Seven-figure financing for Process Mining platform Lana Labs
Berlin, 30 January 2018 — Having secured a seven-figure investment, the Berlin-based software company Lana Labs aims to accelerate the development of a cross-platform Process Mining solution.
Process Mining involves visualizing and analyzing the digital traces left behind by processes in IT systems. Every time an action is completed, for instance in a digitalized production process, a data point is created. Only in recent years, through the development of new data mining algorithms, has it become possible to analyze this data. The first area to make broad use of the technology was ERP solutions (enterprise resource planning) such as SAP and Oracle.
However, Industry 4.0 and digitalization pose new challenges to companies looking to optimize their business processes. The next step for this technology must now be to process data from special systems such as MES (machine execution systems) and banking software from the production and finance sector. This is where the focus of the LANA Process Mining software lies.
This trend has also been recognized by the tech investors Capnamic Ventures, WestTech Ventures and main incubator. Process Mining is set to become the pivotal point for all corporate business analyses. Not only does it pool data from all relevant systems, it also prepares it for onward use by other tools such as dashboards.
Lana Labs CEO and Co-Founder Dr. Thomas Baier explains: “Existing solutions are a long way off meeting the full scope of customer demand. Process Mining outside the field of ERP often requires considerable extra manual input. This flies in the face of the original goal — to identify potential improvements with the utmost efficiency. This is what we are going to change. We will use the investment to accelerate our progress in automation and data binding for a cross-platform process analysis solution.”
Lana Labs has already won over some high-profile customers. Jörg Hessenmüller, Head of Group Development & Strategy at Commerzbank: “Lana Labs software supports us in our transformation into a digital technology company by enabling us to carry out transparent process analysis in a highly diverse systems environment.”
About Lana Labs
As a spin-off of the Hasso-Plattner-Institute in Potsdam, since 2016 Lana Labs GmbH has been building on the latest findings from Process Mining research, with a focus on innovations for the automated analysis of business and production processes. With its LANA Process Mining software, the young company enables its established customers to sustainably further their digital business development. For every software license sold, Lana Labs adopts an endangered Magellanic penguin in southern Chile. So aside from enhancing processes, LANA is making its own little contribution to making the world a better place.