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John Wang
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Finance
November 27 19:55

Workflow automation startup gets US$60 million in funding

Yet another startup gets funding by addressing the fundamental tech problems
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Tray.io received $50 million at a valuation that is rumoured to be above US$600 million.
The company aims to make automation and optimization easier by offering the solution for automatically integrating APIs between multiple apps. This way the companies can skip the tedious and expensive process of building the tools separately or outsourcing the work. The product also offers features for error handling and, most importantly, automation options. 
Tray.io started out with mostly “email-centric” products, and is now offering its package for US$595 per month. There is also the platform’s white-label version, that third parties can acquire and offer to their clients integration in their own systems.
The company received a number of acquisition offers, including a few from “household names”. But they continue to operate independently, at least for now. The market for localized process automation is growing fast, and other startups are building similar solutions.