by Disha Sinha
December 10, 2021
These automation startups raised the biggest automation investments and funding of 2021
The emergence of artificial intelligence has created massive popularity for the adoption of automation in several industries across the world. Investors are encouraged to invest millions of dollars in different automation start-ups to increase business efficiency and performance. The main goal of these automation start-ups is to improve the standard of living of the company, including employees and customers. Automation financing as well as investment in automation is thriving in the global technology market with multiple priming cycles like the A, B series and many more. The global automation market is expected to reach US $ 355.44 billion in 2028 with a CAGR of 9.2%. Let’s explore some of the biggest automation investments and funding of 2021.
Main investments and financing in automation in 2021
Posh Technologies received one of the largest automation investments in 2021 with automation funding of US $ 27.5 million. This automation startup focuses on conversational AI and natural language processing technology. It received this A-series automation funding from Canapi Ventures with additional investments in research and product development.
Torq has raised $ 50 million in Series B automation funding, one of the biggest automation investments of 2021. Torq is known as the Portland-based codeless automation platform for engineering teams. security and the total value of the funding led to 78 million US dollars. This investment in automation is led by SentinelOne, GGV Capital and Bessemer Venture Partners. It will use the proceeds to drive expansion to meet customer demand and manage security service providers.
Celigo secured one of the largest automation investments of 2021 with US $ 48 million in Series C from OMERS Growth Equity and NewSpring Capital. The goal is to direct this automation funding to improve business automation for midsize businesses and go-to-market capability. This automation startup is renowned for being the only iPaaS company to provide pre-built business process automations with built-in business logic.
Tipalti has raised an intelligent automation investment worth US $ 270 million as an accounts payable automation start-up. It received this F-Series automation funding and the total valuation reached $ 8.3 billion. This automation startup uses artificial intelligence to help businesses manage vendors, invoices, payments, and many other financial services from a cloud platform.
Pento is a popular automation startup known for creating payroll automation software that received US $ 35 million in Series B from Tiger Global Management and Avid Ventures. The SaaS offer is fully automated so that payroll managers and finance teams have more control and visibility.
Virtuoso has secured US $ 13.3 million in a Series A automation financing from Paladin Capital, Mubadala Capital, Crane Venture Partners, Forward Partners and Downing Ventures. This automation startup is focused on providing codeless test automation to CI / CD via a natural language interface. It leverages RPA to simplify the quality assurance process of software deployment testing.
Workato landed one of the largest automation investments and funding of 2021 with US $ 200 million in E-Series automation funding to drive record growth and capitalize on growing demand for enterprise automation. This investment in automation was led by Battery Ventures, Insight Partners, Altimeter Capital and Tiger Global.
WorkFusion has successfully raised US $ 220 million to accelerate its growth in intelligent automation. This is one of the biggest smart automation investments of 2021 in Georgian’s F-Series automation funding. This funding will help strengthen its leadership trajectory in the world’s fastest growing software segment. Intelligent automation software helps automate industry-specific manual operations to effectively solve complex business problems.
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