WorkFusion Raises $220 Million, led by Georgian, to Scale Its Growth in Intelligent Automation
Funding boosts technology and go-to-market investments to meet rising demand for WorkFusion’s industry-specialized Intelligent Automation software
NEW YORK, March 9, 2021 — WorkFusion, a top provider of industry-specialized Intelligent Automation software, today announced it raised $220 million in Series F funding. The round was led by Georgian, a leading fintech company investing in high-growth technology companies. The new investment further validates the company’s vision and success, and accelerates its leadership trajectory in the world’s fastest-growing software segment.
WorkFusion’s Intelligent Automation software is designed to automate industry-specific manual operations and used to solve critical business problems, especially in banking and financial services, along with other highly-regulated industries. By enabling rapid and reliable automation of document-heavy work at scale, customers are able to automate initiatives such as anti–money laundering (AML), Know Your Customer (KYC), lending, capital markets, Treasury services, and more.
At the heart of WorkFusion® software is its proprietary cloud-federated learning technology: AI bots learn in real time from data and end users with “no-code” simplicity, then further aggregate and share those learnings across the bot ecosystem. This creates a “greater good” intelligence network effect from which all customers benefit.
Georgian’s investment reflects the shared vision of two companies targeting sustained growth and value creation with forward-thinking technology. This vision, which revolves around customer success in key operating areas, harnesses the latest in AI, intelligent document processing, trust and analytics to bring meaningful change to current and future customers.
WorkFusion CEO Alex Lyashok says, “It takes a high-performance team, driven by a shared purpose and looking in the same direction, to build long-term value. Our unique approach of automating industry-specific, document-heavy operations with advanced AI is yielding remarkable success for our banking customers; now we can take that success to a wider audience at greater speed and unlimited scale. We have a winning playbook, and the market is vast. We are excited to move forward.”
Beyond business results, WorkFusion and Georgian also share the belief that people are capable of more—and that automation can free people from the mundane to perform more meaningful work. This investment will accelerate the realization of this intention for millions of people.
“WorkFusion has reached an inflection point of success in terms of product and market readiness,” says Emily Walsh, Lead Investor at Georgian. “The opportunity to transform enterprise operations through Intelligent Automation is massive, and WorkFusion is in the leading position to do so. We are thrilled to continue to work with WorkFusion as they scale and impact traditional industries with their market-leading process automation platform.”
WorkFusion is accelerating the world’s transition to more meaningful work. Our Intelligent Automation solutions are powered by learning bots, proprietary artificial intelligence technology and advanced analytics, working together to automate a wide range of business operations, and specializing in the needs of banking, insurance and healthcare companies. Leading organizations worldwide use WorkFusion to automate their operations with remarkable outcomes, helping them up-skill employees, reduce costs and unlock growth like never before. WorkFusion is headquartered in New York City with operations across the globe. workfusion.com
At Georgian, we’re building a platform to provide a better experience of growth capital to software company CEOs and their teams. Georgian’s platform is designed to identify and accelerate the best growth-stage software companies, taking an intelligent, data-first approach to solving the key challenges CEOs face as they grow their businesses. We invest in high-growth companies across North America that harness the power of data in a trustworthy way. Based in Toronto, Georgian’s team brings together software entrepreneurs, machine learning experts, experienced operators and investment professionals. georgian.io