Cloudy Redwood Software announced that it has scored a £270.5 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 $214 billion in 2021, with process automation exceeding $83 billion.
Founded in 1993, Netherlands-based Redwood Software serves thousands of global enterprise customers, including Coca-Cola, GM, Halliburton, Grainger, Wells Fargo, UBS, Mercedes-Benz, Airbus, Siemens, and Heineken. Redwood was named the “Best SaaS Workload Automation Solution” in 2019 by EMA.
Tijl Vuyk, Redwood Software CEO and Founder said: “We are thrilled to partner with Turn/River. Their team’s go-to-market expertise combined with Redwood’s technology will create a highly complementary partnership, and further our goal of bringing modern automation to every enterprise.”
Analyst outfit Enterprise Management Associates (EMA) PDan Twing said “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.”
