US-based automation technology developer WorkFusion received $50m in series E capital yesterday from investors including NGP Capital, the venture firm backed by telecoms firm Nokia and formerly known as Nokia Growth Partners.
Hawk Equity and Declaration Partners co-led the round, while iNovia Capital and Georgian Partners also participated.
WorkFusion enables enterprises to digitise their business processes using automation technology that handles back-office tasks and exploits artificial intelligence to operate customer support chatbots.
The series E round will allow WorkFusion to further expand internationally. The company has also appointed its former president Alex Lyashok as chief executive and board member, replacing Max Yankelevich, who will retain his board seat and serve as chief strategy officer.
WorkFusion has raised $118m to date, including $35m in a series D round backed by NGP in January 2017. The series D round was led by Georgian Partners, with participation from Mohr Davidow Ventures, iNovia Capital, Greycroft and RTP Ventures.
NGP had already contributed to a $14m series C round alongside Mohr Davidow Ventures, Greycroft, iNovia and RTP Ventures in 2015.