UK-based autologyx is a proccess automation platform that moves beyond simple task-based automation. It is driven by events and data – not processes – and allows companies to integrate next-generation technologies such as machine learning with legacy systems.
Founded in 2014, the startup has announced that it has raised an additional €1.2 million to expand its foothold in legal, RPO and insurance sectors. The digital operations platform, which automates real-world, complex business processes, has seen significant growth over the past year, both in terms of recurring revenues – which have doubled, and demand for its market-leading platform.
Angel CoFund (ACF), Beacon Capital and Richard Hargreaves, an early investor in RPA business Blue Prism Group plc, led the round following their investment in the startup’s pre-series A round in 2017.
“Autologyx has maintained an excellent track record since we first invested in the team, and they’ve delivered some first class results for customers,” said Tim Mills, founder partner of the Angel CoFund. “Their growth demonstrates a strong market demand for solutions that can help businesses automate everyday processes and increase efficiency. We are pleased to be part of this round supporting autologyx’s continued success.”
The additional funding will enable autologyx to accelerate the company’s development of its digital operations platform for companies in the legal, RPO, and insurance sectors as its clients look to realise the full potential of automation and new technologies.
“When it comes to automation, having a partner whose platform is designed for your future business, not just the business you are today, is critical,” said Barry Rodick, Innovation Lead at ES Ignite. “This is what autologyx offers; the platform gives us exactly what we need now but also enables us to realise our future ambitions at speed. We’re still only using a fraction of its capabilities but we’re already seeing significant returns.”
Barry Rodick and Ben Stoneham will be presenting this case study at the ‘Machine Learning in Legal Event’ in London on Friday 21st June 2019.
“Automation is one of the hottest buzzwords in business but to-date many enterprises have been disappointed by the solutions they have implemented, as often, the technologies they have bought have failed to embrace their ‘real world’ complexities,” said Ben Stoneham, CEO and founder of autologyx. “Our platform is different; it enables businesses to automate the way their world is now, not to suit the technology, whilst enabling them to digitise their business and deliver innovative solutions for their customers.”