Indico, a provider of enterprise AI for process automation, today announced that it has raised $22 million. The company says the new funding will enable it to double its headcount in 2021, with hires in sales, partnerships, and marketing, while expanding its channel relationships and integration partnerships to broaden its market footprint.
Process discovery and automation is understandably big business. Forrester estimates that robotic process automation (RPA) and related subfields created jobs for 40% of companies in 2019. According to a McKinsey survey, at least a third of activities could be automated in about 60% of occupations, which might be why Market and Markets anticipates the RPA market alone will be worth $493 billion by 2022.