BonitaSoft, a provider of an open source business process management (BPM) solution, has raised a $13 million Series C round led by the FSN PME Fund, a French government initiative to invest in technology companies to help them scale globally. Also joining the round are previous investors Ventech, Auriga Partners, and Serena Capital. The new funding round brings the total raised by the company to just over $28 million since being founded in 2009, and follows an $11m Series B in late 2011.
BonitaSoft is headquartered in Grenoble, France — hence the French government’s backing — although it also has a U.S. office in San Francisco where I’m told CEO Miguel Valdes Faura spends half his time, as well an another office in Paris. It operates in the BPM space, competing with the likes of Pegasystems, Appian, LongJump, and a number of other open source players.
Companies use BPM software to automate their processes, particularly where these operate at the intersection of machines and people. For example, insurance companies might employ a BPM suite to design software to automate the claims process when a customer is involved in a car accident. Or to streamline and make accountable any business process where without systems in place things would otherwise fall through the cracks, especially at scale.