“Seeing the variety of use cases has been exhilarating. It’s a testament to the importance of listening to our customers, adapting to their needs, and continuously pushing the boundaries of our technology,” says Serge Gusev, CEO and co-founder of Approveit. This enthusiasm underscores the recent achievement of Approveit, an innovative operations and automation platform that has successfully closed a $1 million funding round. The investment comes from notable players such as 10vc, Verras Capital, Telegraph Hills Capital, and other prominent angel investors.
Approveit, founded in 2020 by Dmitry Matveev and Serge Gusev, is designed to tackle a critical challenge faced by businesses today: inefficient workflow processes. The platform’s seamless integration with existing systems and its focus on AI-driven automation are set to transform how businesses manage their operations. In a landscape where managers often juggle over ten systems for data and requests, Approveit stands out by offering a unified solution that enhances efficiency and reduces errors.
The pressing need for such a solution is evident in the market’s growing demand for automation software. Companies worldwide struggle with inconsistent execution of standard procedures across departments, making it challenging to track changes and manage audit processes effectively. Approveit addresses these pain points by streamlining workflows and integrating with tools like email, Slack, and Microsoft Teams. The result? A potential saving of up to $2 million annually on operational inefficiencies and human errors, as reported by the company’s customer surveys.
🚀 Big News! 🚀
— Approveit 🚀 (@APPROVEIT_) August 15, 2024
Dmitry from @APPROVEIT_ here. We’re launching on @ProductHunt today with major updates!
🛠️Tasks in Slack / Microsoft Teams
🔗Integrations with Xero/QuickBooks
📊Customizable Dashboard
💼New Free Plan & $89 Easy-peasy Plan.
Join us & grow together! pic.twitter.com/o8sURtg93c
With the new funding, Approveit aims to attract more clients and refine its technology platform. The goal is ambitious: achieving $1 million in annual recurring revenue (ARR) by March 2025. “Our mission is to help businesses thrive, and we believe that workflow automation should be accessible for businesses of all shapes and sizes,” says Dmitry Matveev, CTO and co-founder. The company plans to leverage insights from over 100,000 customer requests to build a machine learning model that will provide even deeper insights into process improvements.
Approveit’s quick setup—taking just five minutes—and its ability to automate workflows across departments from finance to HR, make it a compelling choice for mid-sized businesses. By providing real-time process control and data consolidation, Approveit empowers organizations to make swift, informed decisions.
As Approveit continues to expand its reach and enhance its technology, it remains committed to its core mission: making workflow automation accessible and effective for businesses of all sizes. The company’s rapid growth and innovative approach position it as a key player in the evolving landscape of operational efficiency.
In the words of Serge Gusev, “Our engagement with clients has expanded our vision of Approveit’s potential and deepened our understanding of diverse industry needs.” As Approveit looks to the future, it is clear that its dedication to solving real-world challenges and its customer-centric approach will drive its continued success in the automation space.
