Redwood software raises $379 million from growth equity firm Turn River Capital

SaaS News -Redwood-Software-raises-$379M(source: SaaS Industry)
At a Glance

Redwood Software, a cloud-based business and IT process automation solutions provider, has announced a €315 million ( approx. $379.97 million) strategic investment from growth equity firm Turn River Capital. The funds will be used to accelerate product growth as it seeks to expand its client base, said Redwood. This is the first external financing of the company. 

Tijl Vuyk, founder and CEO, said that Redwood initially started out in the application space building Oracle applications. 

Over time, as we saw an increased need from our customers to automate many of the manual processes, we pivoted to automate everything we could. If there is a process where someone has to complete an activity twice, we find a way to automate as much of the activity as possible, all without leaving customers with a huge spend on services and maintenance.

Tijl Vuyk, founder and CEO

Redwood has a task catalog that allows you to piece together various based jobs in a workflow. The software analyses table configurations incorporate resource planning applications, other internal data, and metadata to replicate current workflows. Customers can connect and assemble processes using Redwood’s orchestration engine, which stitches them together. When human approvals and review cycles are needed, the platform will mix elements automatically.

Due to the breadth of our technology portfolio, which spans workload automation, finance automation, and enterprise reporting, we are seeing more and more customers coming to Redwood in search of robotic process automation alternatives, which can provide the scale and flexibility that they demand.

Tijl Vuyk, founder and CEO

Redwood, headquartered in the Netherlands, was founded in 1993 with the goal of orchestrating and automating business processes through hybrid IT environments. GM, Guess, Wells Fargo, UBS, Mercedes-Benz, Airbus, Siemens, Coca-Cola, and Heineken are among the company’s 3,000 corporate clients in over 150 countries.

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