Camunda Secures $98M Series B Funding - Process Automation News

Camunda Secures €82 Million in Series B Funding

The growing significance of automated workflow tools is evident in the current market. This trend likely contributes to the recent announcement by Camunda, a Berlin-based startup specializing in open-source process automation software, of an €82 million Series B funding round.

This investment is equivalent to approximately $98 million U.S. dollars.

Investment Details

Insight Partners spearheaded the funding round, with participation from existing investor Highland Europe. Combined with the $28 million Series A investment received in December 2018, the total funding now amounts to roughly $126 million.

According to Jakob Freund, co-founder and CEO of Camunda, the substantial investment reflects the company’s ability to address challenges extending beyond simple automation.

Beyond Basic Automation

“A larger shift is occurring, encompassing end-to-end automation or the orchestration of various endpoints,” Freund explained. “These endpoints can include RPA bots, microservices, and even tasks performed by human employees.”

Camunda, he continued, functions as an agnostic orchestration layer, integrating seamlessly with existing systems.

This capability allows for the coordination of automated components, creating comprehensive workflows throughout an organization.

Company Growth and Market Opportunity

Currently, Camunda employs 270 individuals and serves approximately 400 customers, including prominent organizations like Goldman Sachs, Lufthansa, Universal Music Group, and Orange.

Matt Gatto, managing director at Insight Partners, highlighted the significant market potential he sees for Camunda, which motivated his firm’s substantial investment.

“Camunda’s achievements demonstrate the value of an open, standards-based, and developer-focused platform for complete process automation,” Gatto stated. “It enhances business agility and improves customer experiences, enabling organizations to fully embrace digital transformation.”

From Consulting to Open-Source Software

Camunda’s origins are somewhat unconventional for a startup. The company began in 2008 as a business process management (BPM) consulting firm.

The Camunda open-source project was initiated in 2013, marking a pivotal shift towards becoming an open-source software company with a complementary commercial offering.