Home RPA Startup ElectroNeek Raised $20M Series A Round At The Valuation Of $105M

RPA Startup ElectroNeek Raised $20M Series A Round At The Valuation Of $105M

by sol-admin

ElectroNeek, an RPA platform for managed service providers (MSPs) and IT teams, recently raised a $20M Series A round at a post-money valuation of $105M from Baring Vostok, AICPA, and existing investors such as Dragon Capital, I2BF, Chris Golda, Gokul Rajaram, Angelsdeck, Yellowrockets.vc, Sergey Dashkov, Softline Ventures and others.

ElectroNeek claims to have become one of the fastest-growing RPA platforms in 2021, with over 250 customers in more than 40 countries. Recently, the company established partnerships with Microsoft, Oracle, and Nvidia and announced plans to expand its presence in North America, Latin America, Europe, the Middle East, and India. In 2020, ElectroNeek reported 400% top-line growth.

The future of RPA is in selling RPA bot development as a subscription service. In the past, consultants and system integrators developed RPA bots for their clients and walked away with one-time project fees, limiting their long-term interest in the RPA implementation business. But now our traction among managed service providers demonstrates that they are much more effective with their clients when they sell RPA bot development as a subscription — building their own SaaS business on top of the RPA platform. We aligned our architecture and business model to enable managed service providers to build recurring revenue, changing the rules of the game in the automation industry.”

Sergey Yudovskiy, CEO of ElektroNeek

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