Minit

About Minit

Minit, a company focused on process mining, was established in 2014 by founder Rasto Hlavac. Hlavac, who holds Master's degrees in both Computer Software Engineering and Economic Informatics, previously founded and led Gradient ECM, a document capture and data extraction platform. This background in transforming document information into usable intelligence directly informed his creation of Minit, which was conceived to address the need for greater transparency in business operations.

The company developed a software platform designed to analyze, monitor, and optimize business processes for large enterprises. By extracting data from the event logs of its clients' existing IT systems, such as ERPs and CRMs, Minit's technology automatically creates a visual map of how complex processes actually function. This allows businesses to identify inefficiencies, bottlenecks, and areas for improvement without the need for extensive manual interviews and data gathering. The platform catered to a range of clients, including those in banking, insurance, and logistics, serving process owners, analysts, and consultants. Revenue was generated through the sale of its process mining software. The core product suite included Minit Analyst, for in-depth analysis, and Minit Dashboards, which provided interactive visualizations for various stakeholders. Key features included an AI-powered root cause analysis, process simulation for testing "what-if" scenarios, and a patent-pending hierarchical process mining capability.

The company's growth was supported by venture capital, securing a Series A funding round in 2019 from investors including Target Global and Salesforce Ventures, which was intended to fuel product development and US expansion. This followed an earlier seed round, bringing total funding to €10.3 million. Minit began its operations in Slovakia and later established its headquarters in Amsterdam, with offices in London and New York. In March 2022, Microsoft announced its acquisition of Minit for an undisclosed amount, integrating the technology into its Power Automate platform to enhance its process advisor capabilities. This strategic acquisition was aimed at empowering Microsoft customers to gain a complete picture of their business processes, thereby driving operational excellence and digital transformation.