HuLoop Automation Inc., a new technology company spun out of Folsom-based AgreeYa Solutions, will commercialize technology developed by AgreeYa that uses artificial intelligence to help clients enable business-process automation, robotic-process automation and software-test automation.
The new company will commercialize AgreeYa's BeatBlip automation platform that allows for no-code and low-code implementation for customers.
“The goal is to turbocharge the company’s growth,” HuLoop CEO Todd Michaud told the Business Journal.
AgreeYa, a software consulting firm and technology worker placement company, is funding the seed capital to start HuLoop as a separate company. HuLoop will also seek external investment, Michaud said.
HuLoop will target industries that are ready for automation, with an initial emphasis on retail, consumer packaged goods, wholesalers and public agencies.
The platform can connect to documents, spreadsheets, data sets and application programming interfaces, or APIs, that can include payments and other transfers.
“It can connect to anything. That is its superpower,” Michaud said. “It can run on any major cloud platform.”
BeatBlip works within existing security frameworks, and it inherits permissions and sign-ons to be able to communicate between disparate systems, but it doesn’t itself get access to private information, he said.
Business-process automation allows the platform to deploy digital assistants to automate repetitive tasks; business-process automation allows the platform to work across different systems and data sources; and test automation makes sure the platform is working correctly.
Michaud didn't disclose the amount of seed funding AgreeYa is providing, but he said it's enough to give the startup a strong runway “to reach its full potential.”
HuLoop will work out of offices in Auburn and a separate office in AgreeYa’s Folsom headquarters. The company is starting with about 20 employees, some of whom are AgreeYa employees.
The idea is to grow HuLoop into a stand-alone company, Michaud said.
Founded in Sacramento in 1999, AgreeYa moved to Folsom in 2002. It has more than 2,000 employees worldwide.
Michaud has previously been CEO of Revionics when it was based in Roseville, Retalix USA and Transformational Retail Technologies Inc., a retail industry consulting firm in Auburn.
“The BeatBlip platform has been helping customers around the globe successfully adopt and scale automation with ease for years,” said Ajay Kaul, managing partner at AgreeYa Solutions, in a news release. Kaul is HuLoop’s chairman.
“Existing customers won’t experience any disruption, and in fact, they benefit from expanded capabilities, focus and resources,” Kaul said.
