Home Breaking News Germany based start-up Camunda raises USD 98 Million

Germany based start-up Camunda raises USD 98 Million

Automation platform

Berlin, Germany based start-up Camunda has raised USD 98 Million on 22 of March, 2021 in Series B funding round led by Insight Partners along with some previous investors. The company has raised a total of USD 126 Million in funding over 3 rounds.

Investor: The acquisition of USD 98 Million took place in a Series B funding round led by Insight Partners along with some previous investor Highland Europe.

What the funding is for: The company took the last fundings at the end of 2018 because the market was beginning to catch up with the new ideas. According to sources, the fresh fundings would be utilised to increase the growth of the organization globally as the process of automation continues to flourish.

Founder of the company: Bernd Ruecker and Jakob Freund

Founded date: March 18, 2021

About the company: Camunda is a privately held organization which is  known as a developer of an open- source workflow and decision automation platform. The company operates under Enterprise Software and Information Technology industries. They have a work strength of approximately 251 – 500 employees with 400 customers like Goldman Sachs, Lufthansa, Universal Music Group and Orange. It also deals with various specialties like IT consulting, Software Vendor and JavaScript.

What the CEO has to say: “The company is solving a problem that goes beyond pure automation. There’s a bigger thing going on which you could call end -to- end automation or end – to – end orchestration of endpoints, which can be RPA bots, for example, but also micro services and manual work.”

Camunda is not a typical startup. It’s history actually dates back to 2008 as a business process management (BPM) consulting firm. It began the Camunda open source project in 2013, and that was the start of pivoting to become an open source software company with a commercial component built on the top of that.

“Camunda has become this endpoint agnostic orchestration layer that sits on top of everything else. That means that it provides the ability to orchestrate how the automation pieces work in conjunction with one another to create this full workflow across a company.” — Jakob Freund, CEO of the company.

What the investors have to say:

“Camunda’s success demonstrates how an open, standards -based, developer friendly platform for end to end process automation can increase business agility and improve customer experience, helping organizations truly transform to a digital enterprise.” — Matt Gatto, Managing director at Insight Partners.

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