ElectroNeek raises $20 million in Series A funding led by Baring Vostok

ElectroNeek
SaaS News -ElectroNeek-raises-$20M-in-Series-A (source: SaaS Industry)
At a Glance

 ElectroNeek, a robotic process automation (RPA) platform located in San Francisco, has received $20 million in Series A investment. According to the company’s statement, this funding will help ElectroNeek attain a valuation of more than $100 million. The firm says it has 250 customers in more than 40 countries.


ElectroNeek, a San Francisco-based robotic process automation (RPA) platform, has raised $20 million in Series A funding led by Baring Vostok Capital Partners, an investment advisory firm. Other participants include YellowRockets.vc, Dragon Capital, I2BF, Angelsdeck, and Gokul Rajaram, among others. 

According to the company’s statement, this financing will help ElectroNeek reach a worth of more than $100 million. The money will grow the startup’s engineering, product, and support teams across India, North America, Latin America, Europe, and the Middle East.

ElectroNeek was founded in 2019 by four friends, Sergey Yudovskiy, Dmitry Karpov, Mike Rozhin, and Alex Astafyev, to enable organizations of all sizes to automate repetitive procedures, therefore simplifying IT procedures and lowering expenses.

Businesses can utilize the company’s products to create and deploy RPA bots for their clients. Clients can avoid paying for expensive bot licensing by replacing typical RPA suppliers. It will also assist in the automation of a variety of everyday corporate activities.

The COVID-19 pandemic has reshaped companies’ priorities. Optimizing costs and reducing unnecessary mundane work to shift focus onto key issues has become top of mind for business leaders. This is exactly what ElectroNeek has been created to help with.

Mr. Yudovskiy, co-founder and CEO, ElectroNeek,

The company claims to have 250 customers in more than 40 countries. Microsoft, Oracle, and Nvidia are among the companies it claims to have formed technological and go-to-market relationships.

ElectroNeek helps decrease entry barriers for the whole industry and encourages new RPA developers by developing an easy-to-use low-code platform, according to Maxim Loginov, partner at Baring Vostok.

As a fund with a long history of betting on underdogs turned industry trailblazers, we hope that with this new funding, ElectroNeek will now be one step closer to fulfilling its vision of bringing much-needed innovation into the RPA industry.

Maxim Loginov, partner at Baring Vostok.
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