Camunda, a Berlin-based startup that specializes in open source automation software, has announced that the company has secured $98 million from its Series B investment round.
In December of 2018, Camunda raised $28 million from a Series A round that was led by investment group Highland Europe. One of the co-founders of Camunda, Jakob Freund, believes that the latest jump in funding stems from the diverse application potential that the company’s automation software offers compared to industry competition.
“There’s a bigger thing going on which you could call end-to-end automation or end-to-end orchestration of endpoints, which can be RPA bots, for example, but also micro services and manual work [by humans],” Freund said.“Camunda has become this endpoint agnostic orchestration layer that sits on top of everything else.” That means that it provides the ability to orchestrate how the automation pieces work in conjunction with one another to create this full workflow across a company.
Camunda originally began as a business process management startup when it was founded in 2008, but switched it’s focus to open source software in 2013. Over the last decade, the market began warming up to notice of the open-source model, which led to Camunda’s first large investment almost four years ago. The company currently has working relationships with many well known global businesses, such as Goldman Sachs, Lufthansa, Universal Music Group.
Matt Gatto, managing director at Insight Partners, commented on the company’s rising potential in the industry, stating, “Camunda’s success demonstrates how an open, standards-based, developer-friendly platform for end-to-end process automation can increase business agility and improve customer experiences, helping organizations truly transform to a digital enterprise.”
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