14 September 2018
CapMan Growth portfolio company Digital Workforce raises €3 million in funding for cognitive solutions and overseas expansion
Digital Workforce, the Nordic’s fastest growing intelligent automation company currently employing 175 people, announced it has raised €3 million in funding round from existing investors. The funds will be used to further develop the company’s Digital Worker cloud platform making cognitive technologies easily available and to enable international expansion overseas.
Since its beginning Digital Workforce has been transforming business processes with the help of Digital Workers, powered by Robotic Process Automation. The company has automated over 800 processes and demonstrated that there is massive ROI in automating rule-based knowledge work tasks in large organisations across industries. Through machine learning and other artificial intelligence technologies organisations can automate even more complex tasks, and utilise also unstructured data, such as speech, images, text and sensor data as data source.
“Cognitive technologies will have a gigantic impact on business processes, both in bringing more efficiency and in generating something completely new. Our target is to extend our innovative, flexible and cost-effective cloud to cover also selected cognitive technologies. By making Intelligent and Learning Digital Workers easily available our customers can rapidly benefit from these ground-breaking technologies in addition to RPA”, said Heikki Länsisyrjä, one of the founders of Digital Workforce.
“The development and growth of Digital Workforce into the leading intelligent automation service provider has been astonishingly rapid. The company is a prime example of a well-managed growth company, where targets have been established at a sufficiently high level starting from day one. Already now, the company employs the largest number of certified intelligent automation specialists in Northern Europe, who have the capabilities to work in a challenging international environment. The market is growing rapidly and the team’s practical take on cognitive technologies is developed in a manner that quickly results in added value “, said Juha Mikkola, Managing Partner, CapMan Growth.
Digital Workforce operates currently in Finland, Sweden, Norway, Denmark and Poland. With the investment the company is also investigating growth opportunities in new potential markets.
The investors in the round are the CapMan Growth Fund along with earlier seed investors Leena Niemistö and Lifeline Ventures.
Additional information:
Juha Mikkola, Managing Partner, CapMan Growth, Tel. +358 50 590 0522, juha.mikkola@capman.com
CapMan Growth is the partner for growth companies seeking capital and know-how for growth and M&A activities. CapMan Growth makes only minority investments in both private and public companies that operate in sufficiently large markets and are able to leverage their innovative services and solutions both in Finland and internationally. Our investment criteria further include professional and committed management, innovative service/product, proven business plan, growing revenues, significant market potential and unique competitive advantage. The objective of Growth investment activities is to find unlisted target companies with the potential to grow rapidly, to make significant minority investments in them and, as an active investor, to develop their value so as to achieve returns in excess of the market average through long-term ownership. Our recent investments include Arctic Security Oy and RealMachinery Oy.
