Workist, a Berlin, Germany-based tech startup that automates B2B transactions to end manual document processing, announced €9 million in Series A funding for its AI-enables platform, freeing up the administrative burden.
The SaaS startup is now planning to expand, taking its automation tool to global B2B companies.
The round was led by Earlybird Venture Capital, which included 468 Capital, LEA Partners, and another.vc as backers, bringing Workist’s total funding raised to €12 million.
The new funding will be used to strengthen the product and technology team and expand the range of applications.
“Similar to the steam engine in the 18th century, AI will lead to a veritable explosion in the automation of human labour – but this time of office work. With Workist, companies can significantly increase their efficiency and leverage the potential of AI today.” Tim Wegner, Workist Co-Founder, and Managing Director said.
The company’s solution is trusted by Deutsche Bahn, PepsiCo, Zentis, and Brennenstuhl.
Company: Workist GmbH
Raised: €9.0M
Round: Series A
Funding Month: September 2022
Lead Investors: Earlybird Venture Capital
Additional Investors: 468 Capital, LEA Partners, and another.vc
Company Website: https://www.workist.com/
Software Category: AI-powered Business Automation Platform
About the company: Workist is a tech startup enabling businesses to gain more time and resources, channeling those to creative and purposeful work. Its diverse and experienced team is eager to solve challenging problems and build long-term relationships with people and businesses. Workist translates B2B transactions, enabling seamless integration and automated information exchange between business customers, distributors, and suppliers. Workist’s AI software, WorKL, can understand business documents such as purchase orders, invoices, and delivery bills and automatically processes all relevant information to automate commercial transactions fully. Workist’s solution is easy to implement, especially for mid-sized companies, and compatible with numerous ERP and CRM systems and other enterprises IT software. Workist mission is to automate all the document processing aspects to B2B transactions and has grown to over 50 customers and seven-figure revenue in just two years.
Source: https://www.eu-startups.com/2022/09/berlin-based-workist-snaps-up-e9-million-to-automate-b2b-transactions/