Founded in 2017, FortressIQ is a leading process discovery and mining company in San Francisco. In May 2020, the company raised $30 million in Series B funding led by M12 (Microsoft’s venture fund) and Tiger Global Management, with participation from earlier investors Boldstart Ventures, Comcast Ventures, Eniac Ventures, and Lightspeed Venture Partners. Yesterday, it was announced FortressIQ had entered a definitive agreement to be acquired by Automation Anywhere, one of the leaders of the RPA revolution we have witnessed for the last years.
With the acquisition of FortressIQ, Automation Anywhere will advance its AI-powered, cloud-native Automation 360 platform with process discovery, intelligence, and optimization that can scale to any system or application across any vertical. The new capabilities offer built-in intelligence that provides fast, accurate visibility on which processes can and should be automated.
Major RPA vendors are starting to invest in building out process mining. Automation Anywhere rival UiPath developed some of its own tools before buying Process Gold and StepShot for their process mining capabilities. Blue Prism recently released a task mining solution called Capture, while other vendors, including ABBYY and Kryon, are slowly expanding their own process mining offerings.
“Demand for RPA and intelligent Automation has skyrocketed as the pandemic endures, and organizations have looked to Automation for business resiliency, to support remote workers and streamline the business. With this acquisition, we will add new capabilities from FortressIQ with built-in intelligence to our automation platform and create a joint roadmap that focuses on making AI-powered process discovery and process intelligence more robust. This will enable customers to speed and scale their automation journey.”
Mike Micucci, COO, Automation Anywhere