Nearshore Americas

RPA Vendor FortressIQ Raises $30 Million

FortressIQ, an RPA firm that helps companies identify bottlenecks in internal business processes on their way to automation, has raised US$30 million from nearly half a dozen investors led by Microsoft’s venture capital arm M12.

San Francisco, CA-based Fortress, has employed barely 60 people, but its technology platform stands out in the crowded RPA marketplace because of its unique features.

Ideally, organizations use business analysts to map their processes; Fortress has almost automated this process.

“FortressIQ’s capacity to identify bottlenecks and inefficiencies where automation can help is improving both the employee experience and business outcomes,” says Tamara Steffens, managing director at M12. Microsoft has already integrated Fortress’s software into its “Power Automate.”

Unlike an RPA provider, Fortress creates a detailed map of every process across every application and department before outlining a way to automate certain processes. “A lot of the RPA vendors look at log files to figure out a process. We go one step further and create the log files. If a human can see it, we can see it,” stated the company’s CEO and founder Pankaj Chowdhry in a recent interview with Silicon Angle.

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Other investors who took part in the funding round include Tiger Global Management, Boldstart Ventures, Comcast Ventures, Eniac Ventures, and Lightspeed Venture Partners.

Fortress says it will use the new cash to innovate its products further.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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