Prothentic, a Chinese process mining solution provider, raised CNY 135 million in its Series A+ funding round, its fourth capital raising, following its first capital raising in July. B Capital Group and Kun-lun Capital led this round of financing. Both returning investors, Hillhouse Venture and Kaitai Capital, have made additional investments.
Prothentic will put this money toward research and development, making process mining products more accessible, and working closely with Process Management professionals, consulting firms, and industry experts to find new applications.
Prothentic, founded in 2021, launched "Digital Footprint", a process management tool based on an independently developed Process Query Language engine that supports the update and access. Up to two billion line process data points can be searched and analyzed.
According to Qiang Suo, CEO of Prothentic, the "Digital Footprint" process mining has a high entry barrier. Prothentic has a team of nearly 70 people and spends CNY 30 million on R&D. They will launch a complete "Digital Footprint" upgrade in December, giving their users a better experience and empowering businesses to manage their workflow more efficiently.
Prothentic has now collaborated with nearly 20 companies, including Deutsche Bank China Resources, Yuexiu Property, Porsche China, and many internet companies, as well as over 40 proof-of-concept clients from the retailing, high-technology, and manufacturing industries. Prothentic's process management products reduced workflow processing time from 44.65 days to 4.88 days, reduced workflow paths from 93 to 30, and increased the ratio of standard workflow paths from 53% to 84%.