Wiggersventurebeat, a finance automation company, has raised $220 million in a series F round of funding. This funding round is a major milestone for the company, which closed a $50 million series E round in April. The company’s technology automates various finance functions for businesses.
WorkFusion raises $220 million in Series F funding round
WorkFusion, an intelligent automation software company, recently raised $220 million in a new funding round. The latest round was led by Georgian, a fintech firm that invests in high-growth startups. The new funding will help WorkFusion expand its research and development efforts in no-code solutions and cloud-based automation. Since launching in 2010, WorkFusion has raised $121.3 million in six funding rounds and has more than 100 employees. Its recent executive hires suggest that the startup may be gearing up for an IPO or strategic asset sale.
WorkFusion provides software-as-a-service automation products to companies. Its Automation Cloud platform allows customers to access these capabilities on demand. Its automation software helps organizations automate manual processes and solve business challenges. For example, WorkFusion’s RPA software helps insurers automate claims processes. This software also helps them transmit data into their system of record.
WorkFusion is one of the latest companies to raise a Series F round of venture funding. The company focuses on automating repetitive enterprise backend processes. WorkFusion’s founder, Alex Dawson, earned a Master’s degree in Applied Math and Physics from the Moscow Institute of Technology and an MBA from NYU’s Stern School of Business in 2010. He started his career as a consultant and later founded a startup, Rodmon Systems. He served as its president for a year and joined the WorkFusion team in 2015.
WorkFusion is an AI-powered platform for enterprise automation. It automates manual business processes for organizations in highly regulated industries. Its platform uses artificial intelligence (AI) to learn how things are done and develops itself over time. Using WorkFusion’s AI, companies can eliminate manual steps and save time.
WorkFusion aims to accelerate the transition from manual, paper-based processes to meaningful work with its Intelligent Automation solutions. With its platform, organizations can automate different aspects of their operations, from accounting to healthcare to insurance. With the help of advanced AI algorithms, WorkFusion aims to become a leading provider of automation solutions.
The company generates most of its revenue from annual subscriptions and some professional services. The company plans to transition to a remote-first operating model in March 2020 and has shifted all of its marketing and sales efforts to digital channels. It also plans to focus on moving its own premise solution to the cloud and offering managed services for banks and other organizations.
WorkFusion aims to help global businesses automate complex processes. The platform combines machine learning, robotic automation, and process orchestration. Its technology works by watching human workers and dividing processes into microtasks. It provides a library of pre-built robotic and human process templates.