Israeli AI robotics company Kryon Systems is set to more double its workforce. With offices in New Jersey, the Tel Aviv based company specializes in process automation tools and in particular Robotic Process Automation (RPA). Kryon currently has 50 employees (35 located in Israel) with plans to hire 60 additional employees in the coming months, including 30 positions for its R&D center in Israel.
The expansion follows a $12 million Series B financing round last month led by Aquiline Technology Growth (ATG) and Vertex Ventures.
Kryon's patented software solution offers a virtual, digital workforce consisting of software robots which can perform any rules-based, repetitive process. ultimately removing these tasks entirely from the day-to-day workflow of enterprises. The results include increased productivity, reduced error rates, and lower operating costs, but more importantly enables companies to focus on their core business.
Kryon CEO Harel Tayeb said, "I have no doubt that Kryon's proprietary technology will revolutionize the way people work and manage processes in diverse industries, particularly in the insurance and financial sector. In view of the explosive demand for this technology, we are planning to double our manpower by the end of the year. We are looking for talented, driven individuals to join us in leading the development of next generation AI robots for the enterprise market."
Kryon VP human resources Michal Gershon-Sobol said, "We are actively seeking passionate, highly-skilled professionals who want to make a difference in this exciting and challenging industry. The new employees will play a significant role in the design, development and marketing of the company's next-generation AI solutions."
Kryon's platform replaces the manual, burdensome work of and allow employees to concentrate on tasks that require human insight for their decision and execution. The company's flagship Leo platform enables the efficient and accurate execution of business processes across all enterprise applications. Among its clients are a large number of Fortune 500 organizations.
RPA is being used to augment or replace traditional workforce operations across all industries with considerable cost savings, improved efficiencies, and reduced errors using Kryon's platform.
The company's revenue has grown 300% over the last three years. RPA market researchers estimate growth of 60% CAGR to reach $5 billion in 2020. 28% of companies worldwide have already adopted the technology.
Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2017
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