Fisent Secures Funding for GenAI Process Automation Solution
Investment accelerates the availability of Fisent’s BizAI software, enabling clients to automate enterprise processes quickly and easily via GenAI
TORONTO (August 6, 2024) – Fisent Technologies, a pioneer in Applied GenAI Process Automation solutions, has secured funding from strategic investors including Pegasystems, Sand Dollar Capital, and prominent entrepreneurs, which will fuel the growth of its BizAI product as the market leader in Applied GenAI Process Automation.
Fisent’s BizAI solution enables end-to-end automation of repetitive business tasks through the application of foundational GenAI models, dramatically increasing back-office efficiencies by reducing the cumbersome manual workload that comes with human interpretation of different types of data and content. BizAI is already driving revenue growth and cost savings to companies that range from small banks to Fortune 500 corporations. For example, if customers submit reimbursement receipts to an airline after a canceled flight, BizAI can intelligently interpret those receipts, categorize expenses, and discern which expenses are associated with the canceled flight, saving valuable hours of employees’ time and expediting resolution processes.
“It is a tremendous endorsement to have partners like Pega support the rapid adoption of our BizAI solution,” said Adrian Murray, Founder and CEO of Fisent. “Their investment further supports our technology and provides us with the resources to meet the enthusiastic market demand we are already experiencing across multiple industries and use cases.”
“As a company deeply committed to innovation – particularly in the generative AI space – it was a natural fit for Pega to work with Fisent and support their intelligent solutions that increase back-office efficiencies and help organizations achieve business goals,” said Jason Masciarelli, VP, Launchpad GTM & Ventures, Pega. “We look forward to seeing how Fisent will continue to innovate and help clients on their digital transformation journeys.”
Fisent and Pega, a leader in enterprise AI decisioning and workflow automation, have worked together for nearly four years, leveraging both Pega InfinityTM and Pega Launchpad, Pega’s platform for SaaS development, hosting, and operations. Fisent’s BizAI solution provides additional value to Pega InfinityTM clients, as well as new clients looking to streamline back-office processes with generative AI.
Fisent’s BizAI solution is available today and is being deployed for many use cases, representative examples include Purchase Order (PO) processing for a Fortune 1000 company, Regulatory Testing for several Banks/FinTechs, Client Onboarding for multi-national Banks, Contract processing for multi-national Commercial Insurance organization. For more information, visit www.Fisent.com.
About Fisent
Fisent Technologies is revolutionizing how business is performed by enabling the utilization of GenAI models for the automation of common business processes. By creating a bridge between the enterprise application layer and the rapidly evolving ecosystem of Foundational GenAI models, Fisent’s Applied GenAI Process Automation solution, BizAI, enables process automation of time-consuming repetitive tasks such as contract reviews, new customer onboarding, and order processing. By combining the power of new technologies and its industry expertise, Fisent creates solutions that are fast, efficient, and cost-effective for clients of all sizes, enabling them to achieve their desired business outcomes.
Media Contact
Mark Tordik
PR for Fisent
215-644-6502
[email protected]
Release distributed via GlobeNewswire
