SAN FRANCISCO, Nov. 11, 2020 (GLOBE NEWSWIRE) -- FortressIQ, the process intelligence platform for the modern enterprise, is reporting a year of tremendous growth as it continues to support customers’ business transformation goals. More than 60 percent of the company’s customers have an annual revenue of over $10 billion dollars, many of which are F10 companies. Leading companies in finance and accounting, HR, manufacturing, retail, financial services, insurance, and more, rely on FortressIQ’s process intelligence platform to obtain the data and insights needed to answer the most pressing questions facing their teams.
“This has been a considerable year of growth for FortressIQ, and we’re working to constantly uncover new and innovative ways to support our customers throughout their business transformation journeys,” said Pankaj Chowdhry, CEO at FortressIQ. “The business landscape is undergoing great change, and it can be the natural tendency of some organizations to retreat toward familiar models and put innovation programs on hold. However, for companies who want to come out thriving on the other side of this, we believe there’s never been a more apt time to invest in digital transformation and streamlining business processes.”
FortressIQ uses AI and computer vision to create a detailed blueprint of every process across every application and department within an organization’s technology landscape. Its process intelligence platform empowers companies by giving them access to data and insights that will fuel their success and let them realize their business transformation goals. To see FortressIQ in action, request a demo or tune in for a live bi-weekly webinar and Q&A session.
“FortressIQ helps us accelerate process mining and process discovery, which greatly improves our ability to identify new opportunities for automation and process reengineering,” said Federico Alvarez Monge, global transformation senior manager for global services at Grupo Bimbo. “The platform’s time and motion analyses have led to improved SOPs, and training within our organization.”
"In our recent analysis of process intelligence products, FortressIQ emerged as one of the most innovative startups in this market,” said Reetika Fleming, research VP at HFS Research. “Its approach to discovering and documenting task activities is forward-thinking and invaluable for clients that want to better understand the intricacies of their business processes. FortressIQ's partnership ecosystem is also very promising, and we expect great things from the Microsoft alliance on data visualization and automation.”
Notable highlights from the year thus far include:
Funding
In May, the company announced $30M in Series B funding. M12, Microsoft’s venture fund, and Tiger Global Management led the round, with help from previous investors Boldstart Ventures, Comcast Ventures, Eniac Ventures, and Lightspeed Venture Partners. The company has raised a total of nearly $65M to date.
Technology partnerships
FortressIQ has partnered with leading companies including Blue Prism, Signavio, and Microsoft to offer customers unique and comprehensive solutions for solving their most complex business and operational challenges at scale.
Executive hires
The company welcomed executive hires Ryan Stroub as chief financial officer, Christelle Flahaux as vice president of marketing, Steve Tsuchiyama as vice president of worldwide sales and customer success, and Jay Sivachelvan as vice president of business development, to support its rapidly expanding client base and drive go-to-market strategy.
Pinnacle Partner Program
FortressIQ’s Pinnacle Partner Program, which includes leading firms in management consulting, system integration (SI), and business process outsourcing (BPO), was expanded with best-in-industry benefits to provide consulting partners and their clients with an unparalleled competitive edge. Consulting partners include Avanade, Accenture, PwC, Reveal Group, Stellium Inc., BPM-D, and Cognizant.
Privacy Enhanced Gateway (PEG) + security investments
FortressIQ announced Privacy Enhanced Gateway (PEG), the world’s first adaptive and learning computer vision-based firewall. PEG allows enterprises to confidently execute on their strategic business initiatives by filtering their sensitive data in a secure and scalable manner. As part of its ongoing commitment to providing best-in-class security for customers, the company additionally completed its SOC 2 type 2, ISO 27001, and HIPAA certifications.
About FortressIQ
FortressIQ enables enterprises to decode work, transform experiences, and enhance workflows with the industry’s most advanced process intelligence platform. Using innovative computer vision and artificial intelligence, FortressIQ delivers unprecedented process insights, extremely fast, and with detail and accuracy unattainable with traditional methods. The platform autonomously acquires process data at scale even as processes extend across systems, empowering enterprises to understand, monitor, and improve operations, employee and customer experiences, and every business process. FortressIQ was founded in 2017, and is backed by Lightspeed Venture Partners, Boldstart Ventures, Comcast Ventures, Eniac Ventures, M12 and Tiger Global. To learn more, please visit fortressiq.com.
Media Contact
Reagan McAfee
Offleash for FortressIQ
fortressiq@offleashpr.com