. It has only begun to scratch the surface of their potential application in three domestic industries: insurance, healthcare and government. After more than tripling in revenues year-over-year for the past 3 years straight, and on pace to quadruple this year, they are expand-ing their team and resources to cast a wider net internationally.