WorkFusion expands $50M Series E round, adds Guardian, NewYork-Presbyterian, The PNC Financial Services Group and AI Capital as strategic investors
NEW YORK, May 31, 2018 /PRNewswire/ — WorkFusion, the leading robotic process automation (RPA) software company, announced the participation of strategic customers Guardian, NewYork-Presbyterian, and The PNC Financial Services Group in its Series E funding. The company also announced that Alpha Intelligence Capital (AIC), a fund dedicated exclusively to investing in companies with deep Artificial Intelligence technology at the core of their offerings and business model, has joined existing investors to drive WorkFusion’s vision of helping companies achieve operational excellence through software bots that learn through AI.
“AI has become a critical competitive advantage,” said CEO Alex Lyashok. “Many companies are already using machine learning (ML) to power their customer experience, and using ML to create intelligent software robots compliments those experiences with scalable, agile business operations. This is why we are working closely with Guardian, NewYork-Presbyterian, PNC and other data-first companies to enable data-driven business models with AI-driven RPA at the core.”
“Guardian uses data to better understand and serve customers, and WorkFusion will bring new data-driven intelligence capabilities into the company,” said Dean Del Vecchio, Executive Vice President, Chief Information Officer & Head of Enterprise Shared Services at Guardian. “We look to invest in and deploy RPA and AI technology that improves efficiency and can help us leap forward in operations and improve outcomes, and WorkFusion has that potential.”
“NewYork-Presbyterian is a leader in leveraging innovative technology in healthcare, and with WorkFusion we have deployed artificial intelligence and process automation to drive operational excellence, lower costs, and support exceptional patient care for the communities we serve,” said Dr. Peter Fleischut, Chief Transformation Officer at NewYork-Presbyterian. “Our investment in WorkFusion reflects our strategic commitment towards innovative technologies such as artificial intelligence in shaping the future of healthcare delivery,” said Dr. David Tsay MD PhD, Associate Chief Transformation Officer at NewYork-Presbyterian.
“PNC chose WorkFusion SPA because of its integrated platform approach and built-in AI capabilities,” said Dan Pavlick, Executive Vice President, Strategic Services and Enterprise Architecture, at The PNC Financial Services Group. “WorkFusion SPA is a strategic tool that supports our customer experience and efficiency initiatives by automating critical operational processes, and we’ve invested in the company to support what we see as a long-term partnership.”
“AIC researched every company in the RPA and intelligent automation industry, and we chose to invest in WorkFusion because of its AI-first model, which we believe will deliver greater value to both customers and investors,” said Antoine Blondeau, co-founder and Managing Partner at AIC. “WorkFusion is exceptionally well positioned with its foundational technology, products, customer base and team to retain and expand its leadership position in the RPA industry, and we’re excited to support the company’s growth.”
With over 30,000 users from 10,000 companies around the world, WorkFusion is the most widely adopted AI automation product on the market. Companies both large and small can start their automation journey with free-to-use RPA Express and grow their capabilities to solve even the most challenging work scalability problems with WorkFusion’s flagship product, Smart Process Automation.
WorkFusion’s AI-powered RPA software creates and manages software robots for knowledge work. Built for data-first companies, its products automate business processes by combining AI, RPA and people in one intuitive platform. Top enterprises within global banking, insurance, healthcare and other data-intensive industries choose WorkFusion to reduce their cost of doing business and to use AI to overcome the complexity of scaling operations. WorkFusion is headquartered in New York City with offices in eight countries throughout Europe and Asia. For more information visit www.workfusion.com.