Wednesday, August 5, 2020
News
NEWS HOME
PRN INDIA
Open-source process mining vendor Apromore raises AU$6.84 million in Series A funding
  SocialTwist Tell-a-Friend  
   

MELBOURNE, Australia, July 7, 2020 /PRNewswire/ -- Apromore, the leading developer of open-source process mining technology, today announced it has raised AU$6.84 million (EUR 4 million) in a Series A round led by German business process management specialist GBTEC. The Series A round also involved investment from Melbourne-based consulting and technology firm Leonardo and The University of Melbourne, which helped to incubate Apromore prior to spin off.

From left: Prof Marcello La Rosa - CEO and Co-Founder,  Prof Marlon Dumas - Partnerships and Co Founder, Dr Simon Raboczi  - Chief Architect and Co-Founder and Dr Ilya Verenich – Chief Data Scientist and Co-Founder.

The Series A investment will allow Apromore to strengthen its product development capacity and to expand into the realm of AI-driven automated process improvement, including robotic process mining, prescriptive process analytics, and automated decision optimisation. According to Gartner's 2019 Market Guide for Process Mining: "[Apromore] focuses significantly more than its competitors on intelligent support for model enhancement, and on predictive analytics."[1] It is anticipated the investment will allow Apromore to build on its success to date and further solidify its market position.

Apromore's CEO, Prof. Marcello La Rosa, highlighted that "Apromore inherits a decade of R&D in the field of business process management and process mining, and we have packed the most advanced algorithms for process mining into Apromore's products. This investment will allow us to maintain our competitive advantage, by incorporating the latest research and innovations in the field of AI-driven automated process improvement into our product. It will also allow us to continue pursuing our mission of democratising process mining via a commercial open-source business model."

The investment is coupled with a strategic partnership with GBTEC. The partnership will see GBTEC offering Apromore's process mining technology as a core component of its BIC Platform for business process modelling and automation.

Commenting on the investment and the strategic partnership, GBTEC's CEO, Gregor Greinke, said: "The integration of Apromore into the BIC Platform will provide a one-stop shop for companies seeking to accelerate their digital transformation journey with full-lifecycle process optimisation. The analytics capabilities that Apromore brings into the BIC Platform are truly exceptional when it comes to identifying underperforming processes, rework loops, waste, and bottlenecks. By joining forces, we are certain to establish one of the best analytics and AI-driven process optimisation tools on the market."

Leonardo's Managing Director Adam Mutton also commented on Apromore's potential: "Apromore is leading the way in innovative AI-driven process improvement – from automated discovery of actual as-is processes, to predictive process modelling based on live data to future directions involving integrated robotic process discovery, scripting and automation. Clients are excited by the ability to dramatically reduce discovery and analysis time, rapidly analyse large data sets and drill to specific issues and root-cause analysis to determine the highest priority improvements.

Prof. Mark Cassidy, Dean of Melbourne School of Engineering, also added, "This is a clear demonstration of the strong commitment of the University of Melbourne's School of Engineering to turn world-class research into commercial innovation." Prof. Uwe Aickelin, Head of the School of Computing and Information Systems, added: "This successful spinoff is testimony to the quality and relevance of the research conducted in our school, and accentuates our position as a world-class hub for computing research".

Apromore is the result of over a decade of extensive research and innovation at The University of Melbourne, University of Tartu (Estonia), and other research institutions across the globe.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Apromore Pty Ltd
About GBTEC Software + Consulting AG
About Leonardo
About The University of Melbourne

Contact:
Marcello La Rosa
Tel.: +61 3 8344 9887
E-Mail: info@apromore.com

Photo - https://mma.prnewswire.com/media/1199915/Apromore_Founders.jpg

More News by PR Newswire India

Edelweiss Tokio Life - Active Income Plan: A Three-Generation Income Solution

ONE Championship Lands in Top 10 in Facebook Engagement Among Global Sports Properties

NTT Ltd. Acclaimed by Frost & Sullivan for its Comprehensive Intelligent Solution Suite for Enterprise Systems Integration

Malibu & DJ Dillon Francis Remix an Internet Sensation into a Summer Anthem You Can't Ignore

The Point-of-Care Ultrasound Certification Academy announces Doctors Without Borders as MissionPOCUS selection for 2020

Perfect World CEO Dr. Robert H. Xiao: Content Consumption to Change Dramatically Thanks to 5G

Perfect World CEO Dr. Robert H. Xiao: the COVID-19 pandemic will stimulate new growth across the e-sports industry

Cordico Announces Exclusive Partnership With 'Emotional Survival' Author Dr. Kevin Gilmartin

CFA Institute to Transition to Computer-Based Testing For All Levels of the CFA® Program in 2021

CoinLock Launches Netflix-Like Annual Subscription Model to Buy or Sell Bitcoin, Providing Members with Unlimited Trading Capacity and Saving Them Millions in Fees.

Lighting Industry Leaders Join Forces to Offer Ultraviolet Light Safety Guidance

Connected for Better: AACSB's Focus on Positive Societal Impact

Suresh Raina, Yuzvendra Chahal, Parthiv Patel & Pathan Bros join hands with Amitabh Shah's Yuva Unstoppable & Vedanta Limited

Philips Audio expands its product portfolio on Amazon Prime Day Sale

Gramercy Statement on Agreement Between Argentina and its Creditors

A Doctor from Visakhapatnam Wins ₹50 Lakhs in Junglee Rummy's RPL 8 Tournament

Kajal Agarwal takes her stance on #VocalforLocal - KhelPlay Rummy

OSH India Virtual Expo: A virtual initiative to create and sustain awareness for Occupational Safety and Health

Goodknight Fabric Roll-On vows to protect children in their indoor playgrounds in a new digital film

World Federation of Hemophilia (WFH) publishes "The WFH Guidelines for the Management of Hemophilia, 3rd edition"

Edtech venture GlobalShala aims to cultivate design thinking, entrepreneurship, and innovation to solve global challenges highlighted in United Nation's SDGs through the launch of their 'Superhero U' competition with prizes worth $90,000

Godrej & Boyce sees growth in precision engineered equipment as 'Make in India' policy gathers momentum

Staying the Course: Golden Agri-Resources' latest Sustainability Report highlights continued commitment to responsible production

Panchshil Realty's Office Portfolio First in APAC to Meet British Safety Council's Global Benchmarks for COVID-19 Related Control Measures

IIIT Hyderabad to Conduct Course on Online Pedagogy

Bank Alfalah and TerraPay to Launch Home Remittance Service to Pakistan

iHerb Announces Major Enhancement to iHerb's Popular Rewards Program

Airtel Selects Ribbon's 5G-Native Neptune Platform to Upgrade its Packet Transport Network

BNI® Global Announces Partnership with JCI, Enhancing Support to Global Business Professionals & Economies

Announcing World Food Travel Market

MSRCosmos Has Earned the SAP on Microsoft Azure Advanced Specialization Status

Shanghai Electric has been awarded EPC contract for 5th phase project of Dubai solar park

TB Alliance Announces European Commission Authorisation of New Treatment for Highly Drug-Resistant Tuberculosis

SIRUI, a Camera Accessories Manufacturer, Released Its 35mm f/1.8 1.33x Anamorphic Lens on INDIEGOGO August 3, 2020

GlobalData Ranks Ribbon the Leader in Network Slicing In 5G Transport Competitive Landscape Assessment

CIFF Guangzhou 2020 Successfully Concludes: Striving to Drive Steady Growth Across the Industry During the Pandemic

Cruise with confidence on Jalesh Cruises from 6th November 2020

GranBio and NextChem sign partnership to develop cellulosic ethanol market

Huawei Announces Global Rollout of New Device Gaming Hub - HUAWEI GameCenter

Flowhaven Opens London Office, Announces 2020 Momentum

Chandigarh & Mohali Housing Demand will get a boost due to Reverse Migration, opines Family Nest Real Estates Private Limited

Bank of Baroda Credit Card offers EMIs on PoS Terminals in partnership with Innoviti

Macrogen Obtains Europe's CE-IVD Certificate for its COVID-19 Test Kit

USGIC Launches India's 1st AI-powered Conversational Agent for Motor Insurance

Colliers International Appoints Subhankar Mitra as Managing Director, Advisory Services (India)

New Genesys Cloud Integration with Microsoft Teams Drives Productivity and Collaboration

FoodServiceDirect.com taps Unbxd's AI to power digital transformation across B2B and B2C

Pinterest Announces Update to Videos to Inspire Audiences in India to take Action on Ideas

CrowdPouch raises Angel Round from Elina Investments

JA Solar Supplies Modules for Malaysia's First Bifacial-Plus-Trackers Project

BowerGroupAsia Welcomes Ratan Shrivastava as new Managing Director for India

New Clinical Trial Reports Reduction in COVID-19 Hospitalization Days by 28%

Cision Publishes State of the Press Release, Uncovering How Communicators Can Create More Effective Press Releases

Growing number of patients choose COVID home care from RxDx clinics, Bengaluru

MIT-SDE Becomes the First Indian Institute to Collaborate with LinkedIn Learning

BC Cricket Championship: A thrilling and an exciting action packed August awaits for millions of cricket fans as Cricket comes alive in Canada

CGTN:Why Chinese military enjoys extensive support from the people

Rihanna Launches Fenty Skin

Zinnov Awards 2020 recognizes the Titans in Tech, individuals, and organizations who have become synonymous with excellence in the GCoE ecosystem

CGTN: Decoding China's vision for new era world-class army

LANXESS disinfectant kills coronavirus SARS-CoV-2 in just 60 seconds

Cosmoprof India and Personal Care Ingredients & Lab 2020 Present Their New Digital Events

India lays out the red carpet for Italian companies to 'plug and play' in its food parks

NTTF Joins Hands with Skanray to offer great opportunity to get Post Graduate Diploma in Medical Technical Field with Industry attachment

Epic Seven Releases New Limited Hero "Holiday Yufine"

Magical Mangroves: A nationwide campaign for mangrove awareness launched by Godrej & Boyce and WWF India

Mukta Kumar from Konnections IMAG receives 'Entrepreneur of the Year' Award at the 1st Edition of Exchange4media Women Achievers Summit and Awards 2020

ICFAI Business School (IBS) Announces IBSAT 2020 MBA Entrance Exam For Students Seeking Admission For MBA Courses

OKEx's Adopted Utility Token OKB Adds Value for Holders with Four New Partnerships

Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C - a CtrlS Company, as a Strategic Advisor

Sir Ivan's $10,000 MegaMix Competition Helps Out-of-Work DJs Around the World

Angostura Launches Latest Innovation-Cocoa Bitters

PRINT Awards 2020 Call for Entries Announced

Delta Controls' Exceptional Growth Diversification and Technology Development Merit Frost & Sullivan Company of the Year Award

Frost & Sullivan: Proliferation of Edge Computing and Testing M2M Solutions to Drive IoT Test and Measurement Market by 2025

Mobile Field Service Management Market in North America Set to Surpass $4 Billion by 2025

Red Box Fuels AI-powered Insights Through Integration with Salesforce Einstein Call Coaching on Salesforce AppExchange

LimaCorporate Is The First Italian Company To Obtain The EU Quality Certificate Under The MDR

Premium Networks Build Differentiated Competitiveness for Carriers

Hikvision releases 2020 H1 financial results

Single Dose of Johnson & Johnson COVID-19 Vaccine Candidate Demonstrates Robust Protection in Pre-clinical Studies

'Tim Tim Tare' Enlightens Lives of Children

Bright Pattern Launches AI-Powered Omnichannel Communication Interaction Platform for Service Management

THOMAS SABO presents the new Charming Collection

INC Interviews Leadership Team for Insights into COVID-19 and the Nut and Dried Fruit Industry

Industrial and warehousing sector has witnessed investment inflows of USD3.7 billion, since 2017: Colliers International

MagniProtect by Magniflex: the world's first antiviral sleep collection tested against COVID-19 is Made in Italy

From The Alzheimer's Association International Conference 2020: Alzheimer's Risk Factors May Be Measurable In Adolescents And Young Adults

World-class dental clinic, The Dental HQ, opens in Juhu

Major HORIBA Launch as Virtualising RDE Development Offers $17m Savings

Vieworks to reinforce its portfolio with superfast 16k TDI Line Scan Camera

How CommonLook's Expertise Helps Google With PDF Accessibility

Direct Biologics Receives FDA Approval to Initiate 'EXIT-COVID-19,' a Phase II Investigational New Drug Trial

Benigna Parfums releases Trio of Joyful Fragrances as part of a New Luxury Niche Fragrance Brand. A brand that focuses on gender-neutral and transformative scents.

Siemon Supports Single-Pair Ethernet with TERA® Cabling

From The Alzheimer's Association International Conference 2020: The Impact Of COVID-19 And The Global Pandemic On Alzheimer's Research, Long-Term Care And The Brain

Kevin Hart x The Emirates Team Up to Make 5 Lucky Contestants' Dreams Come True With Global #MarsShot Campaign

Compuware Named to Fast Company's Second Annual List of the Top 100 Best Workplaces for Innovators

Announcement of New Education Policy is a visionary and game changing reform which will make India a Global Knowledge Superpower, says Education Fraternity of Punjab

SEKISUI Diagnostics Invests £14.4 Million in cGMP Biopharma CDMO Capacity

TAICCA and CATCHPLAY Announce Joint Investment in SCREENWORKS ASIA to Build Taiwan's Content Powerhouse

Frost & Sullivan Identifies New Growth Opportunities in a Contracting Global Economy

Simplilearn Named Training Industry Magazine Top 20 Online Learning Library Company for 2020

Consulcesi: "Covid-19 The Virus Of Fear" An Italian Movie Regarding The Lesson Learned From The Pandemic

Huawei's Catherine Chen: Shared Responsibility for a Shared Future

ZTE and True Corporation announce collaboration to build a commercial 5G network in Thailand

UST Global Invests in Smart Software Testing Solutions Inc. to reimagine the future of Software Validation and Test Automation

IBM Report: Compromised Employee Accounts Led to Most Expensive Data Breaches Over Past Year

KrishiDirect: Farmers Market Turns Online for Convenience of People in Bangalore

CIGNEX Datamatics Honored With UiPath's Partner Excellence Awards 2020

Dow honored with two illustrious wins at the 2020 Ringier Technology Innovation Awards

The Future of Sustainable Packaging: Dow introduces INNATE™ TF Polyethylene Resins for Tenter Frame Biaxial Orientation

Casio to Release G-SHOCK × Rui Hachimura Collaboration Model

From the Alzheimer's Association International Conference 2020: a Blood Test for Alzheimer's? Markers for tau Take us a Step Closer

Five Arrows Acquires Majority Stake in Leading Emergency Preparedness & Response Software Business

CPS Energy To Add Historic Amount Of Renewable Energy To Portfolio

NIIT Technologies Q1 FY'21 revenue up 10% YonY

CES 2021 Moves to an All-Digital Experience

Global Semiconductor Packaging Materials Market to Reach $20.8 Billion by 2024, SEMI and TechSearch International Report

Supermicro and Scality Collaborate to Simplify Deployment of Enterprise Software Defined Storage

Fisker Inc. Announces Board Of Directors

Nexteer Releases 2019 Sustainability Report

Jubilant Biosys Limited announces the merger with Jubilant Chemsys Limited

A-Class Marble bringing in 50 years of expertise in the marble Industry

Azure Power Awarded Most Sustainable Company in the Solar Energy Industry as Part of World Finance Magazine's Sustainability Awards 2020

Freedom Healthy Cooking Oils Launches a campaign #Immunity begins in the Kitchen

U.S. Polo Assn. Announces Sponsorship of the Illustrious 120th Silver Cup®

Saudi Arabian Airlines (SAUDIA) Selects Comarch as its Loyalty Management Technology Provider

American Wave Machines Announces PerfectSwell® Boa Vista in São Paulo

OKEx Launches Its 3rd Elite Team Trading Contest with a 150,000 USDT Prize Pool

Bright Pattern Contact Center Chosen by Everise, Next-Generation BPO for Innovative High-Growth Companies

UiPath Unveils Winners for Maiden Edition of the Partner Excellence Awards

Canon India sets an Industry Benchmark by Taking its Services Mobile

IDFC FIRST Bank opens MBA Scholarships for 2020-2022 batch

Huawei's Ryan Ding: Unleash Network Potential, Inspire Business Growth

Vogue Institute of Art and Design curated 40 industry webinars with design leaders

PayU Rolls out UPI AutoPay feature For Subscription Payments

Paralyzed man walks after 11 years with the help of Plexus Neuro and Stem Cell Research Centre, Bengaluru

42Gears COO Prakash Gupta accepted into Forbes Technology Council

Microland featured among Top 25 Transformative case studies in the New ISG Book on Digital Excellence

Celebrities from the catwalk, the kitchen, and the recording studio honor global warming projects at 2020 Keeling Curve Prize awards ceremony

After More Than A Year of Legalization, Ordering Weed Online is Easy With Blowout420

GivePower Deploys Solar Water Farms in Kenya and Haiti

Geltor Raises $91.3M as Pandemic Exposes Need for Sustainable Protein Supply Chain

Shanghai Electric Shares China's Wind Power Market Outlook in talk with Bloomberg NEF

KIIT Deemed to be University Announces Free Education for Children of COVID Deceased in Odisha

Industry Expert Launches the Ultimate Tourism Directory

FLEXIM's FLUXUS 721XLF - The Superior Solution For Liquid Low Flow Measurement

Global Healthcare Interoperability Market to Witness Nearly Two-fold Growth by 2024

Supermicro Unveils New Generation Top-Loading Storage Systems for High-Capacity Cloud-Scale Deployments

New Legal Analysis: Dams That Threaten the Source of the Amazon Can't Legally Be Built

Huawei's Guo Ping: Unlock the Full Potential of 5G to Drive Commercial Success

Canada Nickel Launches Wholly-owned NetZero Metals Inc. to Develop Zero-Carbon Production of Nickel, Cobalt and Iron

IT Company Birlasoft inks MoU with Chandigarh University to enhance employability skills of the Engineering Students

Johnnie Walker Looks to the Next 200 Years of Scotch: Whisky maker launches four exclusive 200th anniversary releases to celebrate key milestone

From The Alzheimer's Association International Conference 2020: Flu, Pneumonia Vaccinations Tied To Lower Risk Of Alzheimer's Dementia

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Constable among 5 from Delhi Police fami...
'Announce financial package on the occas...
Grand foundation stone-laying ceremony o...
Javadekar launches 24x7 Doordarshan Assa...
Kerala gold smuggling case: NIA arrests ...
Oppn appeals to Goa CM for aid to those ...
More...    
 
 Top Stories
Covid-19 deaths in Brazil top 95,00... 
Punjab CM congratulates all for 'hi... 
Selena Gomez's 'Rare' make-up brand... 
Centre accepts Bihar govt's request... 
Russia's Emergencies Ministry sends... 
Andhra govt inks MoU with ISB to dr... 
Bombay HC adjourns hearing on plea ... 
Five staffers of Dutch Embassy inju...