camunda snares $98m series b as process automation continues to flourish
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.
Future Plans
The company secured funding in late 2018 as market awareness of their approach grew, allowing them to capitalize on emerging opportunities.
Camunda currently operates with positive cash flow and intends to utilize the new funding to further accelerate its business expansion.
Ron Miller
Ron Miller's Background in Technology Journalism
Ron Miller has a distinguished career as a journalist specializing in the technology sector. He most recently served as an enterprise reporter for TechCrunch, covering significant developments within the industry.
Early Career and Editorial Roles
Prior to his role at TechCrunch, Miller dedicated a substantial period as a Contributing Editor for EContent Magazine. His expertise was regularly featured in this publication.
Throughout his career, he has also contributed consistently to several other prominent technology publications.
- CITEworld was among the platforms where his insights were regularly published.
- He was a frequent contributor to DaniWeb, offering valuable perspectives on web development and technology.
- TechTarget also benefited from his reporting and analysis.
- Miller’s work appeared in Internet Evolution, focusing on the changing landscape of internet technologies.
- Furthermore, he contributed to FierceContentManagement, a resource for content management professionals.
Professional Disclosures
It is important to note Miller’s previous corporate blogging role at Intronis. During this time, he authored weekly posts addressing relevant IT concerns.
He has also provided content for various corporate blogs throughout his career, including:
- Ness
- Novell
- The IBM Mid-market Blogger Program
These engagements demonstrate his ability to communicate complex technical information to a broad audience, while maintaining objectivity and insight.