Roots Automation Secures $3.2M Seed Funding Round

NEW YORK, Nov. 11, 2020 /PRNewswire/ -- Roots Automation, the NYC-based Digital Coworkers as a Service company, has raised a $3.2M seed round led by Vestigo Ventures. Launched by Chaz Perera and John Cottongim, Roots Automation aims to empower companies to free their 'roots' – their people – to focus on meaningful and impactful work.

"Vestigo Ventures has been incredible throughout our seed funding journey and we're extremely thankful for their support," said Co-Founder and CEO, Chaz Perera. "The partnership between Vestigo Ventures and Roots Automation is the ideal combination of enterprise technology and startup expertise – together, we'll continue to fuel growth opportunities instead of mundane tasks for our customers."

Vestigo Ventures is an early-stage startup venture capital fund specifically for insurance and financial technology companies. Leading the investment were Ian Sheridan and Mike Nugent, both MDs at Vestigo, who have a proven track record as operators, entrepreneurs and investors.

"We are excited to be part of the Roots Automation journey with Chaz and John, two experienced leaders with the vision and technology for our time," said Ian Sheridan, Co-Founder and Managing Director of Vestigo Ventures. "The pandemic has disrupted multiple industries and we see a new sense of urgency to modernize, design & delight, and improve the outcome for businesses while making operations safer - the Roots Automation platform is materializing at the ideal time!"

With the capital infused into Roots Automation, the company can accelerate the development of its proven cognitive process automation technology called Digital Coworkers. A great deal of the investment will also lend itself to rapid customer acquisition across financial services, insurance and healthcare verticals.

To learn more about services offered by Roots Automation, please visit www.rootsautomation.com.

About Vestigo

Vestigo Ventures is an early-stage venture capital firm headquartered in Cambridge, Massachusetts that invests in financial technology (fintech) companies. The Firm was founded by David Blundin, founder and chairman of Cogo Labs, Mark Casady, former CEO and chairman of LPL Financial, and Managing Directors Ian Sheridan and Mike Nugent. Vestigo has identified four areas of concentration: market structure, operations solutions, worksite management and personal wealth. Learn more at www.vestigoventures.com.

About Roots Automation

Roots Automation, founded in 2018, provides Digital Coworkers as a Service for companies of all sizes to support daily operations, reduce time spent on low-value tasks, and free up employee time to focus on customers and growth opportunities. The company's mission is to empower companies to free their 'roots' - their people - to focus on meaningful, impactful work. Roots Automation's platform uses Robotic Process Automation (RPA) technology to handle manual, monotonous tasks that are crucial for business operations but provide little ROI. Roots Automation is based in New York City and provides services to companies across the United States, the UK and Canada.

SOURCE Roots Automation