Are you ready to bring more awareness to your brand? Consider becoming a sponsor for The AI Impact Tour. Learn more about the opportunities here.
With production accelerating across markets, the task of automating workflows has taken on greater urgency. This has led to a surge in chatter around hyperautomation, the concept of integrating several process automation technologies to achieve even greater digital transformation velocity.
Berlin-based Camunda was founded in 2008 and is using open source software to help enterprises achieve that hyperautomation by combining areas like process design, modeling, and analyzing large datasets through the use of visual interfaces so developers and business-side employees can contribute.
Today Camunda announced it has raised $100 million in a round led by Insight Partners. The raise included money from Highland Europe, which led the company’s $28 million round in 2018.
“Camunda was founded on the premise that making it easy for business stakeholders and developers to automate and improve business processes would have a transformational impact on organizations,” company CEO and cofounder Jakob Freund said. “It also shows the huge global market opportunity that is in front of Camunda as demand for open, cloud-native process automation solutions that can orchestrate processes end-to-end is quickly reshaping the market.”
The AI Impact Tour
Connect with the enterprise AI community at VentureBeat’s AI Impact Tour coming to a city near you!
In its press release, the company said the investment validates its progress on hyperautomation. Clients include Allianz, ING, Intuit, and Vodafone.
Those companies are facing the challenge of keeping up with a vast number of new technologies that hold the promise of greater automation. But integrating them all and optimizing to achieve maximum efficiency remains a big hurdle. Companies that fail to do so risk falling behind competitors while disappointing customers and clients who are demanding greater speed.
Camunda promises to help reduce this technical backlog by making it easier to orchestrate automation across a wider range of processes. That effort has been boosted by the company’s process-automation-as-a-service platform — Camunda Cloud — that was released last year.
The company plans to use the latest round of funding to expand marketing and sales, as well as continuing its focus on product development.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.