Round2 Capital led the $20 million equity and debt funding round for the business automation platform EvoluteIQ, with Nordea Growth Fund, DCAP Select, and PH Ventures also participating. A press release states that the money will be utilized to support international growth and improve EvoluteIQ’s AI automation platform.
EvoluteIQ, which was founded in 2019 by Sameet Gupte, offers a low-code/no-code end-to-end automation platform driven by AI. To streamline and expedite enterprise digital transformation, the platform integrates generative AI, intelligent data and event processing, process automation, RPA, web/mobile application development, and integrated connectors. EvoluteIQ assists businesses in maximizing productivity, cutting expenses, and promoting scalability in a range of sectors.
EvoluteIQ wants to provide a complete, productivity-boosting solution that integrates AI at its core to reduce operational complexity and accelerate digital transformation. Businesses without a lot of technical know-how can easily implement automation initiatives thanks to the platform’s strong feature set, flexibility, and user-friendly design.
Strong momentum and an expanding clientele across sectors like healthcare, banking and financial services, and insurance are reported by the company. EvoluteIQ’s annual recurring revenue (ARR) has been steadily increasing in recent years due to the quick adoption of its EIQ platform by F500 companies worldwide.
