WorkFusion Raises $50 Million Series E

WorkFusion, a robotic process automation (RPA) software company, has raised $50M in Series E funding in a round led by Hawk Equity and Declaration Partners, bringing the company’s total investment to $118 million. Previous investors Georgian Partners, iNovia Capital and NGP Capital also participated. The capital will be used to expand WorkFusion’s global operations and further its vision of helping businesses rapidly respond to change with the power of RPA bots that learn through AI.

“Demand for our products grew 850% in 2017, reaffirming the power of AI to automate common business processes such as customer onboarding in banking, claims processing in insurance, or accounts payable in shared services. We were first to launch AI-powered RPA, first to launch free RPA with RPA Express and first to launch free education with Automation Academy. We will continue to deliver firsts to the market, and will continue to help our customers future-proof their businesses by making jobs work” – CEO Alex Lyashok.

WorkFusion’s AI-powered RPA software allows insurers to automate the claims process – mine knowledge bases, auto-validate policies, match key facts from the claim to the policy and make automated decisions using machine learning models, and can automatically transmit data into the system of record for downstream payment.