Copenhagen, Denmark-based Leapwork, which makes workplace automation accessible, has secured $10 million in Series A funding. The investors were DN Capital and e.ventures.
LONDON + COPENHAGEN, 16 APRIL, 2019 — LEAPWORK, the company that makes workplace automation accessible, today announces a Series A investment of $10m, from DN Capital and e.ventures.
The company works with hundreds of businesses – from tier one banks and global healthcare firms, to aerospace giants and leading software companies – and plans to use the new funding, its first outside investment, to accelerate product development and expand its sales operation in the US.
Founded in 2015 and launched in April 2017, LEAPWORK grew by more than 450 percent last year. The company is transforming work on a global scale by making process automation accessible to any employee, using its entirely visual system, backed by a modern tech stack. Instead of using hours of developer time, staff can automate tasks themselves, without writing any code, thanks to the simple user interface. LEAPWORK customers are seeing an average time saving of 75 percent.
The system is as easy to learn as Powerpoint or Excel and allows clients to accomplish more with less resource, lower their costs and reduce risks. Half of all computer work is repetitive and boring, taking staff away from more productive tasks, sapping their motivation and making them more likely to make costly mistakes. The opportunity in automating these tasks is huge.
“We created LEAPWORK because we believe the future of work is using the power of automation to work better, together. This matters because it impacts us all, whether it’s by increasing our productivity or increasing our job satisfaction,” says Christian Brink Frederiksen, LEAPWORK’s CEO and co-founder. “About half of our business comes from the US and this investment will enable us to serve those customers better as well as reaching new ones.”
Claus Topholt, CTO and co-founder, says: “Our unique visual technology and smart algorithms are a game changer because they enable the users with the most relevant business knowledge to easily create automated workflows themselves, even where they personally don’t have coding knowledge.”
Though LEAPWORK is being used by clients across sectors, it has found particular traction in software testing, data migration, and robotic process automation in finance and healthcare.
Based in Copenhagen, Denmark, LEAPWORK has offices in London, UK, San Francisco, USA, Minsk, Belarus, and Gurugram, India.
Thomas Rubens, of DN Capital, says: “From the outset we were impressed by LEAPWORK’s product, which we believe will change the automation landscape. Every company has repetitive tasks that could be automated and few have the developer resource to make it happen. LEAPWORK solves that by making automation easy for any employee. We’re excited to watch them grow.”
Christian Miele, of e.ventures, says: “We felt intrigued when we first met Christian and Claus. Their vision of making it possible for non-technical people to easily automate processes convinced us right away. Given that LEAPWORK has been bootstrapped to this point and has shown massive traction at this stage of the company, we are really happy to partner with such an exceptional team.”
LEAPWORK is transforming work on a global scale. We are democratizing automation through our next generation visual language that everyone understands. Now non-technical people can easily train software robots to handle repetitive and mundane tasks. This matters because it impacts us all, whether it’s by increasing our productivity or our job satisfaction. LEAPWORK robots are used by Global2000 companies in test automation, RPA and Systems monitoring across the world and in all industries, from banks and insurance companies to life science, government and aerospace.
LEAPWORK is headquartered in Copenhagen, Denmark, and with offices in London, San Francisco, Minsk and Gurugram
About DN Capital
DN Capital is a leading early stage venture capital firm which focuses on Seed, Series A and select series B investments in marketplaces, software, fintech, consumer internet and digital health companies. The firm was founded in 2000 and has operations in London, Berlin and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (sold to Oracle), Shazam (one of the world’s leading mobile apps, sold to Apple), Auto1 (Europe’s largest used-car marketplace), Purplebricks (IPO London), OLX (sold to Naspers), Remitly (North America’s largest independent digital remittance platform) and Quandoo (sold to Recruit).
The professionals at DN Capital bring over 75 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found at http://dncapital.com
Founded in 1998, e.ventures (www.eventures.vc) is a leading venture capital fund, powered by a global network of experienced investors and ambitious entrepreneurs. Headquartered in San Francisco and Berlin, with emerging market partners in Brazil, China, and Japan, the firm invests out of dedicated funds in five geographies and combines a global investment strategy and philosophy with local presence and insights. Focused at the intersection of consumer internet and software, e.ventures partners with daring founders to disrupt global markets and build category creating companies across early and growth stages. e.ventures’ portfolio comprises various disruptive industry leaders such as Angie’s List, App Annie, Deposit Solutions, Farfetch, Groupon, and Sonos.