Mimic, automate flows Robotic Process Automation (RPA), has raised $6 million Series A funding from Khosla Ventures. The company will use the funds to establish a US sales team and develop its product.
Mimica's first product, Mapper, operates in the realm of "process discovery," which "detects and learns patterns from people's clicks and keystrokes," so generating process maps typically takes months for business analysts to produce them through manual effort. In other words, it automates the automation process.
Mimica has RPA teams that create software bots that complete repetitive tasks like data entry, form fulfillment, and complaint and inquiry processing, a market estimated at 107 billion by 2027. However, the company argues that RPA giants like UiPath are difficult to implement in practice, and the solution of Mimic I could speed it up.
Mimic it says its AI removes these bottlenecks by automatically discovering opportunities for automation and generating process maps for bots that can speed up development.
CEO Tuhin Chakraborty and CTO Raphael Holca-Lamarre co-founded Mimic in 2017. Holca-Lamarre did a Ph.D. in computational neuroscience and machine learning. Chakraborty studied machine learning at Stanford and was awarded a patent for a supervised learning model he developed at LinkedIn.
Since its launch in 2020, Mimica has worked with Dell, AT&T, Hexaware, Experis, and Ironbridge.
Chakraborty said, “RPA is the perfect entry platform for our technology because buyers experience a lot of effort post-purchase. It's torture, looking for automation opportunities and building process maps by hand, being unnecessary."
Vinod Khosla, founder of Khosla Ventures, said: "We invested in Mimic because the founding team has an excellent combination of deep technical expertise in building AI systems and a deep understanding of the challenges a company faces when managing processes.”
Mimic compete with Fortress IQ y Sounds, both American companies. Other players like UiPath y celonis they are also creating solutions in this line.
