Apromore, a leading provider of AI-driven process mining and digital solutions, announced it has closed an additional $15 million in funding as an extension to its Series B, led by existing investors with participation by Tin Alley Ventures, a joint venture between Tanarra Capital and the University of Melbourne and other investors. This funding brings the total amount of the Series B round to $25.3 million USD / $38.7 million AUD.
Apromore has been continuing to experience momentum, with its revenue growing by triple-digit growth rates in the last twelve months. And the new investment enables Apromore to continue delivering rapid value to its customers and will be used to support additional expansion in the US and Europe and accelerate Apromore’s AI product roadmap.
The company – which is building on its digital twin capabilities and its no-code user experience – will continue to extend the platform’s capabilities with an AI-enabled optimization engine to recommend opportunities to simplify, automate, and standardize activities and workflows, and to provide conversational interfaces for efficient discovery, analysis, and simulation of end-to-end processes.
The lack of as-is process visibility and the inability to model and test changes or automation before implementation can compromise promising digital transformation initiatives, jeopardize customer experience and impact compliance. And the Apromore platform enables business and technology teams to quickly visualize and analyze their business processes and simulate proposed changes before implementation. These capabilities enable managers to estimate the impact and risk of change, which in turn leads to decisions with predictable ROI.
This funding round adds Param Kahlon, EVP and GM of Automation and Integration at Salesforce, as observer to Apromore’s board of directors.
KEY QUOTE:
“Process mining has emerged as a critical solution for businesses seeking to enhance operational efficiency, enable better customer experience and accelerate digital transformation. It’s expected that one in four global enterprises will have process mining platforms in the next twelve months. We’re proud to see such strong interest in Apromore, which not only validates our vision and current trajectory, but also fuels our ambition to define what’s possible in the field of process mining and operational intelligence. We appreciate the confidence and validation from our investors and look forward to collaborating with new investors to help redefine business transformation through process data.”
- Apromore CEO and Co-founder Marcello La Rosa
