Berlin-based automation and cloud-based open source software provider Camunda has closed an €82 million Series B round.
According to Gartner’s Move Beyond RPA to Deliver Hyperautomation report, “Organizations have a tremendous amount of “collective” debt (technical, process, data, architecture, talent and social) that significantly affects their value proposition and brand. The cause is an extensive and expensive set of business processes underpinned by a patchwork of technologies that are often not optimized, lean, connected, consistent or explicit.”
Used to design, automate, and optimise business processes from end-to-end, Camunda’s ultimate value proposition is to assist clients in achieving a faster time-to-value.
Needless to say, when the world collectively shut down, demand for automation rose dramatically. Camunda saw a banner year with new orders streaming in from the likes of Atlassian, Desjardins Group, Deutsche Telekom, Priceline, and Santander, and added Camunda Cloud, a process automation as a service platform, as well as continued updates of its PRA modernisation solution.
“Process automation is a multi-billion-dollar global market opportunity. Camunda has been breaking new ground with their business model and cloud-native technology. As a result they have become a driving force shaping the new process automation market,” said Matt Gatto, managing director at Insight Partners. “We have been impressed with the tremendous value Camunda’s innovative approach has provided for some of the world’s most demanding organizations.”