KnowledgeLake said it has raised $65 million in new funding to bolster its cloud-based platform that optimizes the relationship between human workers and “synthetic labor.”
The St. Louis-based firm, founded in 1999, announced the cash infusion at the same time it named long-time COO and CFO Kevin Herr to succeed co-founder Ron Cameron as CEO. Cameron, who, along with co-founder Bob Bueltmann, sold KnowledgeLake to Fujitsu in 2013, reacquired the company in 2018 and had served as CEO since then.
KnowledgeLake said organizations are moving away from stitching together multiple, disconnected systems, looking instead for unified platforms. Its strength in Intelligent Document Processing combined with machine learning, agentic AI, RPA, orchestration and content management in a cloud-native environment will enable users to leverage what it calls “synthetic labor” with human governance to achieve that end.
“Our technology provides document-centric organizations an unparalleled, easily integrated infrastructure to modernize operations,” said Herr. “We’re thrilled to work with Edison’s investors and operators to bring KnowledgeLake to enterprises striving to manage costs while investing in digital transformation.”
According to KnowledgeLake, it now counts more than 220 customers across the government, healthcare, manufacturing, financial services and education sectors.