Scribe Raises $75 Million Series C, Valued at $1.3 Billion

Scribe has raised $75 million in a Series C funding round at a $1.3 billion valuation to expand its new product, Scribe Optimize, reports TechCrunch. The all-equity round was led by StepStone Group, with participation from Amplify Partners, Redpoint Ventures, Tiger Global, Morado Ventures, and New York Life Ventures.

Scribe Optimize analyzes enterprise workflows to identify where automation and AI will produce the strongest returns. The platform builds on the company’s existing tool, Scribe Capture, which automatically documents processes to generate step-by-step guides. Scribe said it has documented over 10 million workflows across 40,000 software applications.

The San Francisco-based startup reports having more than 5 million users and 78,000 paying organizations, including teams at New York Life, T-Mobile, LinkedIn, HubSpot, and Northern Trust. Scribe claims its customers save 35 to 42 hours per person per month and onboard new hires 40% faster using its tools.

Founded in 2019, Scribe plans to double its 120-person workforce within a year as it accelerates the rollout of Optimize and expands into markets including the U.K., Canada, Australia, and Europe.