ST. LOUIS — The University City-based tech firm Capacity, which uses artificial intelligence to help businesses automate tasks, has made two new acquisitions in a bid to advance its technology.
Capacity, originally known as Jane.ai, was founded in 2017. Today its software fields questions from companies’ employees and customers over email, text, on websites and in Slack channels. David Karandish, founder and CEO of Capacity, said each month the software has 140,000 interactions that would have otherwise turned into an email or a job ticket.
Including the two announced Wednesday, the company has made three acquisitions in the past year. Capacity now has around 130 employees and contractors, Karandish said.
“We are in full-on, scale mode,” Karandish said.
Earlier this year, Capacity announced that it was acquiring Textel, a cloud-based texting platform. On Wednesday the company said it has acquired St. Louis-based Denim Social, which makes software for the financial services industry, and San Diego-based LumenVox, which specializes in speech recognition and voice authentication technology.
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In addition to those deals, the recent advancements in generative AI have also helped Capacity’s tech progress even further, Karandish said.
For instance, three years ago, the company had to anticipate the different ways people might ask the software questions, and add all the different variants into a database. Now, the AI does that.
Still, Karandish said, it’s early days for artificial intelligence.
“We’re in the fifth or sixth pitch of the bottom of the first inning, in terms of where this is all headed,” he said.