Apromore Receives $15 Million in Series B-1 Round to Accelerate AI-Driven Process Mining
Summary
Extension round doubles valuation, scales growth in the US to further capture market opportunity as demand for process mining and operational intelligence growsMELBOURNE & NEW YORK Aug. 6, 2024 Building on strong customer momentum and market demand, Apromore, a leading provider of AI-driven process mining and digital solutions, today announced it has closed an additional $15 million USD in funding as an extension to its Series B, led by existing investors with participation by Tin Alley Ventures, a joint venture between Tanarra Capital and the University of Melbourne and other investors. Building on Apromores digital twin capabilities and its no-code user experience, the company will continue to extend the platforms capabilities with an AI-enabled optimization engine to recommend opportunities to simplify, automate, and standardize activities and workflows, and to provide conversational interfaces for efficient discovery, analysis, and simulation of end-to-end processes.Apromore CEO and Co-founder Marcello La Rosa said: Process mining has emerged as a critical solution for businesses seeking to enhance operational efficiency, enable better customer experience and accelerate digital transformation. We appreciate the confidence and validation from our investors and look forward to collaborating with new investors to help redefine business transformation through process data.Among others, this round of funding adds Param Kahlon, EVP and GM of Automation and Integration at Salesforce, as observer to Apromores board of directors.The lack of as-is process visibility and the inability to model and test changes or automation prior to implementation can compromise promising digital transformation initiatives, jeopardize customer experience and impact on compliance. Our mission is to democratize process mining by making it possible for business teams to rapidly use advanced data science techniques to achieve digital transparency and operational excellence, in a completely no-code environment. Built on award-winning technology, the Apromore platform transforms how teams make decisions and their ability to unlock value in transactional data by revealing inefficiencies, friction points, and compliance violations in their processes.