Fresh capital and newly appointed CEO to accelerate expansion of AI-powered document processing and workflow automation platform

ST. LOUIS & NASHVILLE, Tenn.–(BUSINESS WIRE)–KnowledgeLake, an AI‑powered enterprise workflow automation platform, and growth equity firm Edison Partners announced a majority growth investment of $65 million. KnowledgeLake management and existing shareholders also participated. Kevin Herr, long‑time COO and CFO, has been named CEO, succeeding Ron Cameron, who will remain in an advisory role. Under Herr’s leadership, the new capital will be invested in customer success, partnership expansion, go‑to‑market strategies, and market-leading AI capabilities.

“We’re thrilled to work with Edison’s investors and operators to bring KnowledgeLake to enterprises striving to manage costs while investing in digital transformation,” said Kevin Herr, CEO, KnowledgeLake.Share

The market for automation tools is rapidly evolving and consolidating. Organizations are moving away from stitching together multiple, disconnected systems, looking instead for unified platforms that bring together document processing, workflow automation, and AI-driven insights. This shift plays directly to KnowledgeLake’s strengths, which delivers these capabilities in one easy-to-deploy, scalable platform. The investment reflects KnowledgeLake’s capital-efficient growth, high customer satisfaction, and expanding position in the $70 billion+ document processing and workflow automation market, especially among underserved, mid-sized government agencies and enterprises.

“We are incredibly excited to partner with such an established and visionary team,” said Ben Laufer principal at Edison Partners. “KnowledgeLake stands out for its remarkable, capital-efficient, customer-funded growth. Customers consistently praise their AI-enabled, low-code/no-code platform and support. Their fast time to value, high return on investment, multi-year contracts, and outstanding retention metrics are compelling.”

With more than 220 customers across government, education, healthcare, manufacturing, and financial services, KnowledgeLake customers achieve 70% faster processing, 98% data accuracy, and millions in annual savings. In turn, the company is generating SaaS revenue growth of more than 50% year-over-year, 95% gross dollar retention and 130% net revenue retention. Customers include: the State of Tennessee, the State of Kentucky, US Imaging, Washington University and New Belgium Brewing.

“Our technology provides document-centric organizations an unparalleled, easily integrated infrastructure to modernize operations,” said Kevin Herr, CEO, KnowledgeLake. “We’re thrilled to work with Edison’s investors and operators to bring KnowledgeLake to enterprises striving to manage costs while investing in digital transformation.”

KnowledgeLake joins other recent Edison investments focused on digitizing analog enterprises. Other portfolio companies include next-generation 911 technology company Rapid Deploy (recently acquired by Motorola Solutions), Recycle Track Systems (RTS), helping businesses manage waste more responsibly, Seismos, using AI and sound to improve well and pipeline safety and efficiency, and 120Water, which is modernizing water utilities’ ability to test and manage clean water supplies. Since its inception in 1986, Edison has invested in more than 260 companies.

About KnowledgeLake

KnowledgeLake is the leading AI-powered enterprise automation platform, unifying Intelligent Document Processing (IDP), Workflow Automation, Robotic Process Automation (RPA), and Content Management into a single, scalable solution. Trusted by over two million users and recognized with multiple Microsoft Partner of the Year awards, KnowledgeLake helps organizations streamline workflows, reduce costs, and transform the future of work. Learn more at knowledgelake.com.

About Edison Partners

Edison Partners is a leading growth equity firm providing the financial and intellectual capital that CEOs and their executive teams need to grow and scale their companies. The firm’s team brings more than 275 years of combined investing, operating and sector experience to each investment, accessible via the Edison Edge value creation platform, which is tailored to each business’ strategy, stage and operating needs. Edison targets high-growth vertical SaaS, financial technology, healthcare IT and marketplace companies located outside Silicon Valley with $15 million to $50 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Named as a Top Growth Investment Firm by GrowthCap for multiple years running, Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners manages $2.2 billion in assets. For more information on Edison Partners, please visit edisonpartners.com and follow on LinkedIn.

Contacts

Media Contact:
Jeanne Yurman
Archie Group for Edison Partners
jeanne.yurman@archiegroup.com

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