KKR backs IT business arago

The fresh capital will be used for the global rollout of arago's technology.

The investment marks KKR's second foray into the digital space this year, having acquired a 49% stake in Ringier Digital subsidiaries Scout24 Schweiz and Omnimedia in July. That transaction was reportedly valued at $175m and saw KKR invest from its third European fund.

Company
Founded in 1995 and headquartered in Frankfurt am Main, arago automates IT operations using modern technologies, aiming to release IT workers from these tasks to do more creative jobs.

Its main product is AutoPilot, a knowledge-based automation platform developed over the last eight years. arago claims the product enables companies to automate up to 90% of their IT processes, including individual applications, by implementing knowledge modules that remember processes.

People
Chris Boos and Bernhard Walther are co-founders of arago. Philipp Freise is head of the European Media and Digital Investment team at KKR, while Lucian Schönefelder is a director in the team.

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