Seed Round Enables the Leading Robotic Process Automation Company to Expand Portfolio and Drive Further Focus on Delivering Solutions at a Global Scale
qBotica, a Phoenix-based robotic-process automation company, raised $1m in seed funding from Peacock Ventures. The company intends to use the funds to expand its technology to help B2B businesses with their document processing and robotic process automation (RPA) requirements.
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qBotica is a leading provider of Intelligent Document Processing and RPA as a service solutions. qBotica has helped several Fortune 500 clients with intelligent automation, providing rapid insights into inefficiencies plaguing the organizations, and removing inefficiencies through seamless automation.
According to qBotica’s founder Mahesh Vinayagam, qBotica’s marquee products, DoqumentAI and Disqover, are rapidly making inroads into organizations to help them derive the highest business value by offering best-in-class automation services and solutions, delivered and integrated with leading automation products in the world such as UiPath, Abbyy and Microsoft Azure AI platforms.
DoqumentAI is an AI-powered Software-as-a-Service platform that analyzes documents like invoices and insurance claims and extracts critical data with near-perfect accuracy for processing. The product has proven to be 10 times faster and more efficient than a human and continues to drive efficiencies for several companies. Disqover automatically and quickly uncovers automation opportunities.
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This round of funding helps qBotica ramp up its hiring, expand RPA-as-a-service solutions and explore new channels to scale the solution globally.
“qBotica is our first investment in the RPA market,” said Rohit Reddy, a founding member of Peacock Ventures. “qBotica’s thesis focuses on opportunities to leverage Artificial Intelligence to increase value and decrease costs. We expect the RPA market to continue to grow at a compounded annual rate of 55 percent over the next 4 years and qBotica is well positioned, under Mahesh’s leadership, to capture more of this growing market. We have tremendous confidence in the passionate product and sales team members to continue to pierce through new clients and deliver this amazing software solution. We are thrilled to be a part of it.”