Company:AntWorks

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AntWorks Pte. Ltd.
TypePrivate company
IndustryArtificial Intelligence and Intelligent Automation
Founded2015
FounderAsheesh Mehra (Co-founder), Govind Sandhu (Co-founder)
HeadquartersSingapore,
Singapore, SG
Number of locations
6
Area served
Worldwide
Key people
Mike Hobday (Interim CEO and CRO)
Products
  • CMR Plus
  • ANTstein Square
  • Process Discovery
  • Image Enhancer
  • Auto Indexer
  • QueenBot
  • Email Agent
  • Accounts Payable as a Service
  • Optimiser
Number of employees
200+
SubsidiariesAntWorks Pte Ltd, Singapore

AntWorks Solutions India Pvt. Ltd, India
AntWorks Solutions Limited, UK
AntWorks Inc., USA

AntWorks Inc., Philippines
Websiteant.works

AntWorks is an artificial intelligence (AI) and intelligent automation company based in Singapore.

History

The company was co-founded by Asheesh Mehra and Govind Sandhu[1] in 2015. Mehra was formerly the Head of information of Infosys Technologies’ BPO operations in the Asia Pacific, Japan and Middle East regions.[2][3] Mehra had been involved with Infosys for seven years.[1] They founded the new company to cater to the financial services and healthcare industries.[1] It was initially headquartered in Singapore, with three delivery centers in India [1] including an office in Mumbai .[4] It initially had seed capital of $8 million.[1]

In June 2015, it was announced that the company was planning on acquiring two American firms.[5] In October 2015, the company purchased Benchmark Systems, a company based in the United States .[6][7] At the time, AntWorks primary delivery system was in Pune, India.[7] Its first year, the company had $11 million in revenue.[6] In March 2016, the company hired Greg Hackney to lead healthcare.[8] In June 2016, the company announced it had upped its three-year revenue goal to $50 million and was scouting for acquisitions.[6] The CEO attributed the increased goal as a result of the company's "transparent" pricing system.[6]

The 2018 research paper "Banking Automation & Roboadvisors: Cost Analyses, Impacts & Opportunities 2018 -2022" by Juniper Research identified Antworks as one of 5 robotic process automation vendors that were market leaders in delivering advanced cognitive, or intelligent RPA solutions.[9][10]

In July 2018, Japanese financial services firm SBI Holdings invested US$15 million (approx. INR 103 crore) in AntWorks. The investment in AntWorks was made through SBI Investment Co, a subsidiary of SBI Holdings.[11] In August 2018, HFS Research placed AntWorks' platform ANTstein in the Top Ten RPA Product 2018.[12]

Products

AntWorks’ primary product is ANTstein, an AI-based RPA software product designed to understand structured as well as semi-unstructured data types such as handwriting and forms, as well as broader cognitive capabilities that include pattern recognition, photos and images. It consists of Integrated technical and operational capabilities in a BOT which can be configured and trained. ANTstein integrates cognitive Machine Learning and autonomous automation into a single technology stack.[13] ANTstein has been categorized by Informationweek.com as a tool that's being adopted to tackle cognitive heavy processes, such as those that require Unstructured Data Processing.[14]

AntWorks has two business models - Business Process as a Service (BPAAS) and Technology as a Service (TAAS).[4] Its products cater to medium and small financial institutions, hospital chains, clinics, and insurance providers.[1] Concerning health care, predictive analytics are used to deal with billing, patient management, and disease management.[1] It provides healthcare services in the United States , Singapore, India, Qatar, the United Kingdom , and the Philippines . One of its products is the AntWorks Solutions Suite for healthcare.[15]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Gooptu, Biswarup, "Former Infosys' BPO honcho Asheesh Mehra resigns from company to start own venture Antworks", Economic Times, https://economictimes.indiatimes.com/tech/ites/former-infosys-bpo-honcho-asheesh-mehra-resigns-from-company-to-start-own-venture-antworks/articleshow/47622328.cms 
  2. ↑ Gooptu, Biswarup (11 June 2015). "The Economic Times: Former Infosys' BPO honcho Asheesh Mehra resigns from company to start own venture Antworks". https://economictimes.indiatimes.com/tech/ites/former-infosys-bpo-honcho-asheesh-mehra-resigns-from-company-to-start-own-venture-antworks/articleshow/47622328.cms. 
  3. ↑ Amit Gera, Komal (15 June 2015). "Business Standard News: Asheesh Mehra exits Infosys, starts Antworks". http://www.business-standard.com/article/companies/asheesh-mehra-exits-infosys-starts-antworks-115061500702_1.html. 
  4. ↑ 4.0 4.1 "Former Infosys BPO head Asheesh Mehra sets up Antworks", The Economic Times, June 15, 2015, https://economictimes.indiatimes.com/tech/ites/former-infosys-bpo-head-asheesh-mehra-sets-up-antworks/articleshow/47679128.cms 
  5. ↑ "Former Infosys' Asheesh Mehra's startup BPO Antworks to acquire 2 firms in US", The Economic Times, June 30, 2015, https://economictimes.indiatimes.com/small-biz/startups/former-infosys-asheesh-mehras-startup-bpo-antworks-to-acquire-2-firms-in-us/articleshow/47878139.cms 
  6. ↑ 6.0 6.1 6.2 6.3 Mendonca, Jochelle (June 13, 2016), "Antworks raises 3-year revenue goal to $50 million", The Economic Times, https://economictimes.indiatimes.com/small-biz/money/antworks-raises-3-year-revenue-goal-to-50-million/articleshow/52723799.cms 
  7. ↑ 7.0 7.1 Gooptu, Biswarup (October 6, 2015), "AntWorks acquires US firm Benchmark in Rs 33 crore all-cash deal", The Economic Times, https://economictimes.indiatimes.com/small-biz/startups/antworks-acquires-us-firm-benchmark-in-rs-33-crore-all-cash-deal/articleshow/49235374.cms 
  8. ↑ Mendonca, Jochelle (March 16, 2016), "Antworks hires Greg Hackney as head of global healthcare services to drive growth", The Economic Times, https://economictimes.indiatimes.com/tech/ites/antworks-hires-greg-hackney-as-head-of-global-healthcare-services-to-drive-growth/articleshow/51426312.cms 
  9. ↑ "Banking Automation & Roboadvisors > Banking Automation & Roboadvisors: Cost Analyses, Impacts & Opportunities 2018-2022". https://www.juniperresearch.com/researchstore/fintech-payments/banking-automation-roboadvisors/roboadvisors-cost-analyses. 
  10. ↑ "Robotic Process Automation In Banking To Generate $900 Mn Revenue By 2022". 7 February 2018. https://www.m2mcafe.com/news/robotic-process-automation-in-banking-to-generate-900-mn-revenue-by-2022-3815. 
  11. ↑ Guptu, Biswarup (31 July 2018). "SBI Holdings subsidiary invests $15 million in AntWorks". Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/sbi-holdings-subsidiary-invests-15-million-in-antworks/articleshow/65200402.cms. 
  12. ↑ Fersht, Phil; Gupta, Saurabh (20 August 2018). HFS TOP 10 RPA PRODUCTS 2018 (Report). www.hfsresearch.com. p. 9. https://www.hfsresearch.com/top-10-reports/hfs-top-10-rpa-products-2018. 
  13. ↑ "AntWorks: Enabling Intelligent, Integrated, end-to-end Automation". January 2018. https://technology-partners.cioreviewindia.com/vendor/2017/antworks. 
  14. ↑ (source: https://www.informationweek.com/software/productivity-collaboration-apps/critical-advice-for-starting-an-rpa-program/a/d-id/1330247)
  15. ↑ Healthcare Services, AntWorks, 2018, https://healthcare.ant.works/industries/healthcare-services/, retrieved 2018-05-30 




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