Financial crime compliance technology company WorkFusion announced it had raised $45 million in funding led by Georgian, a growth-stage B2B investor. The company develops AI agents designed to automate compliance processes like AML, sanctions screening, Know Your Customer procedures and fraud detection.
WorkFusion restructured its business in 2022 to focus on AI agents for financial crime compliance operations after a decade of providing automation and document processing services.
“In 2022, we made a hard pivot to restructure the company around our AI agents for financial crime compliance. We were one of the first technology companies to focus on creating AI Agents that did a specific job role within a vertical industry,” Adam Famularo, CEO of WorkFusion, said in a news release. The funding round included participation from Serengeti Asset Management, Nokia Growth Partners III, Teralys Capital and other investors.
