Danish startup Leapwork has closed the Series A investment round with a $10 million investment from Berlin’s e-ventures and London’s DN Capital. The company already has an extensive client base which includes global healthcare firm, tier-one banks, software and aerospace companies and now they want use this new round of investment for expanding to U.S.
Most work which involves computers is very repetitive that’s why companies hire developers for writing codes to automate these repetitive tasks but the process is not very scalable. In an ideal situation, not just developers but individuals across the whole business would be capable of creating automated tasks, which is now being called as process automation. Startups in the process automation space are all working to help companies work more efficiently. That’s what Leapwork does.
Most of the available tools in the market are complicated and code-based which repels non-technical people from going anywhere near them. Ideally, you would have trained software robots for handling mundane and repetitive tasks. The customers of Leapwork already have experienced working with tools such as BluePrism, UiPath, MicroFocus and Tricentis, but they are using Leapwork after realizing the limits of code-based tools.
Leapwork was founded in Copenhagen, Denmark in 2015 and launched its services in April 2017. Leapwork has modern tech stack backed entirely visual system. The staff can use it to automate tasks without the help of developers. There is no need to write any code and the software’s simple user interface is similar to learning Excel or PowerPoint. Leapwork says that they can save up to 75% of employee time.
Leapwork’s CEO Christian Brink Frederiksen said, half of Leapwork’s business comes from the U.S. and the new investment will help us to serve the U.S. customers better and to reach new ones.
Leapwork has gained traction in areas like robotic process automation, data migration and software testing in healthcare and finance. With headquarters in Copenhagen, Denmark, Leapwork also has offices in Gurugram, India, Minsk, Belarus, San Francisco, USA and London, UK.
DN Capital’s Thomas Rubens said that they are impressed by the product offered by Leapwork and believe that it has potential to disrupt the automation landscape. Every company has deal with some form of repetitive tasks which could be automated and they also don’t have sufficient developer resources to make it happen.
The company was launched in 2015 by the founders after almost two decades of experience in business-critical IT and enterprise software. The first pilot was launched in July, 2016 with customers in Europe and U.S. prior to this funding round, the company was being bootstrapped by the founders which they could manage considering their successful previous engagements.
Santosh Kumar is a respected voice in the ICT domain. He has authored over 30 studies pertaining to cloud, cybersecurity, AI, and Big Data.