SAN JOSE, Calif., May 14, 2020 /PRNewswire/ -- Today RPA Labs, Inc, a software firm that develops automated solutions for companies in the logistics and supply chain industry, has announced the close of an oversubscribed Pre-Seed funding round.
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, followed on by a strategic "who's who" of supply chain/logistics investors: PSA unboXed, a subsidiary of global port operator PSA International Pte Ltd Global eTrade Services Supply Chain Ventures and several retired executives from the logistics industry
"Many companies normally celebrate their round announcement. It's nice to have capital injection; however, we are more blessed to have these names on our cap table. It's really exciting to have a strategic group that will provide valuable insights," added Motsick.
The company plans to add more pre-built logistics software bots to its Bot Catalog.
"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," said Julian Counihan, Partner at Schematic Ventures.
About RPA Labs
RPA Labs develops software bots for companies in logistics and supply chain that are buried in emails, documents, and ineﬃcient processes. Our software bots help companies scale without more people by eliminating manual, repetitive tasks, so you can oﬀer a better experience for your customers and workforce.
Schematic Ventures is a new venture capital fund dedicated to industrial technology that makes or moves the world. Founded by Julian Counihan, the firm provides entrepreneurs with access to expertise, business development, talent and insights across the manufacturing, supply chain and broader industrial sectors. For more information please visit www.schematicventures.com.