Roots Automation, a New York-based creator of the AI-powered Digital Coworker and InsurGPT, has raised $22.2 million in a Series B funding round.
Investors
The round was led by Harbert Growth Partners, with participation from MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Founded in 2004, Harbert Growth Partners is a growth and expansion firm based in Richmond, Virginia, that invests in early-stage, later-stage, and growth-stage companies. The firm focuses on IT, digital media, cybersecurity, fintech, real estate tech, enterprise software, healthcare services, medical devices, and health IT.
Roots Automation Use of Funds
The company will use the funding to support expansion and product development.
About Roots Automation
Roots Automation is a technology company specializing in AI-powered solutions designed to improve operational efficiency for businesses, particularly in the insurance industry. It combines machine intelligence and human ingenuity through advanced AI that reads, reasons and infers like humans. Roots' AI is trained on millions of non-public insurance documents, workflows, and systems, continuously learning through interactions with human teams. The company helps leading brands automate complex workflows, allowing teams to focus on delivering excellent customer service. Roots Automation is based in New York and was founded in 2018.
Funding Details
Company: Roots Automation, Inc.
Raised: $22.2M
Round: Series B
Funding Date: September 2024
Lead Investors: Harbert Growth Partners
Additional Investors: MissionOG, Liberty Mutual Strategic Ventures, Vestigo Ventures
Company Website: https://www.rootsautomation.com/
Software Category: Process Automation
Source: https://www.prnewswire.com/news-releases/roots-automation-raises-22-2-million-to-unlock-the-value-held-within-unstructured-data-across-insurance-with-ai-302250212.html