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Feb 29, 2024 513

"Business process optimization startup Scribe received $25 million investment "

#Global

"US-based Scribe's $25 million investment round included New York Life Ventures, Amplify Partners, Tiger Global, and XYZ Ventures. "

Business process optimization initiative Scribe has received a $25 million investment. Redpoint Ventures led the company's Series B investment round. New York Life Ventures, Amplify Partners, Tiger Global, and XYZ Ventures, all based in the US, participated in Scribe's investment round. Scribe announced that it will use the new investment to expand its operational area.

Founded in 2019 by Aaron Podolny and Jennifer Smith, Scribe offers a platform that allows businesses to easily document and share their internal processes. For example, when entering customer information into a CRM system at a company, this process is automatically recorded via the Scribe platform. The transaction is turned into a document containing written instructions and screenshots automatically. This document can be shared with other employees in the business, providing clear information on how processes should be completed.

On one hand, documenting and sharing processes allows businesses to identify efficiency gaps in their business processes and make improvements. By offering businesses the ability to easily document and share their internal processes, the Scribe platform makes business processes more efficient and collaborative. As a result, companies increase information sharing among employees and achieve better results by optimizing their business processes.

The company's revenues increased by 400% in 2023. Scribe works with companies operating in various sectors such as financial services, technology, healthcare, retail, manufacturing, and services.