New funding to bolster hyperautomation capabilities and expedite global expansion
SHANGHAI, Nov. 15, 2021 /PRNewswire/ — Cyclone Robotics, a leading robotic process automation (RPA) provider and thought leader in hyperautomation today announced the completion of a US$150 million Round C financing. It is the largest-ever individual financing round in China’s RPA industry. CMC Capital and Goldman Sachs Asset Management were the lead investors with Lavender Hill Capital Partners, ZWC Partners, V Fund, DCM, Matrix Partners and Source Code Capital as co-investors.
The fund raised will be used to bolster the company’s hyperautomation capabilities and products with an objective to expand customer coverage as well as global partnerships. In the future, Cyclone Robotics will invest more in the product development of hyperautomation. In addition, the investment will help Cyclone Robotics to develop its partnership program to the next level – by providing more inclusive training resources, enablement and fast-response service. Cyclone Robotics endeavors to build a more collaborative global partnership ecosystem. By leveraging its advanced product solutions and extensive partnership network, Cyclone Robotics strives to grow its business both in scope and in depth. It seeks to up its game by making its proven technology applicable to more industries and companies of various scale, ranging from large corporations to small to medium-sized enterprises.
"We believe that hyperautomation is the future of RPA and a key approach to the digital transformation. This has led to our creation of hyperautomation solutions across the full lifecycle and value-driven product offering. Our intelligent robot products run across platforms from Windows, Linux to Android, and our platform products are built on cloud native architecture and deployed from on-premises to public clouds." said Vincent Gao, founder and CEO of Cyclone Robotics, "We are pleased that our values, innovation and growth strategy are recognized by such prominent investors. This investment reinforces Cyclone Robotics’ leading position in RPA and hyperautomation. We believe that our vision ‘Automation Everywhere and Automation Anytime’ will lead us to continuously grow and accelerate our international business expansion. We welcome companies and partners of all types and sizes to grow with us, and drive true digital transformation around the world in the future."
Since 2019, Cyclone Robotics has achieved an annual growth rate of more than 400%, thanks to its cutting-edge products and solutions as well as partnership ecosystem and track record in helping different enterprises grow. Staying ahead of the Hyperautomation trend, Cyclone Robotics has invested heavily in product development so as to provide end-to-end automation solutions, covering the whole lifecycle of digital transformation, including phases of requirements discovery, design, management and engagement. Hence, it not only can empower businesses to improve individual task efficiencies, but also provide departmental and enterprise-level RPA solutions for the next stage of their digital transformations as they continue to advance.
By working closely with its partners across the globe, Cyclone Robotics has successfully harnessed its industry insights and products to help enterprises in more than 10 key industries. The industries which have benefited from its service range from finance, insurance, energy, automobiles, medicine, electricity to e-commerce. So far, Cyclone Robotics is the only RPA provider in China to have been included in both the Gartner RPA Magic Quadrant and Forrester Wave.
"Against the backdrop of increasing labor cost and urgent need to improve efficiency, software automation technology, represented by RPA, can free employees from repetitive work and greatly improve enterprise operation efficiency. At the same time, RPA is becoming a key component of the digital transformation of global and Chinese enterprises. It bridges the gap between myriads of internal and external software and systems, collects and centralize data, and enables customers with new capabilities and businesses. With continuous development and innovation, Cyclone Robotics’ complete end-to-end RPA solution has been highly praised by customers. Cyclone Robotics has an experienced management team, excellent product vision and solid execution capability. We are glad to partner with the company to drive the development of the industry and promote the digitalization in the world." said Alex Chen, Partner and Chief Investment Officer of CMC Capital.
"RPA is one of the fastest growing verticals within enterprise service software, where China represents a large and rapidly developing market. Riding on the wave of digital transformation, RPA has brought efficiency, accuracy and productivity to Chinese enterprises through streamlined workflows." said Xinyi Feng, a Managing Director at Goldman Sachs Asset Management. "Driven by sustained demand for automating processes, we expected the market to continue to expand and will support Cyclone Robotics to capture this tremendous growth opportunity by leveraging our global network, capital and industry expertise."
About Cyclone Robotics
Cyclone Robotics, a world-leading RPA provider and thought leader in hyperautomation, has experienced rapid expansion with an average annual growth rate of 400% since 2019. The company now has more than 500 members across 19 subsidiaries and branches around the world, serving nearly 1,000 global customers across Asia Pacific, Europe, and the Middle East. In early 2021, Cyclone Robotics established its Singapore branch to empower APAC enterprises across a wide variety of sectors to accelerate their digital transformation efforts with Cyclone’s full RPA products & services portfolio. Its explosive business growth, leading technology, strong team, advanced product ideas, and ability to seize business opportunities have been particularly recognized by investors and international authorities. To date, Cyclone Robotics is the only RPA provider in China to have been included in the authoritative reports published by both Gartner and Forrester.