By Jim Lundy
(Aragon Research) – Workflow and Content Automation (WCA) is a new software category emerging from the larger market that Aragon identified in 2014 called Digital Transaction Management (DTM).
Two DTM providers, HelloSign and Intelledox, recently announced new funding rounds of $16 million and $3 million, respectively, as demand for WCA comes online. This blog discusses WCA and why investors are looking at WCA as a new breakout digital business category.
The Rise of Workflow and Content Automation: The End of Forms
WCA emerged in 2016 because enterprises needed a way to automate document processes before a document became a signed digital transaction.
Aragon believes that automating the content creation and routing process is the next step beyond static documents, also known as forms. We identified WCA after watching the DTM market for the last three years (see our research note titled WCA: The Smart Way Forward).
WCA will consume and replace standalone offerings for Workflow and Document Generation (also known as Customer Communication Management or CCM). Some of the early pioneers in WCA include Nintex, ThinkSmart, Intelledox, and HelloSign.
HelloSign Raises $16 Million B Round
HelloSign, based in San Francisco, began in the fax business, then added e-signature capabilities and most recently, introduced HelloWorks, which is its WCA platform.
We believe that HelloWorks is one of the reasons most of the original investors (U.S. Venture Partners, Greylock Partners, Keith Rabois, Joshua Reeves, Paul Buchheit, and Webb Investment Network) doubled down for the B round.
The other reason is that former Box CMO Whitney Bouck is now the COO of HelloSign. Whitney was one of the key executives at Box who helped execute the way to an IPO—and all signs indicate that she is pushing HelloSign in the same direction.
Intelledox Raises U.S. $3 Million Round
Intelledox, which started life in Canberra, Australia, touched down in the U.S. in 2015. It has seen fast growth in North America, in part due to its Infiniti platform, which represents what Workflow and Content Automation is all about. Before taking on the additional round, Intelledox added an experienced operator, Ray Kiley, as CEO. The round, which is AUD $4 million, comes from Ellerston Capital.
Enterprises have been looking for a replacement for legacy forms and document generation tools and Intelledox has been there to provide the solution. Its recent partnership with DTM leader DocuSign should help Intelledox continue to grow.
Bottom Line
As the race to digital continues between Nintex, ThinkSmart, Intelledox, and HelloSign, enterprises need to convert their existing document processes to be automated. We believe that Workflow and Content Automation is the new way forward.
Enterprises need to step back from their legacy forms processes and explore how they can be automated, so that knowledge workers can spend less time creating documents and more time interfacing with customers. Developing…