AI and IPA Star Automation Hero Receives $14.5 Million
San Francisco (USA)/ Berlin — Breakout company Automation Hero has secured a $14.5 million investment led by Atomico and backed by Baidu and Cherry Ventures that will help it become a leader in next-generation AI and data-centric intelligent process automation (IPA). The startup company aims to dramatically shift the market for robot-driven process automation (RPA) in an environment where companies are looking for new ways to automate business and IT processes.
The company’s mission is to help information workers by automating mundane, repetitive tasks, freeing up more time for more fulfilling, value-added activities like interacting with customers. Ben Blume, Principal of Atomico, joins Automation Hero’s Board of Directors as part of this latest round of funding.
For the Automation Hero team, rapidly building disruptive technology companies is not new territory. Founder Stefan Groschupf (photo) has over 25 years of experience in the field of machine learning and was one of the first Big Data activists to work on the Apache Hadoop project. The team and Groschupf founded the award-winning Big Data business intelligence company Datameer in 2009, which counts more than 50 percent of Fortune 50 companies among its customers and has secured a spot in Gartner’s Magic Quadrant for Business Intelligence and Analytics in just five years.
RPA + AI = IPA
The market for RPA has seen tremendous growth in recent years, but the current technology was developed over a decade ago and is limited to automating simple, repetitive click robots. Data integration, processing, and machine learning are added after the fact. Therefore, the intelligent automation of more demanding business processes in complex IT environments remains a challenge.
Automation Hero’s AI- and Big Data-centric intelligent process automation platform tackles the problem with an entirely new approach. Instead of running automations as isolated robots, Automation Hero’s platform runs highly scalable, distributed automation workflows that combine click robots, structured and unstructured data sources, Deep Learning, data processing, and workers into an intelligence network that creates an operating system for modern businesses.
The company is already seeing explosive global growth, particularly in large sales organizations where the return on investment generated by automation is high. The three main use cases focus on eliminating manual, repetitive, time-consuming tasks, automating common customer inquiries that arise, and supporting sales rep decision making. Customers in the financial services, telecommunications, travel and tourism industries report hundreds of millions of dollars in return on investment by saving their employees up to an hour of work per day.
New financing to accelerate global growth
This next round of funding was raised in just 12 months, bringing the total investment to $19 million. It is used to accelerate the growth of Automation Hero. The team most recently welcomed Peter Voss, former CTO of Datameer, to its midst.
About Automation Hero
Automation Hero combines RPA with AI to create a platform for intelligent process automation that connects AI with the human workforce. By automating repetitive and time-consuming tasks, Automation Hero improves productivity and delivers more successful, optimized business results.
Automation Hero is a portfolio company of the leading capital investment companies in AI and Deep Learning ̶ Baidu USA, CometLabs, Cherry Ventures, signals VC and Atomico ̶ and is headquartered in San Francisco (USA).