Camunda raises 82 million euros

The Berlin-based start-up focuses on the automation of companies and is one of the winners of the coronavirus pandemic with its model. It intends to use the money to drive its expansion.

Open source software provider Camunda has raised 82 million euros in a financing round. The Series B round was led by Insight Partners and also included Highland Europe. The venture capitalist was also involved in the first round of 25 million euros in 2019.

The start-up digitizes and automates companies. "Today's financing round underlines the enormous value that our software offers users and customers in process automation every day," says founder and CEO Jakob Freund of Camunda. The start-up intends to invest the money primarily in expansion and further product optimization.

Camunda's customers include Airbus, Deutsche Telekom and Axa. According to the company, 2020 was Camunda's best financial year, mainly because automation became particularly important for companies due to the coronavirus pandemic. Insight Partners is not only investing in the Berlin start-up, but will also support the company itself in its future development.