- The company said that the investment will help Apromore to strengthen its product development capacity and to expand into the realm of AI-driven automated process improvement
- Other than GBTEC, there was investment from Leonardo and The University of Melbourne
Apromore, the developer of open-source process mining technology, today announced has announced that it has raised AU$6.84 million (EUR 4 million) in a Series A round led by German business process management specialist GBTEC. It also saw investment from Melbourne-based consulting and technology firm Leonardo and The University of Melbourne, which helped to incubate Apromore before spin-off.
The company said that the investment will help Apromore to strengthen its product development capacity and to expand into the realm of AI-driven automated process improvement. This includes robotic process mining, prescriptive process analytics, and automated decision optimisation.
AI-driven automated process improvement
Apromore’s CEO, professor Marcello La Rosa said, “Apromore inherits a decade of R&D in the field of business process management and process mining, and we have packed the most advanced algorithms for process mining into Apromore’s products. This investment will allow us to maintain our competitive advantage, by incorporating the latest research and innovations in the field of AI-driven automated process improvement into our product. It will also allow us to continue pursuing our mission of democratising process mining via a commercial open-source business model.”
The company said that the investment is coupled with a strategic partnership with GBTEC. It will see GBTEC offer Apromore’s process mining technology as a core component of its BIC Platform for business process modelling and automation.
Gregor Greinke, GBTEC’s CEO said, “The integration of Apromore into the BIC Platform will provide a one-stop shop for companies seeking to accelerate their digital transformation journey with full-lifecycle process optimisation. The analytics capabilities that Apromore brings into the BIC Platform are truly exceptional when it comes to identifying underperforming processes, rework loops, waste, and bottlenecks. By joining forces, we are certain to establish one of the best analytics and AI-driven process optimisation tools on the market.”
Integrated robotic process discovery
Apromore said that the company is a result of over a decade of extensive research and innovation at The University of Melbourne, University of Tartu (Estonia), and other research institutions globally.
Leonardo’s managing director Adam Mutton also commented on Apromore’s potential. He said, “Apromore is leading the way in innovative AI-driven process improvement – from automated discovery of actual as-is processes, to predictive process modelling based on live data to future directions involving integrated robotic process discovery, scripting and automation. Clients are excited by the ability to dramatically reduce discovery and analysis time, rapidly analyse large data sets, and drill to specific issues and root-cause analysis to determine the highest priority improvements.