Keystone Capital Management, L.P. is investing in hyperautomation consultancy Novatio Solutions. Financial terms of the investment were not disclosed.
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Keystone Capital Invests in RPA Solutions Provider Novatio Solutions
Novatio, founded in 2014, is based in Orlando, Florida. The company has 58 employees listed on LinkedIn. Novatio’s areas of expertise include robotic process automation (RPA), digital workforce solutions, artificial intelligence, efficiency, business process automation and productivity. Novatio has deep expertise in automation strategy, software implementation and ongoing support of automation programs. Novatio primarily works in partnership with UiPath and Automation Anywhere, the leading robotic process automation (RPA) and intelligent automation software platforms, the company said.
Keystone Capital, founded in 1994, is based in Chicago, Illinois. The company has 24 employees listed on LinkedIn. Keystone’s areas of expertise include private equity.
Gokul Solai, CEO of Novatio, commented on the news:
“We are delighted to partner with a patient and experienced investor in Keystone Capital to help build on the success Novatio has enjoyed to date. Intelligent automation is still in its infancy and this partnership is an important step to ensure we will continue to be at the forefront of the industry. We look forward to continuing to develop new and exciting solutions to expand the impact that process consulting and automation can have within our client partners’ organizations.”
Bill Sommerschield, managing director at Keystone Capital, added:
“Novatio is exceptionally well-positioned to capitalize on the significant opportunity in the intelligent automation industry. We are thrilled to partner with Gokul and his team to collaboratively build a preeminent service provider in this dynamic and fast-growing marketplace.”
What is Robotic Process Automation?
RPA software allows businesses to write code and bots that rapidly automate manual tasks across multiple departments — from IT service desks to HR, finance, customer support and more. The fast-growing market segment is generating strong M&A activity. An expansive RPA M&A list is available here.
The market growth is largely being spurred on by customer demand. The global RPA software market is expected to reach $13.74 billion by 2028, up from $1.57 billion in 2020. The market’s compound annual growth rate from 2021 to 2028 is expected to be 32.8%, Grand View Research predicts.