GROWTH MARKET OF INTELLIGENT AUTOMATION:
KENDAXA RECEIVES GROWTH FUNDING AND STRENGTHENS MANAGEMENT WITH CHIEF REVENUE OFFICER AND CHIEF MARKETING OFFICER
KENDAXA Group, an innovative vendor of AI and data-driven Intelligent Automation solutions, has received growth funding in a round led by top German venture capital firm eCAPITAL with contributions from well-known family offices and private investors. The funds will be used to further extend the group’s activities in the manufacturing industry and financial services market segments.
To this end and effective January 1, 2021, the company has also strengthened its sales and marketing management. Roland Hölscher has been appointed as a further managing director and will take on the position of Chief Revenue Officer. Mr. Hölscher is coming from Longview Group (formerly arcplan), where he last served as Executive Vice President Customer Success, and brings over 20 years of experience in the areas of Business Intelligence and Analytics to his new role. He will be supported with many years of management experience in the areas of business development, product management, and marketing by Torsten Rössel, who has been appointed as Chief Marketing Officer also at the beginning of the year. Mr. Rössel has previously been instrumental in the successful development of two other technology startups for enterprise content management as well as for network security and cloud solutions in industrial automation, and most recently held a management position at PHOENIX CONTACT Group.
The funding round was preceeded by the achievement of important milestones in 2020. These included the launch and successful productive usage of KENDAXA’s innovative BOM Validator solution for the automatic validation of complex engineering bills of materials (or E-BOMs for short) for a customer from the discrete variant manufacturing industry. Furthermore, KENDAXA closed several significant orders for intelligent document processing and workflow automation applications in the fields of insurance brokerage, receivables management / debt collection, and banking.
KENDAXA’s founder Christopher Blaschke and Co-CEO Dr. Thomas Klüss are convinced:
“With this expansion of our resources, we will be able to scale the solutions business in the segments focused by KENDAXA and for that purpose to intensify our development investment into cloud-based software-as-a-service products for intelligent automation.”
Bernd Arkenau, Partner at eCAPITAL, adds:
“With its proprietary technology and numerous well-known reference customers, KENDAXA is in an excellent position to become one of Europe’s leading companies in this exciting market segment. We look forward to accompanying KENDAXA on its further growth path.”
Intelligent Automation (IA) is a dynamic growth market and an increasingly differentiating success factor for enterprises. IPA combines the so-called Robotic Process Automation (RPA) of simpler repetitive activities with advanced AI and analytics techniques, thus extending the automation to more complex tasks.
According to analyst estimates, the global market for intelligent automation technologies including RPA is growing at a CAGR of 40% and expected to reach an annual volume of 25 billion USD by 2027 (Source: Intelligent Automation Study, Deloitte, 2020).
Founded in 2017 and with offices in Leipzig, Germany, and Prag, Czech Republic, KENDAXA Group is a B2B IT company specializing in the creation of software solutions leveraging artificial intelligence (AI), machine learning (ML), and data science for customers in the manufacturing, financial services, trade and retail industries. Its focus is on the intelligent automation of industrial engineering and production processes in conjunction with Product Lifecycle Management systems (PLM) as well as on intelligent data stream and document processing including image and video footage for the automation of decisions and workflows.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 280 million under management and was lead investor of some very successful German exits like sonnen or Novaled.