Startup Companies Blog

AI Startups Get the Headlines, But Don't Forget IPA Startups

Only a couple of decades ago, startups that involved technology were considered advanced. In a short space of time, technology, development, and application have become very commonplace. In the past technology, ventures were all about creating new technology. While this is still true, new companies in the technology space today are about improving, changing, and automating.

ai startups

Technology: A driving force behind new business

In the last five years, artificial intelligence and various forms of machine learning have been at the forefront of small business growth. According to Statista, there are 2028 AI companies in the United States. There are many areas of expertise in this advanced technology area that are changing industries, processes, and even the way people work.

While AI startups are a well known hotbed of activity, IPA startups, or intelligence process automation startups, are also a quickly growing group.

K2

Founded in 2000 by Adriaan Van Wyk and Olaf Wagner, K2 was an early adopter in the world of IPA. The company had a clear and straightforward offering to give companies the power to create modern process applications, automate workflows without coding.

Recently acquired by Nintex, K2 raised $153 million of investment and continues to transform US companies with simple, intelligent, and smart tools. K2 had a clear plan of what they wanted to deliver, solving problems with simple solutions. Innovation and out of the box thinking is what makes small intelligent automation companies successful.

AvidXchange

Managing the financials of a company and the associated admin is time-consuming, which means it is costly. Founded in 2000 by Chris Tinsley and Michael Praeger, AvidXchange decided to make things more efficient. Today cloud-based technology is commonplace, but two decades ago, this was not so.

Focused on automating invoicing and payment processing for the mid-market, AvidXchange has secured over $1.1 Billion of funding.

Today AvidXchange is used by thousands of companies around the world and processes over $140 billion in transactions each year. Driving down costs through efficiency is where AvidXchange and similar small technology companies are changing the world.

It is not so much the invention of new tools but the creation of technologies that improve efficiency, making startup tech companies figureheads of the economy.

Where does Automation end?

In a drive for increased productivity and ever-perfected efficiency, automated intelligence is finding a clear path forward. Finding the single process or task that takes up time or have room for human error is where AI companies especially are growing.

Often adding value to existing technologies, doing this faster with greater accuracy the market is considerable. Whether the technology is aimed at a business or a home consumer, we live in a world where AI benefits us all.

Keeping up with change

The pace at which technology companies are producing ever faster, ever more efficient solutions is extremely mind-boggling. Being first and reaching the bulk of the audience, soonest is the key to success in many cases.

Investment that is put into PR and Marketing is what is giving technology companies the leading edge. PR is equally and vital for good technology, innovation, and expertise today, and the smartest of tech companies know this.

Finding automated intelligence companies

While the number of intelligent process automation companies coming onto the scene is considerable, learning about and connecting with them ahead of your competition can be a challenge. Fundz was created to offer a compelling advantage in this regard.

 

Sources

https://tracxn.com/d/trending-themes/Startups-in-Intelligent-Process-Automation

https://www.statista.com/statistics/941054/number-of-ai-companies-worldwide-by-country/#:~:text=The%20statistic%20shows%20the%20number,the%20United%20States%20was%202%2C028.

https://hbr.org/sponsored/2019/12/how-companies-are-using-intelligent-automation-to-be-more-innovative

https://builtin.com/artificial-intelligence/ai-companies-roundup