FortressIQ, a San Francisco, CA-based creator of a cognitive automation platform that accelerates digital transformation through imitation learning, raised $12m in Series A financing.
Lightspeed Venture Partners made the investment which added to a $4m seed funding round from Boldstart Ventures, Comcast Ventures and Eniac Ventures, bringing the total funds raised to date to $16m.
Founded in 2017 by Pankaj Chowdhry, CEO, FortressIQ is the creator of a cognitive automation platform that powers and accelerates digital transformation through imitation learning. Using an innovative type of AI that combines computer vision, natural language and sequence modeling, the solution learns how a business functions through live activity analysis. At the core of the platform there is the FortressIQ Virtual Process Analyst, which learns a business process and all its permutations as they occur in real-time, then assesses, analyzes and provides customers with insights to guide operational change in days to improve operations.
The solution requires no integration or API access, works with all applications whether proprietary or commercial, and delivers a time to value in weeks.