Opkey claims its platform ‘considerably reduces’ the effort and time required by firms to check ERP functions through the use of AI and machine studying.
Opkey, a start-up that has constructed an AI platform to assist firms take a look at software program, has raised $47m in Collection B funding led by progress fairness agency PeakSpan Capital.
Headquartered in California, Opkey goals to make sure firms can constantly deploy new and up to date software program and processes by offering a testing platform for finance, HR and different cloud-based enterprise useful resource planning (ERP) software program.
In an announcement yesterday (22 August), Opkey stated that the newest funding will assist the start-up develop its gross sales and advertising groups and broaden its market presence globally. It would additionally spend money on additional product growth.
Cloud ERP techniques are more likely to be the most important progress driver of the SaaS business over the following decade, in response to Bloomberg. Cloud ERP, which incorporates finance, planning, procurement and asset-management functions, is predicted to turn out to be a $73bn market by 2026, and Opkey desires to benefit from this progress with its AI platform.
“Opkey’s AI-driven platform empowers chief info officers (CIOs) to make sure profitable ERP transformation and modernisation programmes by revolutionising the best way enterprises method cloud ERP migration,” stated Pankaj Goel, CEO and co-founder of Opkey.
“This funding will enable us to additional improve our know-how and broaden our attain, serving to extra organisations seamlessly migrate their legacy ERP techniques to the cloud whereas guaranteeing steady high quality and efficiency, given its criticality to enterprise outcomes.”
Opkey claims its platform “considerably reduces” the effort and time required by firms to check ERP functions by leveraging the ability of AI and machine studying. The beginning-up at present has greater than 200 enterprise prospects, greater than 70pc of that are Fortune 1000 firms. It additionally companions with massive techniques integrators corresponding to KPMG, Huron and PwC.
“Options like Opkey’s are mission important for attaining steady assurance within the supply of know-how that yields optimum enterprise outcomes,” stated Sanket Service provider, associate at PeakSpan Capital.
“We couldn’t be extra energised to assist Opkey’s imaginative and prescient for ERP Ops, which is able to assist CIOs with their ERP transformation and modernisation initiatives by offering a typical knowledge material, resilience of their know-how technique and optimise desk stakes enterprise efficiency.”
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