FinovateFall 2014 / WorkFusion
Presenter Profile:
How they describe themselves: WorkFusion pairs machine learning with crowdsourcing to automate data work. Our platform captures a business process, sources online workers to perform tasks, and uses worker output to train active learning automation. WorkFusion is used by leading financial data vendors and financial services firms for a wide range of applications, including compliance, corporate actions, customer onboarding, deals, entities, equities, funds, fundamentals, indices, loans, and private equity.
How they describe their product/innovation: Finding opportunities to automate is hard, building algorithms is harder, and maintaining effective automation is hardest. WorkFusion solves these problems by actively tracking human work for patterns and training algorithms to follow them. When data sources or formats change, the platform reengages human workers to retrain algorithms, delivering adaptable, unbreakable automation.
Product distribution strategy: Direct to Business (B2B)
Contacts:
Bus. Dev. & Press: Adam Devine, VP Product Marketing, adam@workfusion.com
Sales: Andy Bethurum, VP Bus. Dev., andy@workfusion.com
Website: workfusion.com
Blog: crowdcomputingblog.com
Twitter: @crowdcomputing1
HQ: New York, NY
Founded: June 2010
Product Demoed: WorkFusion’s Active-Learning Automation
Product Launch: September 2014
Metrics: Seven of the top 10 financial data providers use WorkFusion to build and refresh data products, leading FIs use WorkFusion for high-volume data work, $23M raised in total (Mohr Davidow: $15M series B in February 2014, iNovia: $5M series A, Greycroft and RTP Ventures: $2.3M seed), 68 employees, NYC HQ, GigaOm’s #1 rated crowd management platform, on American Banker’s Top 10 FinTech Companies to Watch, SIIA CODiE nominee in 2 categories
Presenters: Max Yankelevich (CEO),
Adam Devine (VP Product Marketing)
- Key Executives
Max Yankelevich (CEO), Andrew Volkov (CTO), Andy Bethurum (VP Bus. Dev.), Adam Devine (VP Product Marketing), Joh Suh (VP Engineering)
Key Stats
- Key Board Members
Katherine Barr (Partner, Mohr Davidow), Shawn Abbott (Partner, iNovia), Kirill Sheynkman (Partner, RTP Ventures)
- Key Advisory Board Members
Tom Glocer (Former CEO, Thomson Reuters), Chester Murray (Former SVP, Moody’s)
- Key Investors
Katherine Barr (Partner, Mohr Davidow), Shawn Abbott (Partner, iNovia), Kirill Sheynkman (Partner, RTP Ventures), Alan Patricof (Greycroft Ventures), Tom Glocer (Former CEO, Thomson Reuters)
- Key Partnerships
Amazon Mechanical Turk, Elance, oDesk, Twillio, uSamp
- Key Customers
Seven of the top 10 financial data providers