Camunda, a Berlin, Germany-based open source software provider, completed an €82m (approximately $100m) funding round.
The round was led by Insight Partners with participation from existing investor Highland Europe. In conjunction with the funding, Matt Gatto, managing director at Insight Partners, will join the Camunda Board of Directors.
The company intends to use the funds to accelerate product development, sales, and marketing initiatives as part of its global expansion.
Led by Jakob Freund, CEO and co-founder, Camunda is an open source software company innovating process automation with a standards-based, highly scalable and collaborative approach for business and IT. The company enables global market leaders such as Allianz, ING, Intuit, and Vodafone to design, automate, and improve business processes end-to-end, increase business agility, and improve customer experiences.
Customers include Atlassian, Desjardins Group, Deutsche Telekom, Priceline, and Santander.