Parabola, a startup that focuses on back-office processes, raised a $24M Series B led by OpenView.

 

Parabola, a startup that focuses on back-office processes, raised a $24M Series B led by OpenView.  The company uses AI to automate and categorize logs and documents. "Our core differentiator is our ability to be owned directly by an operations team to build solutions to their own problems without getting bottlenecked on data and IT," said Alex Yaseen, the startup's CEO and founder. The company plans to use the funds for hiring and product R&D. Other participants in the round include Matrix, Thrive, Abstract Ventures, and Flexport. A McKinsey survey revealed that 66% of organizations used process automation in one or more business functions.