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Dec 23, 2024, 04:11 ET
AI-Based Intelligent Automation Leader to Accelerate Innovation, Invest in Customer Success and Expand Market Reach
AUBURN, Calif., Dec. 23, 2024 /PRNewswire/ — HuLoop Automation, the leader in radically simple, fast, and affordable AI-powered intelligent automation, today announced the successful closing of its Series A funding round. While the specific terms aren’t being announced publicly, the round was led by San Francisco, California-based Mighty Capital, with significant participation from Folsom, California-based Moneta Ventures, which led HuLoop’s prior round.
This funding marks a major milestone for HuLoop as it accelerates its mission to simplify automation and empower businesses in key underserved segments like banks, credit unions, collections and retail enterprises. The investment will fuel the expansion of its team, enhance its unified automation platform, and drive customer growth and expansion.
“At HuLoop, we are committed to transforming key industries by making intelligent automation radically simple, fast, and affordable for businesses of all sizes,” said Todd P. Michaud, CEO of HuLoop Automation. “This latest round positions HuLoop to achieve even faster growth, faster innovation, and greater benefits for our customers.”
“HuLoop’s innovative approach, which blends cutting-edge AI with human-in-the-loop processes, represents the future of intelligent automation. Mighty Capital invests in companies with exceptional products because we believe the best product wins, and HuLoop is no exception,” said SC Moatti, Founder and Managing Partner at Mighty Capital.
Moatti, who also founded Products That Count, a large, global network of product managers, leverages this network to identify and invest in emerging innovation companies with strong product-focused strategies. “Our members are very focused on vertical AI solutions, particularly those centered on shaping the future-of-work and we believe that HuLoop is well-positioned to fill this market need,” said Moetti.
HuLoop defines its Unified Automation Platform as a single, integrated solution that combines multiple automation technologies—such as robotic process automation (RPA), workflow orchestration, intelligent document processing, and testing—into a cohesive system. This platform enables organizations to streamline complex business processes, reduce manual effort, and drive efficiency across the enterprise, while ensuring human-in-the-loop oversight to balance automation with human judgment. The company has grown rapidly over the past two years, now serving more than 60 customers primarily in the financial services and commerce sectors.
“HuLoop’s success in the community banking sector reflects a pragmatic, cost-effective approach to technology adoption for productivity gains,” said Charles Potts, executive vice president and chief innovation officer for the Independent Community Bankers of America. “By combining automation with human intelligence, their human-in-the-loop process streamlines mundane tasks, allowing staff to focus on more critical customer interactions.”
The capital infusion will be primarily focused on helping HuLoop to accelerate product innovation, invest in customer success, and expand its market reach, helping customers’ companies unlock their productivity potential.
“I’d like to thank Mighty Capital, Moneta Ventures, our Founding Stakeholders, and all our investors for their belief and confidence in HuLoop. Your financial and strategic support is going to help us deliver innovative automation solutions that drive more success for our clients,” said Michaud.
About HuLoop Automation
HuLoop Automation delivers AI-powered intelligent automation solutions designed to boost productivity for companies of all sizes. Its Unified Automation platform provides businesses with tools to discover, automate, and test processes seamlessly. The platform includes three core modules: Intelligent Productivity Discovery, which empowers organizations to identify and prioritize automation opportunities with actionable insights; Intelligent Process Automation, which streamlines workflows by automating repetitive, manual tasks across systems and departments; and Intelligent Test Automation, which enhances quality assurance with automated testing for software, ensuring faster deployment cycles and higher reliability.
HuLoop’s no-code platform leverages advanced technologies such as process and task mining, robotic process automation (RPA), intelligent document processing (IDP), workflow, automated testing, using applied and generative AI, and complemented by human-in-the-loop features. These innovations enable businesses to achieve new levels of efficiency and success, empowering their workforce to focus on high-value tasks and drive transformative outcomes.
Media Contact:
Erin Leventhal
(858) 522-0357
erin@huloop.ai
SOURCE HuLoop Automation, Inc.