Nearly $380 Million Raised by Redwood Software for Enteprise RPA

20.05.21 07:00 AM Comment(s) By Assetsoft

Nearly $380 Million Raised by Redwood Software for Enteprise RPA

Process automation is one of the fastest-growing trends in almost every industry. Even before COVID-19, its projected growth was massive. The pandemic only strengthened the need for its advantages and savings. 


RPA, or robotic process automation, goes by many names. However, its goal and results are usually the same: reducing the resources and effort necessary to carry out specific processes. It relies on repetition and databases, but current developments could take it to a new level. 


Recently, a multi-millionaire investment proved why this technology proliferates. Why did it happen, and what does it mean? 

What happened? 

As reported by VentureBeat, Redwood—an IT and cloud solutions firm—announced a $379-million investment from Turn River Capital. This investment marks the company’s first external funding. 


Redwood claims to work with thousands of corporate customers, like Coca-Cola and Wells Fargo. The company allows clients to orchestrate multiple processes together. 


Why does any of that matter? 


That's because Redwood could become an essential name in automation's innovation. 

Automation: A growing trend

Business process automation does more than saving costs and resources. Contrary to common belief, automation has opened job opportunities for countless people around the world. 


Additionally, companies keep discovering how many processes can become automated. As the technology evolves, the majority of most companies’ operations allow for, at least, partial automation. As more companies adopt workflow automation, this trend will keep growing exponentially. 

Redwood's developments

Redwood's primary services cover mimicking workflows, process orchestration, and metadata management. The company has adopted multiple automation-related solutions, like allowing entire workflows to function free from human intervention. 


The company also allows for automatic task tracking and log bottlenecks. The main goal is to keep auditability without hindering the processes’ efficiency. 

Why is this investment such a big deal?

The article also quotes Redwood’s CEO as stating that the firm aims to become an industry leader in automation. This recent funding allows the company to extend its reach. Since they’re already a pioneer in cloud-based automation, it’s crucial to keep an eye on them. 


Shifting from IT infrastructure toward cloud solutions is a considerable improvement that could drive automation to the next level. If successful, this development could shed light on more scalability possibilities for any company. 

Cloud automation: Another important front 

Let’s focus on cloud automation for a moment. File encryption and app transfers are among Redwood’s catalog. The automation capabilities extend to file segmenting and transfer management depending on network stability. 


Their platform offers unique features, like starting extensive maintenance tasks after detecting performance issues. It notifies developers about any anomalies in real-time, providing exceptional control despite the software's independence. 

2020’s implications for digital adoption 

The COVID-19 crisis resulted in a heightened need for technological implementation. Integrating modern systems and methodologies has become a lifesaver for countless companies, from automation to data management. 


This investment showcases the overall interest in RPA solutions. As the post-COVID world settles, companies who embrace digital solutions early will make the most out of this recovery period. 

Is the future coming faster than expected? 

We must note that Redwood’s case isn’t an isolated development. Deloitte’s Global RPA Survey has shown promising growth every year—including before the pandemic. Their third annual survey showed that 53% of its respondents had started their RPA integration in 2018. 


Given current-year statistics, we can see that automation will not only become a standard in the future. These developments and RPA’s adoption are already taking place, and it likely won’t take long before most industries rely extensively on RPA. 

New RPA developments 

The 2018 survey predicted that 72% of its 2020 responders would become RPA users, and current metrics forecast nine-digit revenue in a couple of years. However, Deloitte suggests even larger expectations. 


Their report states that automation could achieve virtually universal adoption by 2023, somewhat coinciding with similar expectations. 

Considerable benefits

Today, RPA offers unique benefits for multiple companies: saving costs, relocating resources to better projects, and increasing efficiency. However, these benefits aren't modern, as the 2018 survey also goes through them. 


For instance, payback periods improved considerably. Nevertheless, the advantages extend to other fronts, like compliance, data accuracy, service quality, and productivity benefits. 

Increasing investments 

The amount of responders who reported their interest in investing more into RPA is crucial. Almost 80% of current (by then) RPA users claimed that they wished to further their RPA funding in the following three years, which would culminate in 2021. 


As we can see, the pandemic strengthened this need prominently. Only 3% of the organizations had scaled their digitization by the time of the survey. Since 2020, RPA adoption has reached a majority of the global industry despite its difficulties. 

What does this mean for property managers? 

As we always say, early technology adoption is crucial to reap all the potential benefits. It'll not only provide invaluable advantages, but you also get to leverage them before your competitors. 


To simplify things, we can say that proper tech implementation must be a priority this year. RPA and similar systems won't merely become more popular. They'll soon pose a standard for most sectors. 

The need for digital adoption

Digital adoption offers virtually unlimited benefits, especially as related technologies scale and implement more features. RPA only makes up a portion of digital adoption’s true extent. 


As such, companies must consider working with expert digital adoption advisory. It doesn’t only let you reduce expenses; it also allows extensive collaboration and security features. 

Professional implementation becoming critical

Unfortunately, implementing the right solutions doesn't mean you'll enjoy all the benefits from RPA. Developing the proper scripts and integrating them with your software requires expertise. 


That means that finding the right implementation partner is vital to ensure the results your company needs. For instance, our UiPath implementation solutions follow the best methodology for every customer. 

Upgrading company processes and systems

Finally, implementing advanced automation scripts means nothing if your current systems don’t support these integrations. While it can be an intimidating investment, technology selection services can help you find the best value for your budget. 

RPA with Assetsoft

If you’re currently considering implementing RPA solutions, make sure to contact us for a free consultation and a complete service.  


Assetsoft can help you create and design robots for all your work needs, from scheduling emails, data entry to invoice processing. We can hep create robots that meet your specific department needs, to ensure you get work done faster, reduce costs while leaving out any room for errors. 


Share -