About Roots Automation
Roots Automation is a company based in New York (United States) founded in 2018 by John Cottongim and Chaz Perera.. Roots Automation has raised $43.95 million across 5 funding rounds from investors including Erie Insurance, Harbert Management and MissionOG. Roots Automation offers products and services including AI Agents, InsurGPT, Cockpit, and Workflow Orchestration. Roots Automation operates in a competitive market with competitors including Earnix, WorkFusion, Figorr, Wenalyze and Percayso Inform, among others.
- Headquarter New York, United States
- Founders John Cottongim, Chaz Perera
-
Sectors
Financial ServicesTechnology
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Roots Automation, Inc.
- Jurisdiction Bengaluru, Karnataka, India
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$43.95 M (USD)
in 5 rounds
-
Latest Funding Round
$22.2 M (USD), Series B
Jun 28, 2024
-
Investors
Erie Insurance
& 5 more
-
Employee Count
Employee Count
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Roots Automation
Roots Automation offers a comprehensive portfolio of products and services, including AI Agents, InsurGPT, Cockpit, and Workflow Orchestration. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Tools for automating insurance tasks like claims and underwriting.
Insurance-specific AI for data processing and decision support.
Platform for overseeing AI activities and workflows.
System for multi-tool process automation in insurance.
Unlock access to complete
Funding Insights of Roots Automation
Roots Automation has successfully raised a total of $43.95M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $22.2 million completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series B — $22.2M
-
First Round
First Round
(13 Oct 2020)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Series B - Roots Automation | Valuation | Harbert Management | |
| Jan, 2024 | Amount | Series A - Roots Automation | Valuation |
investors |
|
| Sep, 2022 | Amount | Series A - Roots Automation | Valuation | MissionOG |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Roots Automation
Roots Automation has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Erie Insurance, Harbert Management and MissionOG. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Growth-stage US companies are invested in by MissionOG.
|
Founded Year | Domain | Location | |
|
Early-stage investments are made in insurance technology by this firm.
|
Founded Year | Domain | Location | |
|
Vestigo Ventures is focused on investing in AI and FinTech startups.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Roots Automation
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Roots Automation
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Roots Automation Comparisons
Competitors of Roots Automation
Roots Automation operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Earnix, WorkFusion, Figorr, Wenalyze and Percayso Inform, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI based marketing analytics and data monitoring solutions for insurers and banks
|
|
| domain | founded_year | HQ Location |
Provider of robotic process automation and chatbot solutions to automate work processes
|
|
| domain | founded_year | HQ Location |
Temperature monitoring solutions are delivered through a cloud-based platform.
|
|
| domain | founded_year | HQ Location |
AI-based data analytics solutions for the commercial insurance and banking sectors
|
|
| domain | founded_year | HQ Location |
Data and pricing solutions are provided to insurers and brokers.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Roots Automation
Frequently Asked Questions about Roots Automation
When was Roots Automation founded?
Roots Automation was founded in 2018 and raised its 1st funding round 2 years after it was founded.
Where is Roots Automation located?
Roots Automation is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Roots Automation?
Chaz Perera is the current CEO of Roots Automation. They have also founded this company.
Is Roots Automation a funded company?
Roots Automation is a funded company, having raised a total of $43.95M across 5 funding rounds to date. The company's 1st funding round was a Series A of $10M, raised on Oct 13, 2020.
What does Roots Automation do?
Roots Automation was founded in 2018 in New York, United States, focusing on the insurance sector. AI technology is utilized to create digital coworkers that automate operational tasks. Detailed task flows are generated from text or speech inputs. Services encompass insurance underwriting, claim support, loss reporting, document indexing, and AI-assisted application reviews. Operations are centered on enhancing efficiency in insurance workflows.
Who are the top competitors of Roots Automation?
Roots Automation's top competitors include WorkFusion, Earnix and Percayso Inform.
What products or services does Roots Automation offer?
Roots Automation offers AI Agents, InsurGPT, Cockpit, and Workflow Orchestration.
Who are Roots Automation's investors?
Roots Automation has 6 investors. Key investors include Erie Insurance, Harbert Management, MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.