Follow the Money June 2021: 50 Funded Machine Learning Companies

Follow the Money June 2021: 50 Funded Machine Learning Companies

June 2021 latest funding covering artificial intelligence, machine learning, robotics, and innovation.

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Tonkean raises $50M to expand its workflow automation platform

Tonkean, a software startup developing a no-code workflow automation platform, today announced that it nabbed $50 million in a series B round led by Accel with participation from Lightspeed Ventures and Foundation Capital. CEO Sagi Eliyahu says that the proceeds will be put toward scaling up the company’s hiring efforts across engineering and go-to-market teams.

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RPA platform ElectroNeek raises $20M

Electroneek

ElectroNeek, a robotic process automation (RPA) platform for managed service providers and IT teams, today announced that it raised $20 million in a series A funding round led by Baring Vostok. San Francisco, California-based ElectroNeek, which is now valued at $100 million, says it’ll put the proceeds toward product development and the expansion of its engineering workforce.

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Blue Prism 7 shifts focus from RPA to programmable digital workers

Blueprism

Blue Prism, a pioneer provider of automation tools, announced a major overhaul last week as part of Blue Prism Version 7, which supports a new digital worker architecture and deeper cloud integration. This move highlights the company’s transition beyond robotic process automation (RPA) into the anticipated larger market for intelligent process automation tools.

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Follow the Money May 2021: 51 Funded Machine Learning Companies

May 2021 latest funding of artificial intelligence, machine learning, robotics

May 2021 latest funding covering artificial intelligence, machine learning, robotics, and innovation.

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5 investors discuss the future of RPA after UIPath’s IPO

RPA attention

Robotic process automation (RPA) has certainly been getting a lot of attention in the last year, with startups, acquisitions and IPOs all coming together in a flurry of market activity. It all seemed to culminate with UiPath’s IPO last month. The company that appeared to come out of nowhere in 2017 eventually had a final private valuation of $35 billion. It then had the audacity to match that at its IPO. A few weeks later, it still has a market cap of over $38 billion in spite of the stock price fluctuating at points.

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Gartner says low-code, RPA, and AI driving growth in ‘hyperautomation’

gartner

Research firm Gartner estimates the market for hyperautomation-enabling technologies will reach $596 billion in 2022, up nearly 24% from the $481.6 billion in 2020. Gartner is expecting significant growth for technology that enables organizations to rapidly identify, vet, and automate as many processes as possible and says it will become a “condition of survival” for enterprises. Hyperautomation-enabling technologies include robotic process automation (RPA), low-code application platforms (LCAP), AI, and virtual assistants.

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Berlin’s Bryter raises $66M to take its no-code tools for enterprises to the US

Man and woman on device

No-code startups continue to see a lot of traction. Bryter – an AI-based no-code startup that has built a platforms used by some 100 global enterprises to date across some 2,000 business applications and workflows – is announcing a new round of funding to double down on that opportunity.

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Auditoria raises $15.5M to expand AI platform automating repetitive accounting tasks

Auditoria AI

Auditoria, a startup offering AI-driven automation products for corporate finance teams, today announced that it raised $15.5 million in series A funding. Cofounder and CEO Rohit Gupta says that the proceeds will shore up Auditoria’s investments in data science and the expansion of its sales, marketing, and customer success teams.

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UIPath’s meteoric rise from unknown startup to $35B RPA juggernaut

UIPath trajectory graph

When TechCrunch covered UIPath’s Series A in 2017, it was a small startup out of Romania working in a little known area of enterprise software called robotic process automation (RPA). Then the company took off with increasingly large multi-billion dollar valuations. It progressed through its investment rounds, culminating with a $750 million round on an eye-popping $35 billion valuation last month.

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ServiceNow acquires RPA startup Intellibot to bring automation to legacy systems

ServiceNow

Cloud computing firm ServiceNow today announced it has signed an agreement to acquire Intellibot, a robotic process automation company based in Hyderabad, India, for an undisclosed amount. ServiceNow, which expects to complete the purchase in Q2 2011, says it plans to fold Intellibot’s capabilities natively into its platform, enabling ServiceNow customers to bring AI and machine learning to legacy systems.

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RPA and Cognitive Automation: Deciding the best automation technology

Businesses across the globe are going through rapid digital transformation and automation. Cutting-edge technologies like AI, robotics, and IoT are enabling this transformation by enhancing business efficiency and agility. Robotic Process Automation (RPA) and Cognitive Automation are two components of redefining and automating industry-wide business operations. According to a Statista report, the expenditure on Cognitive Robotic Process Automation is expected to reach about 3.62 billion USD globally at a CAGR of 60.9% from 2017 to 2026.

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Four areas in Healthcare in which RPA can make a difference

Although it may not be one of the first sectors to come to mind when discussing process automation, the healthcare industry is one where RPA, has the ability to make a significant difference. Healthcare is an expanding and growth-oriented industry, especially in emerging or traditionally underprivileged markets, and as the number of patients grows, the need for more effective and reliable back-office procedures for healthcare providers has increased dramatically in recent years. Advanced automation systems for activities such as patient scheduling, payments, and claims processing, among others, are critical to boosting the effectiveness of these processes.

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