KnowledgeLake, an AI-powered enterprise workflow automation platform, secured a $65 million majority growth investment. Edison Partners led the funding round, with participation from KnowledgeLake management and existing shareholders. This capital infusion will accelerate the company's expansion.
Accelerating AI-Powered Automation
Kevin Herr, former COO and CFO, assumed the CEO role. Ron Cameron moved to an advisory position.
The investment targets customer success, partnership expansion, and go-to-market strategies. Furthermore, it will enhance market-leading AI capabilities for its AI workflow automation solutions. The market for automation tools is rapidly evolving. Organizations increasingly seek unified platforms combining Intelligent Document Processing, workflow automation, and AI-driven insights. KnowledgeLake's platform delivers these capabilities, differentiating it from competitors like UiPath and Automation Anywhere.
KnowledgeLake demonstrates capital-efficient growth and high customer satisfaction. The company operates in the $70 billion+ document processing and workflow automation market, serving mid-sized government agencies and enterprises. It reports over 50% year-over-year SaaS revenue growth.
The platform achieves 95% gross dollar retention and 130% net revenue retention. Over 220 customers span government, education, healthcare, manufacturing, and financial services. Notable clients include the State of Tennessee and Washington University. Customers achieve 70% faster processing and 98% data accuracy, supporting their digital transformation efforts with advanced AI workflow automation.
