MOST Digital was founded in the spring of 2016 to change the market for utilizing Robotic Process Automation (RPA) with a strong and cost-effective approach, based on platform thinking. Robotic Process Automation is a technology that automates routine processes in knowledge work. A software robot uses various information systems just as a human would and does not require separate programming interfaces.
From the outset, MOST’s vision was to create a platform solution independent of robot and artificial intelligence technology, enabling the use of various robot products and AI solutions on it, regardless of the product and service provider. Realizing this vision required working capital, and for the initial seed funding, MOST started a collaboration with Accelerando. This partnership proved to be a long and joint journey.
Accelerando was involved in designing the first significant product development leap. Business Finland was approached for a product development loan, which enabled the development of the first scalable platform solution and the acceleration of commercialization. Alongside this development, a venture capital round was facilitated with the assistance of Accelerando.
After the completion of the product development project and as commercial activities gained momentum, initial steps were taken to expand the business outside Finland. Accelerando played a role in the planning and research for internationalization and helped in obtaining Tempo funding from Business Finland.
In Finland, commercialization continued to grow, with a significant number of customers accumulating and monthly billing increasing. There was also an emerging foreign trade. The growth pace was strong enough for MOST to join Business Finland’s Young Innovative Companies (NIY) program.
Along the way, there was also a need to clarify the product and sales strategy, and Accelerando helped in refining these as well as opening up international markets, including acquiring distribution and implementation partners.
The journey culminated in an intermediate stage where, in early 2022, Digia decided to acquire the entire share capital of the company. The growth journey of the company continues at an accelerated pace under the Digia Group.
“Entrepreneurs are always alone and facing the new in the phases of business transformation. Often, blindness to one’s own actions can cause knots, the attempts to untie which can create even tighter impasses. It’s not advisable to repeat the mistakes made by others; it’s better to learn from them. That’s why it’s important to partner with more experienced ones from the beginning. Accelerando was our partner from the start, bringing experience and insight and arranging financing for the various growth stages of our company. Capitalization, support funding, and especially NIY funding supported our company’s growth until the successful exit.” – Olli Ainasvuori, CEO of MOST Digital and one of the founders.