• May 22, 2024

San Francisco-based RPA startup ElectroNeek today announced it has raised a $20 million Series A funding round. The company, founded in 2018, said it has focused its platform to automate processes for managed service providers (MSPs) and IT teams.

The company has enjoyed significant growth in the past year, partly due to a pricing model that gives unlimited bot licenses to its customers for a flat fee. That enables MSPs to build and deploy RPA bots for their customers while retaining full control over the pricing of their RPA projects for end users.

“The Covid-19 pandemic has forever reshaped companies’ priorities,” said Sergey Yudovskiy, CEO and co-founder of ElectroNeek. “Optimizing costs and reducing unnecessary mundane work to shift focus onto key issues has become top of mind for business leaders. [The new funding] will enable us to bring more MSPs and companies of all sizes to the ElectroNeek hyperautomation ecosystem. This will put us at the forefront of accelerating adoption of RPA technology, allow us to create meaningful change and provide real help to companies of all sizes.”

The new cash infusion brings ElectroNeek’s total raised to nearly $24 million. The round was led by Baring Vostok with participation of AICPA and existing investors YellowRockets.vc, Dragon Capital, I2BF, Angelsdeck, Gokul Rajaram and others.