RPA and intelligent document processing services provider qBotica has received $1 million in seed funding. The Phoenix-based company says it will use the cash infusion to expand its RPA-as-a-Service solutions, hire more employees and seek out new distribution channels.
Founded in 2017, the company offers RPA and IDP services in partnership with UiPath, ABBYY, Microsoft Azure and AWS, and says it has several Fortune 500 customers. It is the first investment by early-stage investment firm Peacock Ventures – itself a startup.
“qBotica’s thesis focuses on opportunities to leverage Artificial Intelligence to increase value and decrease costs,” said Rohit Reddy, a founding member of Peacock Ventures. “We expect the RPA market to continue to grow at a compounded annual rate of 55 percent over the next four years and qBotica is well positioned, under Mahesh’s leadership, to capture more of this growing market. We have tremendous confidence in the passionate product and sales team members to continue to pierce through new clients and deliver this amazing software solution. We are thrilled to be a part of it.”