- FlowX.ai, a company specializing in helping large enterprises streamline their internal processes through digitization, raises $35M in a round that marks the largest Series A in the Romanian startup ecosystem, Sifted reports. Besides that, the round is also the largest Series A globally in enterprise software in the last two years and the third largest Series A in tech in the last two years.
- In November 2021, the startup raised $8.5M, which even back then was above the average seed funding rounds in Central and Eastern Europe.
- Led by London-based venture capital firm Dawn Capital, the latest investment surpasses the previous record held by UiPath, Romania‘s automation giant and unicorn, which raised a $28.5M Series A in 2017.
FlowX.ai’s latest funding is a two-times record-breaker as it is also the largest Series A in the enterprise software sector in the last 18 months, according to the startup.
Alongside Dawn Capital, the Series A round was also joined by existing investors including Hungary’s Day One Capital and PortfoLion, as well as Romania’s SeedBlink.
FlowX.ai is keen to forge strategic partnerships, with ongoing discussions indicating potential collaborations with industry leaders such as IBM and Kyndryl. The company has already gained traction among major financial institutions, including Hungary’s OTP banking group, Romania’s Banca Transilvania, and Greek Alpha Bank.
This funding will fuel FlowX.ai’s expansion plans, meet growing demand, and enable the development of new AI-based solutions.
The need to empower enterprise digitization
As Ioan Iacob, co-founder and CEO of FlowX.ai, shared with The Recursive in our podcast episode, the key behind building the startup was finding a precise niche of opportunity to bring value to people:
“This is the problem that we’ve been seeing, it’s the same pattern over and over again: companies being completely stuck and prevented from building amazing things. And it’s the core revival trend that we’re enabling: being able to provide digital, modern, beautiful experiences for users and employees, without having to change their legacy stack, giving it a new life instead,” Iacob highlights.
Founded in 2020 by three serial Romanian founders, FlowX.ai has already made a name in the enterprise software sector by offering a comprehensive solution that allows companies to integrate all their existing systems onto a single platform.
By leveraging AI, FlowX.ai empowers businesses to develop modern digital products without the need for complex changes to legacy technology or deep tech expertise. This streamlined approach is not only faster but also more cost-effective compared to traditional digitization processes, reducing implementation times from months to a matter of weeks.
The company’s AI-driven UI generator and ZeroRedeploy™ technology enable instant changes across multiple platforms, facilitating a seamless integration of existing infrastructure.
This is a story in development. Stay tuned for more details.