We continue to share stories of our portfolio companies, told by their founders, highlighting the challenges and successes that lie behind their startups.
Back in July, Vibranium.VC added a new company to its portfolio by investing in the Intelligent Automation platform HuLoop Automation. For HuLoop, it’s the fifth recent VC investment as the company aims to attract $4M in total in the Seed round.
In this post, we will dive deeper into the HuLoop Automation story told by its CEO Todd P. Michaud, and reveal what sparked the idea of the startup, what strategies the startup is using to ensure its business stays strong and successful, and why working at HuLoop Automation is a lot of fun.
The story behind HuLoop Automation
Most enterprises have a people problem. Their employees, especially individual contributors, are forced to dedicate as much as 30% of their time to highly repetitive, mundane work that could easily be automated. Additionally, in this exceptionally tight labor market, it is harder than ever to acquire the necessary talent to keep up with customer demands.
As a result, today’s organizations are turning to intelligent automation to create a low-cost, highly efficient, and accurate digital workforce that can free up their employees’ time, allowing them to focus on more valuable tasks.
Before HuLoop Automation, most intelligent automation initiatives failed because previous-generation solutions were too complex, time-consuming, and expensive. HuLoop Automation believes that automation must be radically simple, fast, and affordable. Its unified, no-code automation platform democratizes advanced AI-powered capabilities for businesspeople, reducing dependency on technical experts and consultants.
Choosing the field
Some enterprises are unable to achieve their digital transformation goals, despite making massive investments and undergoing arduous projects involving enterprise software platforms.
Most enterprises are only realizing 35% coverage against their functional needs from these platforms. 65% of work is happening in between enterprise software, either manually, via email, instant messaging, or documents like Excels or PDFs.
We aim to help these businesses significantly increase the coverage on their functional needs through intelligent automation without displacing existing software.
Until now, as enterprises have increasingly been pressured to automate their business, they had been limited to first generation Robotic Process Automation vendors or Business Process Management platforms. HuLoop seeks to disrupt this $600B software market with a first-of-its-kind “Unified Automation” platform where we can provide a full arsenal of advanced AI-powered automation capabilities on a single, modern, and affordable platform. Enterprises are looking to harmonize their human workforce with their automated digital workforce, and HuLoop Automation accomplishes this with integrated “human-in-the-loop” capabilities to leverage the cognitive capabilities of human workers while increasing their productivity.
As a fast-growing innovation company, the startup tends to attract people who want to have a role in inventing the future. They have amazing work-ethics, and they know that their contributions can make a huge difference in our customer’s businesses and our own. We believe that if work is fun, it really isn’t work at all, is it? At HuLoop Automation…work is a lot of fun!
The company places significant emphasis on key aspects within its organization and from a customer-facing standpoint. These significant factors revolve around satisfied customers and dedicated individuals. Central to its accelerated growth compared to competitors is our team, which dedicates itself to being a pleasant business partner, thereby fostering commercial friendliness.
The startup is committed to enabling our customers to achieve transformative ROIs, frequently yielding returns as high as $20 for every $1 invested in the platform.
I have always been confident that our start up would make it. I have never doubted that for a minute. Similar to other companies, we go through periods of challenges and successes, yet our positive experiences far outweigh the negative ones. Furthermore, whenever we do encounter a setback, we swiftly extract valuable lessons from it.
Viewpoint spanning five years
While we have strong adversaries, all of whom we respect, we intend on being a highly successful, disruptive force in our market. This means that we have no choice but to attempt to become the undisputed innovation leader in our space. This will translate into HuLoop Automation being a sizable, global software business with hundreds, it not thousands of raving customer fans. We will be a great place to work, and all our associates will feel appreciated and valued. Importantly, our investors and shareholders will be proud of the company we have built too!