Nintex, which develops an intelligent automation suite used by more than 8,000 clients across 90 countries, today announced that it has acquired Orlando, Florida-based robotic process automation (RPA) provider EnableSoft for an undisclosed sum.
Foxtrot’s roughly 20-person workforce will join the Nintex team “as quickly as possible,” Nintex CEO Eric Johnson said, bringing the latter to over 500 employees globally.
“Acquiring EnableSoft … delivers on Nintex’s strategic plan for offering the industry’s most complete process platform to manage, automate, and optimize business processes across all departments and industries,” he said, adding that he expects the deal will help Nintex’s revenue top $150 million this calendar year. “[It] aligns perfectly with our product design principles: to make solutions that are powerful and easy-to-use, drive fast time-to-value, lowest total cost of ownership, and incredible satisfaction.”
Much like other RPA platforms on the market, EnableSoft’s software-as-a-service (SaaS) solution — Foxtrot — offers a no-code library of hundreds of actions that enables managers to build automations for desktop apps, web apps, Excel workbooks, PDF forms, and more. Autonomous software bots (“Foxbots,” in EnableSoft parlance) execute those automations (individually or in teams) on the fly, while a web-based dashboard (Foxhub) tracks their statuses and queues up new jobs.
According to EnableSoft, hundreds of customers in financial services, banking, health care, and other industries use Foxtrot, including SeacoastBank, Basico, and Rytech.
“I couldn’t be more excited for our employees, partners and customers to join the Nintex global community,” EnableSoft CEO and founder Richard Milam said. “It was always my vision for our powerful and easy-to-use [RPA] platform to be leveraged by enterprise organizations worldwide. With Nintex’s strength and market leadership, this dream has been realized. We’re all looking forward to what organizations across every industry will be able to achieve with Foxtrot RPA as part of the Nintex Platform, as well as what EnableSoft customers will do with the impressive process management and process automation capabilities that Nintex offers.”
The acquisition follows on the heels of Nintex’s strategic partnership with Adobe, which saw native electronic signatures come to its Nintex Sign platform. It’s the company’s third acquisition since its founding in 2006 (and its second under lead investor Thoma Bravo), following its purchase of New Zealand business automation firm Promapp in July 2018 and Irvine, California-based workflow automation startup Drawloop in July 2015.
Nintex claims it has over 8,500 enterprise customers across more than 90 countries, and that its cloud software handles more than three million workflow applications in production and billions of executions annually.
RPA — software that automates monotonous, repetitive office chores traditionally performed by human workers — is big business. Forrester projects that it and other fields of artificial intelligence (AI) will create jobs for 40 percent of companies next year, and that a full one-tenth of future startups will employ more digital workers than human ones. Moreover, some analysts project the RPA market will be worth a whopping $3.11 billion by 2025.
The Venture Beat article can be found here.