Business automation platform EvoluteIQ on Tuesday announced $20 million equity-and-debt funding round led by Round2 Capital, with participation from Nordea Growth Fund, DCAP Select and PH ventures. The company said new funds will help enhance its AI automation platform and expand operations globally.
EvoluteIQ provides a low-code/no-code platform that combines generative AI, intelligent data and event processing, process automation, RPA, web/mobile application development and built-in connectors for the digital transformation of businesses. The company helps organizations optimize workflows, reduce operational costs, and drive scalability.
Speaking on the funding, Christian Czernich, Co-Founder & CEO at Round2 Capital said EvoluteIQ has consistently proven its ability to deliver tangible value to enterprises through its robust automation platform. “We are excited to support EvoluteIQ as they continue to push boundaries in AI and automation and drive exceptional outcomes for their global customer base.”
Round2 Capital is a European growth investment firm with EUR 180 million under management. Based in Vienna, the firm is active in several European countries with revenue-based finance and growth equity investments.
EvoluteIQ said it has experienced strong momentum in the market, growing its customer base across key industries such as Healthcare, and BFSI. The company has seen rapid adoption of its EIQ platform across F500 organisations globally with consistent organic growth in the ARR (annual recurring revenue) over the past years.
“We are humbled to have the continued support of our investors as we execute on our vision to drive the next wave of enterprise transformation,” said Sameet Gupte, Co-Founder & CEO, EvoluteIQ.