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The emergence of artificial intelligence has created massive popularity of adopting automation in multiple industries across the world. Investors are instigated to invest millions of dollars in different automation start-ups to boost the efficiency and performance of companies. The main aim of these automation start-ups is to enhance the standard of living of society including employees and customers. Automation funding as well as automation investments are thriving in the global tech market with multiple seeding rounds like Series A, Series B, and many more. The global automation market is expected to hit US$355.44 billion in 2028 with a CAGR of 9.2%. Let's explore some of the biggest automation investments and funding of 2021.
Posh Technologies has received one of the biggest automation investments in 2021 with US$27.5 million automation funding. This automation startup is focused on conversational AI and natural language processing technology. It has received this automation funding from Series A from Canapi Ventures with additional investments in product research and development.
Torq has raised US$50 million in Series B automation funding as one of the biggest automation investment of 2021. Torq is known as the Portland-based no-code automation platform for security teams and the total funding value has led to US$78 million. This automation investment is led by SentinelOne, GGV Capital, and Bessemer Venture Partners. It will utilize the amount to boost expansion to meet demand from customers and manage security service providers.
Celigo has secured one of the biggest automation investments of 2021 with US$48 million in Series C from OMERS Growth Equity and NewSpring Capital. The aim is to spend this automation funding on improving business automation for mid-market companies and go-to-market capacity. This automation start-up is popular for being the only iPaaS company to deliver prebuilt business process automations with embedded business logic.
Tipalti has raised intelligent automation investment worth US$270 million as an accounts payable automation start-up. It received this automation funding in Series F and the total valuation has reached US$8.3 billion. This automation start-up utilizes artificial intelligence to help businesses manage suppliers, invoices, payments, and many other financial services from one cloud platform.
Pento is a popular automation start-up known for creating a payroll automation software has received US$35 million in a Series B from Tiger Global Management and Avid Ventures. The SaaS offering is fully automated for the payroll managers and finance teams to have more control and visibility.
Virtuoso has secured US$13.3 million in a Series A automation funding from Paladin Capital, Mubadala Capital, Crane Venture Partners, Forward Partners, and Downing Ventures. This automation start-up is focused on delivering codeless test automation to CI/CD through natural language interface. It leverages RPA to simplify the quality assurance process of testing software deployments.
Workato has nabbed one of the biggest automation investments and funding of 2021 with US$200 million in a Series E automation funding to boost record growth as well as capitalize on the increasing demand for enterprise automation. This automation investment was led by Battery Ventures, Insight Partners, Altimeter Capital, and Tiger Global.
WorkFusion has successfully raised US$220 million to scale its growth in intelligent automation. This is one of the biggest intelligent automation investments of 2021 in a Series F automation funding from Georgian. This funding will help to boost its leadership trajectory in the world's fastest-growing software segment. The intelligent automation software helps in automating industry-specific manual operations to solve complex business problems efficiently.
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