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ElectroNeek™ reported its 2020 business results posting a 400% increase in its annual software license revenue compared to 2019. The growth has been powered by an increased demand for business process automation and digital transformation by American mid-market companies and by increasing ElectroNeek's presence outside of the United States, including into areas such as India and the LATAM region. Earlier in 2020, the company was named RPA Momentum market leader by G2, along with UiPath and Automation Anywhere, and had become the youngest company in the Everest Group's RPA PEAK Matrix. To fuel further global growth, the company plans to attract a new round of venture funding in 2021.
In his reflection on the results of 2020, ElectroNeek's CEO Sergey Yudovskiy addressed his team, users, clients, and investors:
"Our accelerating global growth is a product of ElectroNeek's diverse team, working in almost all of the time zones around the globe, making Robotic Process Automation accessible to mid-market and smaller companies no matter where they are. A big Thank You to everyone who worked with us this year as well as to those who have just embarked on their automation journey with ElectroNeek - your talent and dedication is what fuels better customer and user experience.
In 2020, we brought in clients from 12 new countries, significantly increasing the number of languages that our customers and team members speak. Thanks to everyone who joined ElectroNeek's family of clients and partners, we are grateful for the opportunity to build the future of work together.
In 2021, we will see a greater focus on regional market leadership in several automation hubs in addition to North America, including localization and multilanguage features of our products, support services, and partner relations. We are making these investments to lower the barrier for automation business in India, Latin America, and other countries where we already have success stories and regional teams. Our international growth in 2021 also means that we will create a dedicated European office to work with EU and UK&I clients, as well as establishing a presence in the Middle East.
In the US, we will continue to build relationships that make business automation a better experience for companies of all sizes, partnering with such industry leaders as Sage and expanding product integrations with Zapier."
To fuel further growth and product innovation, ElectroNeek's Robotics is considering attracting additional venture capital on top of its $3.2M of earlier VC funding. The goal is to start exploring such opportunities in the first half of 2021.