# OpenSpan

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/openspan

- Industry: Software
- Headquarters: Alpharetta, US
- Website: www.openspan.com
- Total disclosed funding: $25M
- Latest round: Series C (Jul 7, 2008)
- Investors on record: 6

## About

OpenSpan specializes in delivering automation solutions that enhance operational efficiency and streamline business processes across multiple industries.OpenSpan focuses on automation technology, providing tools that enable organizations to optimize their operations. Founded by Stephen Beckett, the company is headquartered in Alpharetta, US. In April 2016, OpenSpan was acquired by Pegasystems for an undisclosed amount. The company has engaged in five investment deals, with its latest funding round being Series C, which raised USD 15.60 mn from investors including FTV Capital, Globespan Capital Partners, Imlay Investments, Matrix Partners, and Sigma Prime Ventures. OpenSpan currently holds a valuation of USD 52.52 mn.OpenSpan is known for its robust automation solutions that facilitate both attended and unattended robotic process automation (RPA). These solutions are designed to help organizations automate repetitive tasks, integrate workflows, and improve productivity. The company targets a range of applications, including enhancing customer service and optimizing legacy system processes. Its clients include major enterprises like Starbucks, which have realized significant operational improvements since implementing OpenSpan's offerings. OpenSpan primarily serves large enterprises in North America, Europe, and Asia-Pacific.OpenSpan generates revenue through software subscriptions, professional services, and support agreements. Clients typically engage with the company via direct sales channels, entering into multi-year subscription agreements for their RPA solutions. The pricing structure is tiered based on service levels and the number of bots deployed, catering to the specific requirements of clients in sectors like financial services, healthcare, and communications.OpenSpan is strategically focused on expanding its product offerings and geographic reach. The company plans to introduce new products designed to enhance automation capabilities further, although specific release dates are not disclosed. It aims to enter new markets in Asia-Pacific and Europe by 2025, leveraging insights from its recent funding round. The USD 15.60 mn raised in the Series C round will be directed towards supporting these initiatives, particularly in product development and market expansion efforts.

## Funding rounds

- Series C, Jul 7, 2008, $16M — Globespan Capital Partners, Matrix Partners, FTV Capital, Imlay Investments, Sigma Prime Ventures
- Series B, Nov 22, 2006, $8M — Matrix Partners, Atlanta Technology Angels, Imlay Investments, Sigma Prime Ventures
- Series A, Jun 17, 2005, $1M — Imlay Investments

## Investors

- Imlay Investments (https://capitalatlas.ai/funds/imlay-investments) — Series A, Series B, Series C
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series B, Series C
- Atlanta Technology Angels (https://capitalatlas.ai/funds/atlanta-technology-angels) — Series B
- Sigma Prime Ventures (https://capitalatlas.ai/funds/sigma-prime-ventures) — Series B, Series C
- Globespan Capital Partners (https://capitalatlas.ai/funds/globespan-capital-partners) — Series C
- FTV Capital (https://capitalatlas.ai/funds/ftv-capital) — Series C