WorkFusion latest automation firm to win serious backing
The automation revolution
With recent announcements such as M1 Finance’s Series D, money is flowing into automation companies. The automation market is worth an in 2021, spurred by the ongoing COVID-19 pandemic and its demand for digital transformation in response.
WorkFusion specialises in intelligent automation software, with industry-focused solutions in areas such as banking and financial services. The companies software is used to automate labour and data-intensive tasks such as preventing money laundering and “Know Your Customer” efforts.
WorkFusion CEO Alex Lyashok said: “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.”
The company said it would use the funds to meet increased demand for its offering stemming from the evolving marketplace.
“WorkFusion has reached an inflection point of success in terms of product and market readiness,” said 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.”
- Microsoft ups its investment in OpenAI’s supercomputer plans
- Microsoft makes plans for quantum supremacy in new age of AI
- ICYMI: AI nanostructures and human-AI hybrid fashion designs
- AI in everything, everywhere, all at once, say Davos experts
- Davos experts say ChatGPT will speak for all global business