KnowledgeLake Growth in 2020 Driven by Increasing Demand for Cloud-based Intelligent Capture and Document Processing Automation
ST. LOUIS, Mo., — February 2, 2021 — KnowledgeLake today announced growth figures for 2020 that highlight the rapid adoption of its cloud-native platform for intelligent document processing that gives organizations control of the entire document lifecycle and the ability to capture, process, and manage almost any document.
Revenue generated from the KnowledgeLake cloud-native platform increased by nearly 90 percent in 2020, driven in part by strong demand from companies looking to migrate their existing legacy enterprise content management (ECM) solutions to the cloud. In 2020, KnowledgeLake also transitioned to an entirely channel-driven sales strategy, establishing a robust network of channel partners with expertise in implementation and professional services for customers in financial services, manufacturing, government, education, and other key segments.
“Our success in 2020 illustrates that an increasing number of companies are looking to quickly set up and scale automated document processing in the cloud,” said Ron Cameron, CEO of KnowledgeLake. “The strong growth KnowledgeLake experienced during challenging economic conditions demonstrates our continued ability to deliver the most effective platform available for empowering information workers to focus on higher-value tasks and decision-making, instead of pushing paper.”
KnowledgeLake recorded numerous company and product milestones during 2020, including announcing the release of the KnowledgeLake Huron Update, the implementation of customer-centric offerings such as unlimited users and consumption-based pricing, and the launch of Azure limitless repositories. The company received several awards and accolades in 2020 including being named the winner of the 2020 KMWorld Readers’ Choice Award in the “Document Management” Category, as well as recognition as one of the “Top Workplaces 2020” by The St. Louis Post-Dispatch. KnowledgeLake also was honored as a Finalist for Microsoft’s 2020 Government Partner of the Year Award.
"We anticipate another strong year of growth in 2021 as more organizations turn to KnowledgeLake to humanize document processing. We are continuing to make innovations to our Cloud platform with an intuitive user experience that leverages AI and machine learning to automate high-volume processing of incoming documents from any source,” added Cameron.
KnowledgeLake is a leader in intelligent document processing. KnowledgeLake is the only end-to-end, fully cloud-native solution for document processing, enabling organizations to capture, process and manage their content through a single platform. Two million users worldwide rely on KnowledgeLake to work faster and more efficiently by automating repetitive tasks and mastering workflow. For more information, visit http://www.knowledgelake.com.