Salesforce backs Melbourne Uni spinout in $15.8 million Series B
A startup spun out of Melbourne University to help companies improve their processes has raised US$10.3 million (A$15.8m) in a Series B.
Apromore enables business teams to quickly visualise and analyse their processes to unlock value or identify strategies for transformation or optimisation. The raise was backed by Salesforce and German software vendor GBTEC, which also led a $6.8 million raise in July 2020.
The fresh funds will see the startup expand globally, alongside improving its product capabilities and product portfolio into the field of prescriptive process analytics and AI-augmented process optimisation.
The company also has a partnership with Salesforce to provide transparent connectivity between Salesforce Clouds and the Apromore process mining platform, leveraging MuleSoft technology. Its software engages in what’s known as “process mining” for users to analyse business processes and pinpoint areas of friction, inefficiency, and non-compliance. Apromore also allows companies to simulate the impact of changes to avoid any costly missteps.
University of Melbourne Professor and Apromore CEO Marcello La Rosa spend more than a decade researching business process management to develop the solution.
“As businesses look for solutions to improve profitability, customer experience, and efficient delivery to combat rising costs, process mining is providing a competitive advantage of increased agility against ongoing economic disruption,” he said.
“Combined with the investment, the partnership with Salesforce validates the need for process mining solutions that are system-neutral and can be quickly deployed to empower citizen process experts.”
Using the Apromore connector, companies can uncover the actual paths and performance of their lead-to-quote or incident management processes running in Salesforce Sales Cloud or Service Cloud respectively. Apromore also identifies customer pain points, reasons for delays and Service-Level-Agreement (SLA) violations, breaches of business policies, and other improvement opportunities.
Liam Doyle, senior vice president and general manager of automation at MuleSof,t said that for businesses to keep up with increasing customer and employee demands, accelerated digital transformation is critical.
“Salesforce Flow is an end-to-end automation platform, powered by MuleSoft, that can bring automation to any system or data source, anywhere,” he said .
“This partnership allows our mutual customers to map and analyse business processes orchestrated by Salesforce and uncover opportunities to drive business agility and efficient growth through automation.”
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