Tessaract.io (Tessaract), a Singapore-based cloud-native, no-code workflow automation platform provider, has raised $3.3 million in a Pre-Series A funding round led by Wavemaker Partners.
The round also includes CMIA Capital Partners, M Venture Partners, as well as angel investors Anand Swaminathan and Doug Parker, the company said in a statement on Wednesday.
Tessaract is a B2B SaaS technology provider that focuses on no-code workflow automation solutions that help professional services firms accelerate their digital transformation journey to deliver greater productivity and resource efficiency.
Its product suite enables businesses in sectors such as law, accounting, finance, amongst others, to automate work processes and allow their teams and clients to work collaboratively in real-time.
“As digitalization and cloud integration become workplace norms, businesses need to streamline their workflows and optimize their resources to stay abreast of the changing landscape. The COVID-19 pandemic has accelerated this imperative even further,” said Tessaract Chief Executive Officer and Founder Cherilyn Tan.
The company’s flagship Tessaract.io platform allows for end-to-end management of various workflows, such as project tasks, schedules, sales leads, and customer relationships, as well as accounting and reporting processes. It includes ready built-in integrations for everyday business needs such as email, calendar management, and invoicing, and has tools that allow for hassle-free migration of existing data from other services.
Its TessaCloud document management system includes enterprise search functionality, with built-in Optical Character Recognition (OCR), and secure digital signing via SingPass. Users can perform enterprise searches, digital signing, document assembly, and audit log retrieval, all fully integrated with third-party cloud providers such as Amazon Web Services (AWS) or Azure.
This allows clients to deploy Tessaract solutions within their own cloud architecture, giving them greater control over their data, Tessaract said.
Since its launch, Tessaract has established partnerships with large IT managed service providers such as Stone Forest as well as Singaporean government agencies including the Inland Revenue Authority of Singapore (IRAS), Accounting and Corporate Regulatory Authority (ACRA), and Infocomm Media Development Authority (IMDA).
Tessaract plans to leverage its recent fundraise to expand into new markets, and further develop its suite of products to support a broader range of business types and sizes.
To spearhead this growth, the company has appointed Colin Lee as its new Chief Operating Officer. Lee brings 20 years of experience in the US tech industry to the now 35-strong team.
Founded in 2018 and headquartered in Singapore, Tessaract offers a cloud-native, no-code workflow automation platform (API)-friendly management system designed to provide a seamless, end-to-end work experience for professional services firms in sectors such as legal, accounting, consulting, finance, and insurance amongst others.
Featured image credits: Tessaract