Maker of team collaboration and work-flow automation software, Process Street recently announced a US $1.3 million in capital for its seed round led by Australian venture capital firm Blackbird Ventures.
The Process Street application is a complete platform for workflow automation, business process management and reporting. The version 2.0 app — rolled out after a year of continuous development — includes a lot more functionality such as: a user-interface built from the ground-up; former builder and automation; task assignments and due dates; run links and checklist sharing; Zapier, Google Apps, and Yammer integrations, ease in completing tasks and checklists.
The app allows users to not only create procedural documents but actually execute those processes as checklists, collect data and automate tasks across teams and other applications. Teams can also bring in external parties to complete these processes. For example, they might bring in clients for requirement gathering, or their lawyer to approve a contract.
Enterprise customers use Process Street’s secure work flow platform for client and employee on-boarding, content approvals, quality assurance, sales demos and proposals, internal audits and more.
The funding will enable Process Street to keep developing its workflow automation software— which has been adopted by over 90,000 users, including enterprises such as British Telecom, H&R Block, Autodesk, and other thousands of small businesses.
This is Process Street’s first round of financing after graduating from AngelPad, the number one Startup Accelerator in the US. As part of AngelPad’s session 8, Process Street worked alongside ex-Googler Thomas Korte who mentored the founders and provided personal capital to get the idea off the ground.
Blackbird Ventures is one of Australia’s leading venture capital firms, investing in Australian internet-powered businesses that have a global outlook. Past investments include Canva at a $345 million valuation, Autopilot at a $25.5 million in funding and Elto (acquired by GoDaddy).
We have been using Process Street for our own investee onboarding processes. So we have experienced first-hand, the value this provides to customer-facing teams. We’re excited to be on the journey to empower all businesses with workflow management— something in the past limited to large corporates running enterprise software platforms.
said Bill Bartee, partner at Blackbird Ventures.
Vinay Patankar, CEO of Process Street comments:
Process Street is so easy to use that we get a ton of users jumping on to create a daily or weekly task lists. With this funding we’re going to continue development of the product to handle more complex business processes and help managers gain deeper insights into their team’s activities.
The funding will be used primarily to grow the engineering team for faster product development and to help grow and monetize the customer base.