Bratislava-based process mining software provider Minit has raised seven million euros in a Series A funding round, led by Target Global, with participation from Salesforce Ventures and existing investors, Earlybird’s Digital East Fund and OTB Ventures.
Founded in 2017, Minit builds intuitive process mining software that gives its enterprise customers insight into complex processes – such as order-to-cash, procure-to-pay, customer journey or service delivery – and how these can be improved.
Minit highlights opportunities for continuous process improvement and makes it easy to pinpoint and understand the sources of inefficiency – such as bottlenecks, or compliance violations – and their root causes, ultimately showing how customers can boost their revenues and reduce costs.
”Minit’s mission is to create fully transparent operations for large enterprises based on what is really going on in their business,” said Rasto Hlavac, founder and CEO at Minit.
“We empower people at every level to understand what is going on in the organisation, and more importantly how they can make it better. We’re lucky to have the extensive operational experience of Target Global and strategic reach of Salesforce Ventures now supporting us, and we’re excited to see our next phase of growth.”
Yaron Valler, general partner at Target Global, added: “With a superior product that is already leading in a rapidly growing market, Minit’s potential is significant. Across every industry, businesses require the functional tools to streamline operations, and Minit’s easily integrated tool that empowers anyone in the business to visualise how they can improve their operations is impressive.
“We’re excited to be supporting the company in its next stage of growth and global expansion.”
Minit currently has teams in Bratislava, London and Eindhoven. The funding will facilitate further product development and expansion into new markets, including the US.