"Joining UiPath is a moment of validation for the years our team has poured into creating something bold, different, and deeply needed in financial crime compliance, AI agents that automate work and mitigate risk. Now, UiPath gives us the scale to grow faster than we ever could alone, without losing the heart of who we are, our people, our products, and our mission. Together, we're creating something bigger than any one company: we are modernizing financial crime compliance."
"Founded by Andrew Volkov, Max Yankelevich, and Mikhail Abramchyk in 2009, WorkFusion had raised a total of $386.5M in equity funding and is backed by Greycroft, Inovia Capital, Mohr Davidow Ventures, RTP Global, NGP Capital, Georgian, SVB Capital, PNC Bank, Declaration Partners, Alpha Intelligence Capital, Serengeti Asset Management, Peak Opportunity Partners, Chubb, New York Presbyterian Ventures, Teralys Capital, Hawk Equity, George John, Guardian, Konrad Investments, and Adam Famularo."
UiPath acquired WorkFusion, a pioneer in AI agents for financial crime compliance, with terms not disclosed. WorkFusion developed a pre-built library of AI agents that automates labor-intensive AML and KYC operations and serves customers including BMO, Deutsche Bank, and Raymond James. WorkFusion raised $386.5M in equity funding and secured backing from numerous investors. The acquisition combines WorkFusion's compliance automation capabilities with UiPath's scale. The transaction intends to preserve WorkFusion's people, products, and mission while accelerating growth and modernizing financial crime compliance through agentic automation.
Read at Alleywatch
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