Redwood Software, a specialist provider of cloud-based business and IT process automation solutions, has received a EUR315 million strategic investment from growth equity firm Turn/River Capital. The investment from Turn/River will enable Redwood to accelerate new feature development for its industry-leading IT and business process automation platform, which FeaturedCustomers recently recognised as a rising star in the Spring 2021 RPA Software Customer Success Report.

Statista estimates the global automation industry will generate USD214 billion in 2021, with process automation exceeding USD83 billion. “The modern enterprise needs sophisticated automation solutions to enable it to scale rapidly and still remain agile in the face of disruptions,” says Dan Twing, President and Chief Operating Officer of analyst firm Enterprise Management Associates (EMA). “It’s imperative that organisations adopt technology that can support the breadth of their business operations. Redwood provides the only cloud-based solution of its kind, purpose-built for the enterprise, setting it apart as a leader in the space.”

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Source: Private Equity Wire