Berlin, September 20, 2023 – KYP.ai, the Productivity 360 plug-and-play cloud platform that provides data-driven insights for process automation, today announced the completion of a Series A investment round, bringing total capital raised to date of EUR17.5 million. The Series A round was led by OTB Ventures, Europe’s leading deeptech VC firm, and joined by existing investors 42CAP and US-based investor, Tola Capital.
Founded in 2018 and headquartered in Germany, KYP.ai applies artificial intelligence (AI) to collect and surface impactful productivity insights for leading enterprises such as DHL, Mindsprint BPS, Hollard, Qinecsa, Allied Global and Alorica to improve their top and bottom line.
The Series A investment round for KYP.ai reflects its momentum on five continents serving the technology, insurance, healthcare, utilities, business process outsourcing (BPO) and logistics sectors. The Productivity 360 platform provides organisation-wide, live visibility at scale across all business software platforms and systems, generating real-time insights to boost productivity in a challenging macroeconomic environment, saving customers on average $2.7M.
KYP.ai deploys its AI-powered enterprise software to collect organisations’ data for productivity insights on people, process and technology, resulting in ROI typically within three months. Processing high volume, real-time data, KYP.ai demonstrates a strong track record of delivering a 34% increase in process automation and 26% cost optimisation. Its software also boosts process standardisation by 78% and efficiency by 32%, representing further cost savings for customers. “By digitally capturing events data and enabling remote process discovery, KYP.ai facilitated digital value stream mapping virtually and at scale, streamlining operations and saving valuable time and resources.” says Krishna Ramkrishnan, Director & Head of Operational Excellence at Mindsprint BPS.
The new funding will support KYP’s ambitions to scale its operations in the US as well as deepening its customer base and operations in Europe, India, Singapore and China. The investment will also empower KYP.ai to promote and further expand its latest feature of GenAI opportunity identification. This cutting-edge KYP.ai add-on has already demonstrated substantial cost savings within the piloted CIO departments.
Adam Bujak, CEO and co-founder of KYP.ai, said: “Today is an important milestone for KYP.ai as we are scaling our business globally. We look forward to partnering with our new and existing investors to deliver our productivity 360 vision to customers in new markets and continue to enable business leaders to make deeply informed and responsive decisions to drive value and cost savings as they navigate the current business environment. ”
Adam Niewiński, Managing Partner and co-founder of OTB Ventures, said: “The future lies in leveraging emerging tech to measure productivity, no matter the location. That’s where KYP.ai steps in. Armed with real-time data, this AI-based platform empowers top executives to stay ahead of the competition and kick starts a productivity revolution.”
About KYP.ai
KYP.ai is a productivity 360 SaaS player, offering a cutting-edge platform that empowers businesses to unlock the full potential of their processes, people, and technology. With a multidimensional approach, KYP.ai helps companies get a 360-degree view, connecting the dots and navigate the complexities of today’s business landscape.
About OTB Ventures
OTB Ventures is a leading venture capital firm focused on DeepTech in Europe with a unique access to Central and Eastern Europe (CEE) talent pool, investing in early growth, high-tech start-ups that are developing unique and defensible technologies. OTB Ventures believes that transparent, deep and constant dialogue with Founders is essential for effectively cooperation and support. The VC fund is constantly searching for the next investment opportunity – and encourages ambitious, driven disruptors to reach out and get in touch with them. OTB Ventures was established in 2017 by Gregory Jankilevitsch, Marcin Hejka and Adam Niewinski, and is currently the largest vc originating from the CEE, managing over $300m. OTB Ventures has offices in Amsterdam (Netherlands) and Warsaw (Poland).
Find out more at www.otb.vc
About 42 Cap
42CAP are seasoned entrepreneurs turned investors. With Hybris and eCircle they previously built two of Europe’s largest B2B software companies culminating in $1.6b cash exits to SAP and Teradata respectively. The 42CAP credo Peers amongst Entrepreneurs is reflected in their investment approach, with which they support data- and technology-driven business models, product-focused founders and sustainable venture development. This background is appreciated by founder personalities, such as Nicolas Reboud (SHINE, Paris), Kristjan Vilosius (Katana, Tallinn), Gregor Stühler (scoutbee, Würzburg), Ben Askew (Packlink, Madrid), Konstantin Mehl (Kaia Health, Munich) and Alex Igelsböck (Adverity, Vienna).
Find out more at www.42cap.com as well as medium.com/42cap
About Tola Capital
Founded in 2010 by ex-software operators, Tola Capital is a venture capital firm that believes in the power of software and data to transform businesses. We provide hands-on engagement to founders who see that future and are building solutions with the potential for long-term, transformational change. Tola Capital exclusively targets software companies with essential products for enterprise customers, led by exceptional and diverse talent. Tola Capital invests globally and across multiple stages to change how the world will work.
Find out more at tolacapital.com
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