WorkFusion adds $50 million from strategic investors as it bulks up for acquisitions

WorkFusion, a business process automation software developer, has raised $50 million in a new, strategic round of funding as it prepares to start adding new verticals to its product suite. The company's new cash came from the large insurance company, Guardian; health care services provider New York-Presbyterian, and the commercial bank, PNC Bank. Venture investor Alpha Intelligence Capital, which specializes in backing artificial intelligence-enabled companies also participated in the new financing. Certainly WorkFusion seems to have come a long way since its days hiring crowdsourced workers to train algorithms how to automate the workflows that used to be done manually. The company has raised a lot of money -- roughly $121 million, according to Crunchbase -- which is some kind of validation, and in its core markets of financial services and insurance it's attracted some real fans.