"The new digital divide is access to data," said Kuang Chen, Captricity CEO. "We are delighted that Knight Foundation also sees the immense potential in making more of the world's data available to the public."
Berkeley, CA (PRWEB) September 24, 2012
Captricity, Inc., a cloud-based service which captures digital data from paper documents, today announced an investment from the Knight Foundation Enterprise Fund, which provides early-stage venture funding for media innovation. The investment brings the total amount Captricity has raised to date to $1.6 million.
“The new digital divide is access to data. We have always envisioned Captricity as playing a key role in democratizing access to public data,” said Kuang Chen, Captricity CEO. “We are delighted that Knight Foundation also sees the immense potential in making more of the world’s data available to the public.”
“We are excited about the team, the prospects for the company and, in particular, the potential to make dramatically more data available to the public, including journalists,” said Ben Wirz, Knight Foundation’s director of business consulting. “We look forward to building awareness of the company’s product and services among Knight’s network of communities, nonprofits and media organizations.”
Knight Foundation is the nation’s leading funder of journalism and media innovation. The foundation has invested more than $100 million in media innovation since 2007, mainly through grants to non-profits. The Knight Enterprise Fund, which was launched in 2010, invests funds from the foundation’s endowment in for-profit start-ups aligned with Knight’s mission of promoting informed and engaged communities.
The Knight Enterprise Fund joins Menlo Ventures, Charles River Ventures, Attractor Ventures, Sky Dayton and other investors as new backers to have invested in 2012. Captricity’s initial investors include Greylock Partners, Social + Capital Partnership, Kapor Capital, and Atlas Ventures.
Captricity is an award-winning cloud-based service that turns paper information into digital data more easily, quickly, and cheaply than existing alternatives. The company was founded in 2011 by Kuang Chen and Jeff J. Lin. For more information, please visit http://captricity.com/press-center.
About Knight Foundation
Knight Foundation supports transformational ideas that promote quality journalism, advance media innovation, engage communities and foster the arts. They believe that democracy thrives when people and communities are informed and engaged. For more, visit http://www.knightfoundation.org.