The global Robotic Process Automation (RPA) market size is estimated to reach $7.64B in 2028 from $1.29B in 2020, says a report. RPA is emerging as a disrupting technology across industries with the capabilities of performing an immense amount of operation in cloud and desktop environments.
At present, there are several prominent players in this sector, and Netherlands-based Redwood Software is one of them. Founded in 1993, Redwood Software aims to automate and organise business processes across hybrid IT environments.
Recently, Redwood Software raised €315M in strategic investment from growth equity firm Turn/River Capital.
Turn/River, a technology-focused growth equity firm, specialises in growth capital investments, founder liquidity, buyouts, spin-outs, and recapitalisations of technology, web, and SaaS companies.
The Dutch company will deploy the funds towards accelerating product development as it looks to meet the demand for broader enterprise automation capabilities.
Cloud automation solutions
Leveraging the low-code, cloud-based, pay-as-you-go automation platform, Redwood Software automates industrial-scale enterprise processes across infrastructure management, finance automation, automated DevOps, supply chain management, and more.
“As companies respond to recent market disruptions and invest heavily in technology to promote agility and collaboration, the growth financing from Turn/River will support the already “Rule of 60” company in advancing its capabilities to unlock new efficiencies in mission-critical business processes and deepen its leadership in evolving automation tools for the modern workplace,” says the press release.
Clients and accolades
The Netherlands company works with thousands of global enterprise customers, including Coca-Cola, GM, Halliburton, Grainger, Wells Fargo, UBS, Mercedes-Benz, Airbus, Siemens, and Heineken. Notably, Redwood was named the “Best SaaS Workload Automation Solution” in 2019 by EMA.
Tijl Vuyk, Redwood Software CEO and founder, says, “We are thrilled to partner with Turn/River. Their team’s go-to-market expertise combined with Redwood’s best-in-class technology will create a highly complementary partnership, and further our goal of bringing modern automation to every enterprise.”
Appointed new CMO
A couple of months back, Redwood Software appointed Amede Hungerford as its chief marketing officer. Hungerford, an accomplished software technology marketing executive, now leads Redwood’s global marketing team as the company expands its leadership in helping customers digitally transform their businesses with IT and business process automation solutions.