RPA Supervisor raises USD5m in seed fund led by MMC Ventures
The first automated RPA management platform, RPA Supervisor has raised USD5 million in a Seed round led by MMC Ventures.
RPS Supervisor has also appointed a new board member and investor, Pascal Baker, formerly founder of Symphony Ventures and pioneer in the Intelligent Automation Market. The investment will boost the startup’s innovation capabilities, feeding into Research & Development and expansion across EMEA and the US.
The Robot Process Automation (RPA) market where software technology automates digital tasks through robots has experienced rapid growth during the past 18 months. However, 30-50 per cent of RPA projects fail. This often stems from the management of robots once deployed to production. Currently, organisations are forced to manually monitor, allocate schedules, and fix operational issues to make sure that business-critical work is done. This holds back scaling of RPA and increases total cost of ownership.
With robots taking on more manual tasks across different departments such as sales, HR, finance, and banking, it's critical that the robot workforce is effectively managed. RPA Supervisor is a web-based platform which automatically orchestrates existing RPA solutions within an organisation and provides management capabilities which are highly responsive - ensuring stable operations 24/7 without any human intervention. This reduces the amount of time spent on mundane tasks by up to 100 per cent, and the response-times for incoming work by up to 80 per cent.
Its advanced prioritisation engine drastically optimises RPA resources by monitoring all aspects of RPA operations, delivering insights and real time reporting to manage performance and stability of operations and speed up digital transformation projects. Through business-oriented orchestration, organisations can check the health, status and capabilities of robots, status and work rate for all processes, workload for each process and SLA adherence of each process and worker.
Clients across financial services, supply chains and retail have experienced results instantly. A European bank wanted to increase customer satisfaction while at the same time reducing the number of robots and time spent on manually managing these. Within the first week, the RPA license capacity increased by 62 per cent and the average responsiveness of robots were improved by 84 per cent, helping the bank to dramatically improve customer service levels and satisfaction. After only a few weeks, manual controller effort was reduced by 77 per cent, reducing operational costs.
Whilst RPA vendors offer software to automate tasks, RPA Supervisor’s management platform automates operations & optimises efficiency across platforms – driving scalability and digital transformation.
It partners with leading RPA Vendors such as UiPath, Blue Prism, Automation Anywhere & Microsoft, along with Consulting and Reselling partners like EY, Accenture, CGI, Reveal Group, Avo Consulting, and Digital Workforce.
Erik Lien, CEO at RPA Supervisor says: “Over the last few years the appetite amongst private organisations to deploy RPA robots to streamline and automate processes in new working environments has skyrocketed. Now, organisations will need to scale these RPA capabilities to realise the full value of those investments. This requires efficient management, orchestration and insight into the performance of the robots. RPA Supervisor’s automation management platform delivers this level of operational excellence - transforming RPA operations and enabling organisations to scale efficiently.
“Once that scalability is achieved, the next level of automation is to connect employees, robots and AI to make them work as a team – otherwise known as hyperautomation. RPA Supervisor’s integration capabilities paired with dynamic orchestration makes it the only hyperautomation orchestrator to link employees, robots and AI solutions efficiently and effortlessly.”
“As enterprise investment in RPA continues to accelerate, we see a strong need for the orchestration layer that will enable expansion beyond RPA across multiple parts of the enterprise automation cycle, driving further deployments of robotic processes,” says Mina Samaan, Principal at MMC Ventures. He continued: “We’ve been impressed with Erik and the team’s ambition and understanding of the problem, having been buyers and implementers of this technology themselves. We are confident that this team can deliver on the scope of their ambition, and we’re excited to be the first institutional investors behind them.”