Hayward, CA. ; 3/2/20
Amount Funded: $45 Million
Type: Series B (2nd phase)
Lead Investor: CDK Global
Participating Investor(s):GV, Silicon Valley Bank, Lux Capital, Kleiner Perkins, Baidu, Tyche Partners, Icon Ventures, Steve Wozniak
Total cume funding : $120 million
Ripcord is transforming the $62 billion records management, RPA, MPS, and ECM space through robots that scan, index, and categorize paper records, making them searchable in the cloud and integrated into existing business processes while better enabling RPA.
What funding will be used for:
Expand offerings, transform additional vertical markets in North America and around the world.
“Once you pick a car, all you want to do is drive it off the lot, but today, there is a mountain of repetitve paperwork and manual data entry blocking the exit. Together with CDK’s expertise in automotive and our unmatched digitalization capabilites with intelligent robotics and cutting edge software, we are going to get new car owners on the road more quickly and help dealers perfect compliance and earn greater margins.”
-Alex Fielding, founder and CEO, Ripcord
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