Startup News: RPA Labs closes $1.2 million pre-seed round led by Schematic Ventures
Company provides workflow automation technology across conversations, documents and operations
RPA Labs closed a $1.2 million pre-seed round led by Schematic Ventures with participation by leading supply chain institutions and angel investors.
The company was created by Suraj Menon and Matt Motsick to provide workflow automation technology across three areas of logistics: conversations, documents and operations. The technology consists of software bots that are purpose-built for logistics practitioners such as: customer response, TMS / ERP load creation and shipment quotation.
These bots are designed specifically for the supply chain industry, bypassing the time needed to train general machine learning or adapt RPA platforms to highly-complex, supply chain operations. The result of this focus allows RPA Labs’ customers to achieve measurable ROI in just under 45 days after deployment.
“In these times, companies are finding that automation can help scale their business,” said RPA Labs CTO and co-founder, Suraj Menon. “Our technology allows shippers, freight forwarders, brokers and carriers to choose what bottlenecks or pain points that take up a lot of time and provide a long term solution to reduce their cost per shipment expenses and increase customer response rates.”
RPA Labs’ investment round was led by Schematic Ventures with participation by PSA unboxed, Global Etrade Services, Supply Chain Ventures and senior executives from the logistics industry. “We are excited to partner with strategic investors who bring both capital and valuable insights,” said Matt Motsick, CEO and co-founder of RPA Labs.
Julian Counihan, partner at Schematic Ventures, added, “General RPA has failed to automate complex supply chain workflows. RPA Labs launched with a singular focus to bring this technology to the industry in a form that makes sense for practitioners and works out-of-the-box. Matt & Suraj of RPA Labs are a rare combination of commercial maritime and enterprise technology experience. We’re excited to lead their seed round alongside a terrific group of investors.”
Startup News is published every Friday, along with SCMR.com’s Supply Chain Startup Blog. Send your startup news to Bob Trebilcock, editorial director, Supply Chain Management Review at [email protected].
