Process automation company Camunda recently closed a $100 million infusion in the recently concluded funding round, reported Venture Beat. The fund will be used to improve its offerings and boost its marketing and sales.
The Series B round was led by Insight Partners and participated by Highland Europe, an investor in the Series A funding, Tech Crunch said. Highland Europe invested $28 million in Camunda back in December 2018. Combined, the automation company raised a total of $126 million.
Insight Partners managing director Matt Gatto remarked, “Camunda’s success demonstrates how an open, standards-based, developer-friendly platform for end-to-end process automation can increase business agility and improve customer experiences.”
Camunda used its previous fund to further offer its process automation solution. With the current infusion, the firm sees a bigger opportunity to further improve and promote its automation software.
Co-founder and CEO Jakob Freund is optimistic about the potential of Camunda’s offerings. Freund said, “There’s a bigger thing going on which you could call end-to-end automation or end-to-end orchestration of endpoints.”
According to him, this end-to-end service “can be RPA bots, for example, but also micro services and manual work [by humans].”
Freund is positive that Camunda covers this need. He said, “Camunda has become this endpoint agnostics orchestration layer that sits on top of everything else.” Given this, its solution offers top to bottom automation, orchestration, control, and monitoring.
Venture Beat noted that the company’s hyperautomation solution addresses enterprises’ need to keep up with current technologies and demand. Implementing Camunda’s workflow automation has the potential to minimize backlogs.
Currently, the company’s clients include Allianz, ING, Intuit, and Vodafone. It seeks to expand its list of clients, as well as continue its product development to provide better solutions to its existing and future clients.
