Tray.iois a next-generation automation/integration software manufacturer that wants to own the emerging hyperautomation sector. We plan to do this by delivering new low-code automation tools via IPaaS (Integration Platform as a Service) and upgrading legacy systems into faster, ultra-automated units.
The San Francisco-based company, which recently celebrated its 10th anniversary, today revealed an influx of $40 million in new VC funding…Business Users. “This puts power in the hands of his members, the team best suited to solve the problem,” his CEO and co-founder Rich Waldron told his ZDNET.
What exactly is hyperautomation? This is similar to his DevOps, which combines the power of development and operations to speed and automate software production. Hyperautomation is a disciplined, business-driven IT approach used to rapidly identify, probe, and automate as many business and IT processes as possible. This includes rapid orchestration with his SaaS of multiple technologies, tools or platforms, including artificial intelligence (AI) and machine learning.
An example of a current use case for hyperautomation involves understanding documents using OCR (Optical Character Recognition). Read multiple emails quickly using NLP (Natural Language Processing). Use AI/ML to predict inventory and power automation flows.
Tray.io’s highly scalable cloud service enables line-of-business and technical users to connect disparate systems and build hyperautomated workflows. For example, team members who need to solve the challenges of departmental processes such as revenue operations, HR onboarding, quote-to-cash loans, and IT user provisioning may need third-party We no longer need to rely on parties (including testing, error handling, logging, resilience, cost, and security).
Waldron told ZDNET that the Tray.io platform not only sets up systems to use hyperautomation, but also helps solve the unintended consequences of digital transformation.
“Digital transformation and the move to the cloud have forced enterprise architectures to take advantage of the scale, resilience, and economics available today, exposing the shortcomings of traditional approaches to iPaaS,” said Waldron. said. “Legacy products result in outdated structures such as manual provisioning, limited scale, long development cycles and heavy maintenance.
“Our goal is to create a world where anyone in any department can solve business problems without being constrained by less adaptable technology.”
Gartner Research claims that the need for hyperautomation is creating a total software market that will reach $860 billion by 2025.
Waldron said Tray.io’s new $40 million in funding will be primarily used to develop new products. Investors include Canada Pension Plan Investment Board (CPP Investments), True Ventures, GGV Capital, Spark Capital, Meritech Capital Partners, Stepstone Group, and Tray.io’s total VC funding of his $191 million million dollars.
https://www.zdnet.com/article/why-tray-io-wants-to-put-hyperautomation-on-the-it-map/#ftag=RSSbaffb68 Why Tray.io Wants Hyperautomation On The IT Map