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Open source RPA vendor Robocorp raises $21 million

 

Python and consumption pricing

Like the bigger RPA vendors, Robocorp provides technology to automate time-consuming manual processes such as healthcare claims processing and revenue cycle management, legal contracts and auditing.

However, Robocorp differentiates itself with Python-based, customizable tools that enable RPA developers to develop bots that Robocorp customers own instead of lease.

Robocorp operates on a consumption-based pricing model, or robot-as-a-service, rather than licensing the bots as the bigger vendors mainly do.

“We are successful if our end users and partners are successful,” Karjalainen said. “It’s not about selling you a fancy tool or a license.”

For the security requirements of highly regulated industries, Robocorp provides an embedded vault that stores access credentials in the control room – the central cloud-based platform that hosts the RPA developer tools.

Robocorp’s open source RPA strategy could well be successful “There’s just a ton of hype in the RPA space right now, but the hidden cost of a lot of this automation is you have a hidden army of people doing the maintenance support, building and rebuilding these bots,” English said.

Robocorp’s hosted platform approach enables developers who may not be full-fledged AI data scientists, but who still know Python, to build bots quickly without needing to know multiple bot development frameworks and languages, English said.

“They have a broad level of support for what they’re building,” English said. “There are a lot of fans who might have been waiting for this approach. There’s a certain amount of enthusiasm beyond just its functionality among a community of practitioners.”

 

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