The European business process automation software startup, KYP.ai, has recently secured a significant Series A fundraising round, raising nearly $18.7 million USD (€17.5 million Euros). Led by OTB Ventures, the funding round also saw participation from existing backers 42CAP and Tola Capital. This development marks a crucial milestone for KYP.ai as it aims to scale its business globally. Under the leadership of CEO and co-founder Adam Bujak, the company plans to expand its operations in the U.S. and strengthen its existing customer bases in Europe and Asia. With a wide range of clients in sectors such as technology, insurance, healthcare, utilities, business process outsourcing (BPO), and logistics, KYP.ai is set to revolutionize the way businesses handle their tasks and processes.
KYP.ai’s flagship software platform, known as “Productivity 360°”, is an innovative web app management tool designed to provide deep insights into business processes, the people behind them, and the technology that enables them. By employing proprietary AI algorithms, KYP.ai’s platform offers process discovery, streamlining the company’s data infrastructure, and identifying blockages and inefficiencies. It then suggests automation tools to address these issues. Additionally, the platform uses a visual heatmap to identify repetitive and monotonous tasks that are prime candidates for automation, ultimately saving time and money for clients. The efficacy of KYP.ai’s platform is evident, with current clients reporting an average annual saving of $2.7 million through increased automation.
As an AI-based company, KYP.ai has been at the forefront of the enterprise AI landscape. It actively assists businesses in adopting cutting-edge AI models, including newer technologies like OpenAI’s ChatGPT. KYP.ai recognizes the significant scalability and impact potential offered by these AI models and helps its clients seize the opportunities. By acting as an informed consultant and resource, KYP.ai empowers its clients to leverage generative AI technologies to maximize operational efficiencies. In doing so, it competes directly with established consultancies and agencies that collaborate with leading AI providers to offer similar services. Notable companies that have already embraced KYP.ai’s Productivity 360° include DHL, Mindsprint BPS, Hollard, Qinecsa, Allied Global, and Alorica.
Amid the COVID-19 pandemic, KYP.ai played a crucial role in helping businesses adapt to remote operations. Mindsprint, a business services tech firm, relied on KYP.ai’s expertise to map over 600 processes involving more than 1,200 employees. Today, Mindsprint continues to utilize KYP.ai’s technology as its mission-critical process tracking and improvement tool. This success has contributed to OTB Ventures’ decision to lead the Series A funding round. The venture capital firm recognizes the growing importance of measuring productivity, especially with the rise of hybrid and remote workforces. KYP.ai is well-positioned to cater to this demand and drive organizations towards achieving optimal productivity, irrespective of geographical location.
With the recent funding injection, KYP.ai is poised for significant growth and expansion. The company aims to capitalize on its success in Europe and Asia and establish a strong presence in the U.S. market. KYP.ai will leverage its expertise in automation and AI to propel businesses towards enhanced productivity and cost savings. Through its innovative platform, Productivity 360°, KYP.ai will continue to empower business leaders to make informed decisions and navigate the challenges of the modern business environment. As OTB Ventures’ co-founder Adam Niewiński emphasizes, the future lies in leveraging emerging technologies to measure productivity. In this regard, KYP.ai is at the forefront, enabling businesses to unlock their true potential and pave the way for a new era of streamlined operations.