Durham’s ‘low code’ ProcessMaker acquires ‘next-generation’ intelligent content platform

DURHAM – Nineteen months after raising a whopping $45 million in financing, ProcessMaker is continuing to scale with its latest acquisition.

This week, the Durham-based low-code process automation software firm confirmed it has bought intelligent content platform Doculayer, based in Amsterdam, The Netherlands.

ProcessMaker said the purchase adds “next-generation” intelligent document processing (IDP) to its business process management platform. Doculayer processes and manages unstructured information, such as scanned documents and images, using innovative artificial intelligence and machine learning technologies.

The exact terms of the deal were not disclosed.

“A large portion of our customers are still plagued by inefficiencies around documents, images, and emails that prevent them from gaining efficiencies from automation,” said Brian Reale, CEO of ProcessMaker, in a statement.

“Doculayer has processed more than 500 million documents for some of the world’s leading brands across dozens of highly complex process-use cases. We are thrilled to welcome the highly skilled Doculayer team and the opportunity to bring further innovation to the world of process automation.”

Founded during the dotcom boom and bust of 2000 by Reale and Bobby Vernon, ProcessMaker provides low-code digital process automation. It focuses primarily on mid-market banking, higher education, and manufacturing. Customers include community banks, multi-nationals, and more than 150-plus universities.

The duo bootstrapped the company until February 2021 when it landed $45 million in financing from Aldrich Capital Partners. Today, its partner network is spread across 35 countries on five continents with roughly 200 employees worldwide.

The global industrial automation market is projected to reach $395.09 billion in 2029, jumping 9.8% during the forecast period, reported Fortune Business Insights. Meanwhile, some analysts estimate the average full-time equivalent company with 1,000 employees wastes $3.1 million per year searching within its data sources.

“What ProcessMaker is doing with the acquisition of Doculayer is completing the picture by adding intelligence from documents alongside their proven modeling, orchestration, and automation,” said Richard Smit, founder and CTO of Doculayer.

“This provides a complete process improvement vision to tackle the toughest process challenges faced in the enterprise.”