“Business process automation” may not sound like the most exciting field, but there’s a lot of money to be made (and raised) by helping businesses glue various services and platforms together to make work happen smoothly.
A number of companies have made it their cause to democratize access to tooling and techniques that were previously the provenance of over-stretched IT departments and software developers. Pipefy is one of them.
Today, Pipefy announced that it has raised $16 million in a Series A round co-led by OpenView and Trinity Ventures. Prior investors Valor Capital and Brazilian venture fund Redpoint eventures also participated in the Series A financing.
Prior to this round, Pipefy raised $2.7 million in known seed-stage funding, according to Crunchbase data. Other investors in the Seed round include 500 Startups and two co-founders of Zendesk. This brings total capital raised by the company to $18.7 million.
Pipefy provides a self-service platform for business-process managers to design, deploy, and measure the performance of new digital workflows. It provides a set of templates for different kinds of departments. For example, Pipefy designed a sales pipeline workflow that any of its users can implement for their own organization. The company also lets managers roll their own custom workflows.
According to a statement from the company, Pipefy serves customers in 146 countries and is experiencing significant uptake among new users, citing “a 10-percent average monthly growth rate.” Pipefy’s current customers are diverse, ranging from small businesses and venture-backed startups to large enterprises like Accenture and IBM Santander.
Pipefy was originally based in Brazil before relocating its headquarters to San Francisco, California.
Illustration: Li-Anne Dias