Nintex acquires the Israeli technology company Kryon for about $ 100 million, Calcalist has learned. The acquisition is intended to expand the smart process automation and capabilities of the Nintex process platform.
The Israeli company, founded in 2011 by Harel Tayeb, has raised about $ 78 million to date, including its investors: OAK HC / FT, Aquiline Technology Growth and Fort Ross Ventures, the investment platform Ourcrowd and the Vertex Fund.
Kryon develops robotics services for the corporate sector, ie replacing manual office work with automated solutions. The company employs 150 employees who will join the acquiring company.
Kryon provides solutions to Fortune 500 companies in a variety of areas such as financial services, insurance and telecommunications, including industry-leading companies such as AIG, Verizon, LTCG and CP All.
Kryon is the first acquisition of Nintex under its new investor TPG and the company’s third acquisition in the last 16 months.
According to Eric Johnson, CEO of Nintex, “With Kryon’s innovative capabilities, our strategy is to expand and deepen our platform capabilities to provide public and private sector organizations with a significant competitive advantage in the design and implementation of digital transformation processes.
“Our global team is excited to join forces with a leading software company such as Nintex, which in addition to its professional capabilities has a reputation as an excellent workplace in any region of the world,” said Kryon CEO Harel Tayeb. Of the RPA solution and the Nintex platform, to generate significant and accelerated growth and ensure that organizations realize their full digital business potential through smart automation. “
Kryon’s automation system enables organizations to integrate dedicated and automated artificial intelligence-based bots in various processes and create a quick return on investment (ROI). With Kryon’s process detection technologies companies can automatically detect repetitive workflows, visually map the main path and different versions of each process, evaluate the process’ suitability for automation and create an immediate workflow.