Automation Hero secures $14.5 million funding to help businesses automate repetitive processes with intelligent process automation
Inefficient processes cost organizations as much as 20-30% of their annual revenue. Intelligent process automation is the solution to optimizing organizational effectiveness by reducing the time and money that’s wasted on broken processes. Breakout company, Automation Hero, is an AI startup aiming to help businesses automate to get them beyond the day-to-day mundane tasks and repetitive processes so they can focus on the bottom line.
Today, Automation Hero announced it has raised $14.5 million investment led by Atomico and supported by Baidu Ventures (BV) and Cherry Ventures to lead the new generation of AI and data-centric Intelligent Process Automation (IPA). In conjunction with the funding, Automation Hero also announced that Ben Blume, principal at Atomico, will join its board. This round of funding was raised within just 12 months and brings the total investment to $19M. It will be used to accelerate Automation Hero’s growth, including the expansion of its international team.
Founded in 2017 by Stefan Groschupf, Automation Hero combines Robotic Process Automation (RPA) with AI to form an intelligent process automation platform that unites AI with the human workforce. By automating repetitive and time-consuming tasks, Automation Hero improves productivity and drives more successful, optimized business outcomes.
Stefan has over 25 years of experience in machine learning and was one of the earliest big data activists working on the Apache Hadoop project. The team behind Automation Hero is not new to building disruptive, hyper-growth technology companies. They started the award-winning big data business intelligence company, Datameer, in 2009, which has counted more than 50 percent of the Fortune 50 companies as customers and secured a place in Gartner’s BI and Analytic Magic Quadrant in just five years.
As companies search for new ways to automate business and IT processes, Automation is poised to dramatically shift the Robotic Process Automation (RPA) market. Its mission is to support information workers by automating mundane, repetitive tasks and give back time for more fulfilling higher value-add activities such as interacting with customers.
The RPA market has seen extreme growth in the last few years, but current technology was architected over a decade ago and is limited to automating simple, repetitive click robots. Data integration, processing and machine learning are added as an afterthought and therefore intelligently automating more advanced business processes in complex IT environments remains challenging.
Automation Hero’s AI and big data-centric intelligent process automation platform tackles the problem with a completely new approach. Instead of running automations as isolated robots, Automation Hero’s platform runs highly scalable, distributed automation flows that weave together click robots, structured and unstructured data sources, deep learning, data processing and the human workforce into an intelligence fabric that creates an operating system for the modern enterprise.
Even novice users can quickly automate repetitive business processes with Automation Hero’s simple-to-use automation recording capabilities. Advanced automations can be easily built from hundreds of functions in the platform’s intuitive point-and-click Flow Studio.
Data can be loaded or stored through one of the over 50 point-and-click connectors. Click robots can extract data from any kind of user interface and fill documents or forms in Web, Windows or Mac applications.
“Automation is the enterprise AI killer use case. However, the decade-old RPA technology out there has only slapped on AI – calling Cloud AI APIs or OCR tools. Given our experience we have built an enterprise-ready AI automation platform from the ground up,” said Stefan Groschupf, CEO of Automation Hero. “We’re already seeing our customers create automations in days, increase productivity and improve customer satisfaction with impressive revenue impact.”
“Stefan is an experienced entrepreneur and exceptional technologist, with a relentless focus on building hyper growth companies with category-defining products that provide clear value to enterprise-scale customers. Intelligent Process Automation will drive a whole new kind of transformation across major business processes, and Automation Hero’s highly experienced team is incredibly well positioned to deliver this to organizations around the world,” said Ben Blume, principal at Atomico.