No Shifting Gears: VCs Continue Investing in Automation/Workflow
March 28, 2014
Automation/workflow software is a beautiful thing. It streamlines and automatically completes mundane and repetitive tasks, allowing businesses and their employees to focus on much more important things. It increases productivity and efficiency while decreasing cost and time expenditures. The downside? Maybe one day every task in the world will be completed by computers and robots and all humans will be out of jobs. Until then, let's talk about the people who love this stuff—specifically, venture capitalists.
Since the beginning of 2010, VC investors have funded 126 U.S.-based companies offering automation/workflow software, according to the PitchBook Platform. During that timeframe, the number of deals completed in the space each year increased from 26 in 2010 to 61 in 2013. Aside from a slight dip in 2012, capital invested each year also increased, shooting up from $130 million in 2010 to $378 million in 2013, the highest yearly amount of capital invested in the space in nearly 15 years. The 61 deals completed in 2013 is the most for any single year in the industry, ever; and 2014, already with 23 deals in the books, is on pace to easily set the new record.