Tech Funding Recap for June 2, 2021

Technology is booming. Companies are keeping up by raising funds to create cutting edge products that will meet demands.

Creatio and Avid Ventures are two firms that have reached their campaign goals in recent months. Read on to find out how they will be using the money they raised.

Creatio

Automation is where it’s at. Creatio provides useful automation technology with a low code studio that allows businesses to automate any of their internal processes through a drag and drop interface. Menial tasks that include anything from onboarding to emailing to uploading documents can be done with the click of a mouse with the Creatio platform.

Creatio integrates with external tools like Microsoft Exchange, Excel, Google as well as social media networks, productivity tools and advanced templates. It also allows businesses to customize their own integrations with third party apps.

The company is on the pulse of technology as the process automation space is growing in leaps and bounds. Growth has increased even more due to the pandemic which boosted a reliance on all things digital.

There are several companies following in Creatio’s footsteps including the German-based process automation startup Next Matter which just announced plans to expand in the United States.

Microsoft is also upping its game announcing a new process advisor tool that identifies automation potential and expands on the platform’s existing RPA toolset.

Creatio has grown exponentially considering it has not relied on any external funding. The company recently closed a $68 million round of funding which they will use to build aggressively with plans to invest in marketing, sales and R & D.

Avid Ventures

Avid Ventures is a female owned company that takes a unique, hands on approach in boosting the growth of transformative companies. They make small initial investments and work alongside companies helping them to develop and invest more as they grow. They offer strategic finance support and work as a member of their partner’s teams.

Avid was founded by Addie Lerner, a former investor at large firms including Goldman Sachs, General Atlantic and General Catalyst. She teamed up with Tali Vogelstein, a former investor at Bessemer Venture Partners. Vogelstein was responsible for much of Avid’s early-stage investments.

Lerner is interested in taking on a role of external chief financial officer with the companies she invests in. She wants to form a deeper relationship with her partners in comparison to what’s considered practical at other venture firms.

The company has limited partners that include entrepreneurs, investors and strategic founders, 40% of whom are female. They specialize in everything from pre-series A rounds to series B rounds and have invested in many female-owned companies in the credit, healthcare brokerage, coworking, mortgage and identity verification industries.

Previous investments include $450 million which was essential in the growth of software, consumer internet and fintech companies throughout Europe, North America and Israel.

Avid recently completed a $68 million funding round. The money will be used to continue investing in companies and increasing growth. Although some of the money will be used during the small investment A series stage, most of it will be dedicated during the B series as companies are better targeted for growth.