Mimica, which automates RPA, raises $6M Series A funding led by Khosla Ventures

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mimic, which (probably oddly enough) self drive Robotic Process Automation has raised $6 million Series A funding from Khosla Ventures. The company will use this money to set up a sales team in the US and manufacture its product. Previous seed investors included UK-based Entrepreneur First Accelerator and Episode 1 VC.

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Mimica’s first product, Mapper, operates within the realm of “process discovery”, which “learns patterns from employee clicks and keystrokes” thus allowing business analysts to produce process maps typically through manual effort. It takes months. In other words, it automates the process of automation.

Mimica has RPA teams that build software bots that carry out repetitive tasks such as data entry, form completion, and claim and ticket processing – a market projected to be worth $107 billion by 2027. However, the company argues that RPA giants like UiPath are difficult to implement in practice, and that its own software will speed it up.

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Mimica says its AI overcomes these obstacles by automatically discovering opportunities for automation and creating process maps for bots that can accelerate growth.

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CEO Tuhin Chakraborty and CTO Rafael Holka-Lamre co-founded Mimica in 2017. Holka-Lamre holds a PhD in Computational Neuroscience and Machine Learning. Chakraborty studied machine learning at Stanford and earned a patent for a supervised learning model he developed at LinkedIn.

Since its 2020 launch, Mimica has worked with Dell, AT&T, Hexaware, Xperis and IronBridge.

Chakraborty said: “RPA is the perfect beach for our technology as buyers experience a lot of pain after their purchase. It is torture, digging for opportunities for automation and creating process maps by hand, and it is unnecessary. Is. “

Vinod Khosla, Founder, Khosla Ventures, said: “We invested in Mimica because the founding team has a great combination of deep technical expertise in building AI systems, and a thorough understanding of the challenges an enterprise faces when managing processes “

Mimica competes with US companies – both FortressIQ and Skan. Other players such as UiPath and Celonis are creating competitive solutions.

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