B Capital, Kunlun back China process mining start-up

It is said to be the largest round in China’s process mining space, which encompasses a range of disciplines related to big data services and business automation.

Existing investors GL Ventures and Kaitai Capital also participated. GL invested in the first tranche of the Series A earlier this year, while Kaitai provided a pre-Series A in 2021.

Process mining involves enterprise health checks followed up by robotic process automation (RPA) improvements. In China, many corporations have historically skipped the initial health check and go directly to RPA applications, but the trend is said to be reversing.

Prothentic has a team of 102, 70% of whom are R&D personnel. CEO Qiang Suo is the former head of process mining at software company UiPath Asia Pacific. CTO Jinfeng Li previously worked for IBM Research Institute, while COO Tianyu Yu was a senior sales manager for SAP and Cisco.

The start-up collects and cleans information stored in enterprises’ various IT systems, identifying loopholes, defects, and bottlenecks that deviate from standard processes. It also conducts continuous monitoring to help companies make ongoing improvements.

Prothentic claims that after one year of use, its technology allows companies to reduce the processing time of customer complaints from 45 days to five days. In one example, the number of process paths in this function was reduced from 93 to 30.

There are almost 20 customers, including Deutsche Bank, China Resources Group, Yuexiu Real Estate, Porsche China, and several large internet companies. There are also about 40 non-paying proof-of-concept customers.

The fresh capital will be used for product R&D and market expansions. There are also plans to create more industry scenario solutions through cooperation with partners such as process management design experts, consulting companies, and industry experts.

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• Topics
• Greater China
• Technology
• Early-stage
• China
• B Capital
• GL Ventures