Kryon

Kryon works in the field of enterprise automation, offering a platform combining Kryon Process Discovery and (Robotic Process Automation RPA). The complete solution increases the rate of return on investment and reduces the time to implement robotization by up to 80%. Kryon has in its portfolio of solutions attended (desktop), RPA unattended (virtual-machine-based) RPA and supports a hybrid scenario of two types of robots.

History

2022: Fort Ross Ventures withdrew. Nintex acquires company

On February 15, 2022, Fort Ross Ventures withdrew from Kryon, selling its stake to Nintex. As noted in the fund, from 2019, when he invested in Kryon, to 2022, "the startup showed growth and entered the Russian market."

The American company Nintex acquires the Israeli technology startup Kryon to further expand the capabilities of the intelligent process automation (IPA) platform Nintex Process Platform. The terms of the deal were not disclosed, but Calcalist said that Nintex paid about $100 million for the Israeli company, and 150 Kryon employees will move to work at Nintex.

Fort Ross Ventures withdrew from the capital of Kryon's RPA company. Competitor bought it

Kryon's process detection and robotic process automation (RPA) technologies are used by Fortune 500 companies in industries such as financial services, insurance and telecommunications, including industry leaders such as AIG, Verizon, LTCG and CP. RPA-as-a-Service solutions help companies understand and improve their operations, resulting in significant time and cost savings.

Kryon is the first acquisition of Nintex under the leadership of new major investor TPG, and the third acquisition of the company in the past 16 months. Nintex acquired K2 Software in October 2020 to expand the capabilities of digital process automation (DPA) and AssureSign in June 2021 to introduce embedded electronic signature into its platform, which is now marketed as Nintex AssureSign.

{{quote 'Thanks to Kryon's innovative RPA and process discovery capabilities, we are implementing our strategy to continuously expand and deepen our process management platform to provide public and private sector organizations with a competitive edge in digital processes, "said Nintex CEO Eric Johnson. }} {{quote 'Our international team is very pleased to join forces with a market-leading company such as Nintex, which also has a strong reputation as a great place to work in every region of the world, "said Kryon CEO Harel Tayeb. We are ready to quickly implement our process discovery technology and the next generation of RPA into the Nintex platform to ensure that the full potential of the organization's digital business is realized through intelligent automation. ^[1]

2019: Investment from Fort Ross Ventures

On December 10, 2019, Sberbank told TAdviser that Fort Ross Ventures invested in Kryon, a company in the full-cycle robotic process automation (RPA) market, which allows organizations to continuously optimize processes and change the idea of ​ ​ the workplace of the future.

Source: glassdoor.sg

The investments of Fort Ross Ventures are designed to significantly facilitate the further penetration of Kryon's full-cycle automation technologies into such important Russian industries as banking, financial services, insurance and manufacturing. RPA solutions in Russia are rapidly developing, while there is a high demand for this technology from leading enterprises.

RPA is one of the fastest growing technologies, and Kryon is a clear leader thanks to its innovative solution for full-cycle automation based on artificial intelligence, which includes process detection and RPA. We are excited about the opportunities that Fort Ross offers with this strategic investment and believe that Kryon will grow and remain an industry leader. said Victor Orlovsky, managing partner of Fort Ross Ventures

According to representatives of Kryon, the comprehensive solution of Kryon Automation Suite significantly affected the automation processes thanks to the tool, Process Discovery reducing the time required for organizations to scale the deployment of RPA (while implementation can occur up to 80% faster). Process Discovery, in conjunction with RPA Kryon solutions, creates a full-cycle RPA service. Organizations can now scale and accelerate RPA implementation by achieving a higher return on investment (ROI) ratio ROI , reducing total cost of ownership (TCO TCO), and generally improving customer experience, while allowing employees to direct time and energy to tasks that are more important to the business and interesting to the employees themselves.

Thanks to our solution to automate the full cycle of work, Kryon is a company that can successfully scale the implementation of RPA processes in large companies. Since we see Russia as a key market, we are happy to attract such an investor and look forward to working together to accelerate our entry into the market in this important region, noted Harel Tayeb, CEO of Kryon

RPA solutions are an important part of the overall automation of our business processes. We are actively developing this direction, commented by David Rafalovsky, Executive Vice President of Sberbank