IDP vendor Alkymi has raised $21 million in Series A funding

With this Series A funding, Alkymi aims to create the Data Action Layer, which transforms unstructured data into actions, enabling business users to transform their own workflows and make faster decisions.

Intelligent Document Processing and data workflow automation provider Alkymi announced October 6 that it has raised $21 million in Series A funding. The round was led by Intel Capital with participation from existing investors Canaan, Work-Bench and SimCorp. Further, Dave Mueller, Investment Director at Intel Capital, will join Alkymi’s Board of Directors.

Alkymi is creating the Data Action Layer that lets business users build data actions with Alkymi. According to the company, this is a unique layer that transforms unstructured data into actions, enabling both technical and non-technical users to automate their own data workflows cost-effectively and easily.

Harald Collet, CEO and Co-founder of Alkymi, said: “We’re proud that industry leading enterprises have selected Alkymi to transform their business by accelerating data workflows up to 10x faster. Our customers appreciate the impact that Intel Capital brings to Alkymi with their track record of building successful data-driven companies that are shaping the future. Intel Capital will help us deliver on our vision, which is to change how work in the enterprise gets done.”

Mark Rostick, Vice President and Senior Managing Director at Intel Capital, commented: “At a time when enterprises are inundated with a massive volume of unstructured data moving through their organization, Alkymi empowers its users with the tools to transform this ‘dark’ data into valuable strategic assets. Alkymi reduces technical, operational, and economic barriers by placing machine learning and automation technology into the hands of business users.”

New York-based Alkymi is transforming enterprise workflows by placing machine learning and automation technology in the hands of business users to seamlessly automate processes with no-code intelligent data processing.

The full press release can be found here.

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