Vendor Analysis
published on Mar 19, 2018
Report Overview:
This NelsonHall assessment analyzes WorkFusion's offerings and capabilities in RPA & AI Technology Evaluation.
Who is this Report for:
NelsonHall’s RPA and AI vendor assessment for WorkFusion is a comprehensive assessment of WorkFusion’s RPA offering and capabilities, designed for:
- Sourcing managers investigating sourcing developments within RPA
- Automation decision makers exploring the benefits and inhibitors of RPA as evidenced from the clients and vendor capability
- Vendor marketing, sales and business managers developing strategies to identify developments and target opportunities within managed service programs
- Financial analysts and investors specializing in, or covering the RPA industry and suppliers.
Scope of this Report:
The report provides a comprehensive and objective analysis of WorkFusion’s offering, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments in both its service and technology
- Analysis of the company’s strengths, challenges, and outlook
- Revenue
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s key offerings (service model and service components)
- Analysis of the company’s delivery capability (including the location, size and scale of delivery operations; and delivery via technology).
Key Findings & Highlights:
WorkFusion was founded in 2011 by MIT researchers Max Yankelevich and Andrew Volkov. The company launched its first platform for microtasking in 2012, and added cognitive automation capabilities in 2014. WorkFusion's current flagship product, Smart Process Automation (SPA), was rolled out in 2015, with chatbot capabilities added in 2016.
WorkFusion has secured $70m of VC funding since its inception, half of which was secured in January 2017, when it closed a $35m Series D financing round led by Georgian Partners. This included participation from existing investors Mohr Davidow Ventures, iNovia, Nokia Growth Partners (NGP), Greycroft, and RTP Ventures. Prior to the Series D funding, WorkFusion closed Series C financing of $14m in December 2015, and $15m in Series B financing in April 2014.
WorkFusion has 200 employees, split among the U.S., Europe, and India.
WorkFusion does not comment publicly on its current revenues, but NelsonHall estimates its calendar year 2017 revenues at $10m.