Leading robotic process automatic (RPA) company that grants enterprises the ability to maximize operations and optimize employee work, Kryon®, has recently announced a successful close of their Series C funding round with a total of $40 million. Leading the investment was OAK HC/FT, alongside prior investors Aquiline Technology Growth and Vertex Ventures who both contributed to their Series B run.
The new capital will be put towards further development of its transformative tech and journey into expansion across new locations, as well as growing the sales and marketing teams and sprouting new offices worldwide.
"RPA is one of the fastest-growing industries, and Kryon is leading the pack with their innovation and technology," said Tricia Kemp, Co-Founder and General Partner of OAK HC/FT. "Kryon's revolutionary product, Process Discovery, has distinguished itself as a key driver to RPA adoption, and we believe that the company will continue to be a leading force in the industry. The company has already forged some key partnerships with companies such as Microsoft, IBM, Software AG, EY and many more."
Kryon Process Discovery has intensely changed how automation effects industries, continually improving the amount of time it requires for companies to scale RPA implementation and reduce distribution duration by around 80%. Process Discovery, along with Kryon's RPA programs, allows for an end-to-end RPA process lowering overall cost of ownership and allowing businesses to create a continual optimization environment. Since starting up, Kryon Process Discovery has dramatically altered how businesses approach RPA, moving from conjecture toward analysis, all while reducing the amount of effort required for a company to go through to begin the automation process.
"We are excited to bring on such a well-respected strategic investor that shares our vision of holistic RPA," said Harel Tayeb, CEO of Kryon. "Kryon has seen tremendous growth in the past year, bolstered by the release of Process Discovery. With this new funding, we plan to accelerate our efforts to provide enterprises with today's most innovative RPA solutions, enable them to 'automate the automation' through Process Discovery and pave the way for them to realize the dream of a robot for every employee."
Receiving prestige for a business-centric approach, unique tech builds and AI leveraging in its RPA and Process Discovery platforms, Kryon succeeded in a year-over-year sales jump of over 100% in 2018, and welcomed veteran executives onto their board: Richard French, Chief Revenue Officer, Julie Shafiki, Chief Marketing Officer and Jim O'Gara as VP, Global Partners.
Dan Petrozzo, Venture Partner at OAK HC/FT, will join Kryon's Board of Directors and Matt Streisfeld, Principal at Oak HC/FT, will join as a Board Observer.
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