Signavio raises $177M at a $400M valuation for its business process automation solutions
Summary
Robotic Process Automation has been the name of the game in enterprise software lately — with organizations using advances in machine learning algorithms and other kinds of AI alongside big-data analytics to speed up everything from performing mundane tasks to more complex business decisions. To underscore the opportunity and growth in the market, today a startup in the wider segment of process automation is announcing a significant fundraise. It says that revenues in the last 12 months have grown by more than 70%, and its software is used by more than one million users across 1,300 customers — with clients including SAP, DHL, Liberty Mutual, Deloitte, Comcast and Puma. “10 years ago, we set out on a journey to tackle the time-consuming practices that limit business productivity,” said Dr. Gero Decker, CEO and co-founder of Signavio, in a statement. While BPM has been around for years as a concept — and indeed there are a number of other companies that provide tools that are compared sometimes to Signavio’s, such as from biggies like IBM and Microsoft through to Kissflow and others — what’s interesting is how it’s had a surge of interest more recently as organizations increasingly start to add more automation into their IT infrastructure, in part to reduce the human labor needed for more mundane back-office tasks, and in part to reduce costs and speed up processes.
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