Country for PR: China
Contributor: PR Newswire Asia (China)
Tuesday, July 07 2020 - 09:30
AsiaNet
Open-source process mining vendor Apromore raises AU$6.84 million in Series A funding
MELBOURNE, Australia, July 7, 2020 /PRNewswire-AsiaNet/--

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.

Photo - https://photos.prnasia.com/prnh/20200702/2847280-1 
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 modeling 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(https://apromore.org/about/) 
About GBTEC Software + Consulting AG(https://www.gbtec.com/company/)
About Leonardo(https://www.leonardo.com.au/about)
About The University of Melbourne(https://about.unimelb.edu.au/)

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

[1] 
https://www.gartner.com/en/documents/3939836/market-guide-for-process-mining 

SOURCE: Apromore

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=366694

   Caption: 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.

Attachments
Apromore-Founders.jpg
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