AI for Workflow Automation

2023. AI-based Workflow automation startup Parabola raises $24M



Parabola, a startup that utilizes artificial intelligence to streamline administrative tasks, especially in the logistics and e-commerce industries, has recently announced securing $24 million in a Series B funding round. With the Parabola platform, users can expedite the processing of various types of documents, including PDFs, text message logs, images, and emails. Parabola offers functionalities such as standardizing, enriching, and categorizing these documents. For instance, given a list of product names, Parabola can categorize them based on specific departments like "clothing," "home goods," "grocery," and "electronics." It can also ensure consistency in invoice formats and extract relevant information such as the amount, due date, sender details, and line items, organizing them into a table. Additionally, the platform can analyze Amazon keyword rankings within a specified timeframe, allowing e-commerce teams to optimize their product listings.


2022. Bardeen raises $15.3M for browser-based workflow automation



Bardeen, a startup specializing in workflow automation, has successfully raised $15.3 million in funding. The company addresses specific challenges in the realm of automation, with a primary focus on enhancing user experience and facilitating the discovery of automation solutions. Bardeen holds a significant advantage by operating directly within the user's browser, leveraging edge computing for data processing and storage. This approach ensures that all operations take place locally, within the user's browser environment. Additionally, Bardeen incorporates AI modules for tasks such as text-to-speech, optical character recognition, and Smart Suggestions. Smart Suggestions is a distinctive feature that recommends relevant automations to users based on their current context. The company aims to continually improve Smart Suggestions, enabling it to learn and suggest any automation that can effectively save time for the user.

2021. DeepSee.ai raises $22.6M for its AI-centric process automation platform



DeepSee.ai, a startup that has secured a Series A funding of $22.6 million, specializes in assisting enterprises in leveraging AI for automating line-of-business challenges. The company presents a distinct approach to process automation, differentiating itself from the prevailing industry term "robotic process automation" by promoting "knowledge process automation" (KPA). DeepSee.ai asserts that while current bots primarily focus on basic task automation, they fail to provide the profound insights that advanced machine learning models can deliver. The company emphasizes that its goal is not to replace knowledge workers but to empower them with AI tools to transform the vast amount of data collected by businesses into actionable insights.


2020. Salesforce applies AI to workflow with Einstein Automate



Salesforce has unveiled Einstein Automate, a new collection of workflow solutions powered by artificial intelligence (AI). Einstein serves as Salesforce's AI platform, encompassing all aspects of the company's product portfolio. It introduces automation to various tasks and simplifies the process of extracting valuable customer information, which often gets buried within vast amounts of data. Furthermore, Salesforce is incorporating MuleSoft, an integration company it acquired for $6.5 billion in 2018, into its offerings. This integration enables IT professionals to effortlessly build intricate connections between applications across the enterprise and the Salesforce suite of products, enhancing processes like mortgage approval workflows and more.


2020. Hypatos gets $11.8M for a deep learning approach to document processing



The process automation startup Hypatos, with operations in Germany and Poland, has successfully raised $11.8 million in a seed funding round. Hypatos leverages language processing AI and computer vision technology to accelerate the processing of financial documents for various business use cases, including invoices, travel and expense management, loan application validation, and insurance claims handling. The company boasts an extensive training dataset comprising over 10 million annotated data entities. Hypatos' utilization of deep learning technology enables a comprehensive understanding of document content, allowing them to offer customers a complete automation solution that encompasses document classification, information extraction, content validation, and data enrichment.