Leapwork raises $10M for its easy process automation platform, plans US expansion
Most work involving computers is highly repetitive, which is why companies regularly have developers write code to automate repetitive tasks. But that process is not very scalable. Ideally, individuals across an entire business would be able to create automated tasks, not just developers. This problem has created a new category called process automation. Startups in this space are all about making companies more efficient.
Most of the existing tools on the market are code-based and complicated, which tends to make it tough for non-technical people to automate anything. Ideally, you would allow them to train software robots to handle repetitive and mundane tasks.
This is the aim of Leapwork, which today announces a Series A investment of $10m, from Londons’s DN Capital and e.ventures out of Berlin. The company already has many clients, from tier one banks and global healthcare firms, to aerospace and software companies, and now plans to expand in the US. Its customers typically already have a lot of experience with tools such as Tricentis, MicroFocus, UiPath and BluePrism, but employ Leapwork when code-based tools prove limiting.
Founded in 2015 and launched in April 2017, Leapwork has an entirely visual system, backed by a modern tech stack. Instead of using developer time, staff automate tasks themselves, without writing any code, with a simple user interface that is likened to learning Powerpoint or Excel. Leapwork estimates it can save 75% of an employee’s time.
Christian Brink Frederiksen, Leapwork’s CEO and co-founder said: “About half of our business comes from the US and this investment will enable us to serve those customers better as well as reaching new ones.”
Leapwork has found traction in the areas of software testing, data migration, and robotic process automation in finance and healthcare. Based in Copenhagen, Denmark, Leapwork has offices in London, UK, San Francisco, USA, Minsk, Belarus, and Gurugram, India.
Thomas Rubens, of DN Capital, said: “From the outset we were impressed by Leapwork’s product, which we believe will change the automation landscape. Every company has repetitive tasks that could be automated and few have the developer resource to make it happen.”
The founders began in June 2015 in Copenhagen, Denmark, after having worked for almost two decades in enterprise software and business-critical IT. They launched their first pilot in July 2016 and after working with Global2000 pilot customers in the US and Europe, went live with the Leapwork automation platform in March 2017.
Prior to this funding the company was bootstrapped by the founders as both had previous successful exits.