Funding & Business
AI Logistics Startup Augment Launches With $25 Million Seed Funding

Harish Abbott, Deliverr cofounder and former Shopify vice president, launched a new startup called Augment out of stealth on Tuesday.
Augment is building an AI assistant for the logistics industry. It has raised $25 million in seed funding, led by 8VC.
The AI assistant, called Augie, can respond to emails and Slack messages, make and receive phone calls, manage workflows, and perform other routine tasks.
“You can text them, you can email them, you can message them on Slack. You can assign work to them, and they go about doing their work,” Abbott told Business Insider in an exclusive interview.
Abbott said the idea for Augment came from a desire to use AI to make an impact on an industry he knows well. He cofounded Deliverr, a startup that built software to enable quick shipping, and sold it to Shopify for $2.1 billion in 2022. A year later, Shopify sold Deliverr (and the rest of its logistics business) to Flexport. Abbott spent just under a year at Flexport before starting to build Augment in the summer of 2024.
Augment will start in trucking, targeting shippers, brokers, and trucking companies before expanding to the larger logistics industry. Abbott said that Augie has been used in businesses that collectively have $20 billion of freight under management. Its early customers include Austin-based brokerage Arrive Logistics and third-party logistics provider NFI.
Trucking is a nearly trillion-dollar industry in the US, and trucking companies serve as the connective tissue for commerce, transporting shipments between warehouses, ports, and retail stores. The last three years have been difficult for this industry as it’s endured one of the longest recessions in its history. This means transportation companies are looking for ways to alleviate pressure on their margins, Abbott said.
It’s also a very fragmented industry. There are hundreds of thousands of trucking companies in the US, and no one standard system they all use to conduct business, besides email. Abbott said that when shadowing people working in this space, he saw that employees receive as many as 500 to 600 emails a day.
“When a shipper has to book a truck, they email maybe four or five brokers,” Abbott said. “The broker responds, then they go back and forth and negotiate on a bid. Then the broker takes that and emails 10 or 15 trucking companies, then they respond.”
Augment
‘Logistics is not solved’
Abbott said his time at Shopify gave him an “even stronger feel of the problems” faced by the millions of merchants using the e-commerce platform. Getting their products to customers remains one of merchants’ biggest challenges and costs.
His time at Flexport, meanwhile, showed how “messy” global trade can be.
“It reinforced for me that one, logistics is not solved. Two, it’s crucially important. And three, I think AI is the answer to these problems,” he said.
Augie runs on different large language models depending on the scenario, including Anthropic’s Claude, OpenAI’s GPT-4, Meta’s Llama, and DeepSeek. It learns from employees’ emails, phone calls, and documents about how workers typically do their jobs. Abbott said that while Augie learns quickly, it still needs the help of employees to make decisions as it can’t understand the nuance of human relationships.
“That’s why the model for Augie is: I’m gonna superpower you, my human boss. I’m gonna bring you the knowledge. I’m gonna work 24/7 to take all the tedious parts away,” Abbott said. “Now you can make a better judgment call than you would otherwise because you were so busy before.”
Augment’s founding team also includes CTO Artur Rivilis, who ran engineering for Deliverr, served as vice president of engineering at Shopify, and then spent some time at Flexport after its acquisition of Shopify Logistics. Cofounder Justin Hall, who will lead growth for Augment, had stints as CEO of logistics company Primo and as chief customer officer at YRC Worldwide. Hall was also previously an executive in residence at 8VC.
8VC, founded by Palantir cofounder Joe Lonsdale, was also the first investor in Deliverr.
“Augment’s an even bigger idea — one that parallels Palantir’s approach of understanding the workflow and knowledge ontology, to apply AI and solve critical problems,” Lonsdale said. “Harish is poised to build a generational company that brings productivity and intelligence to one of the largest industries in the world.”
Augment has a team of about 50 people, mostly working in engineering. It plans to build a customer success team in Chicago. It has offices in Chicago, San Francisco, and Toronto.
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Funding & Business
Trump Files $15 Billion Defamation Lawsuit Against New York Times

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Funding & Business
WorkFusion, With Several Big Banks As Customers, Lands $45M For AI Agents ‘To Stop Bad Actors’

WorkFusion, a startup that has developed AI agents for financial crime compliance, has raised $45 million in funding, the company told Crunchbase News exclusively.
Founded in 2010 out of MIT Labs, New York-based WorkFusion pivoted a few years ago from general automation and intelligent document processing to focus on its AI agents for financial crime compliance, according to CEO Adam Famularo.
Originally, WorkFusion “was trying to automate pretty much anything for anybody,” he said.
“It would use any one of its baseline technologies to do that work. But the problem was that you can’t scale something like that,” Famularo recalls. “It wasn’t really, truly productized.”
So when Famularo came on board in 2021, the company surveyed all of its customers and discovered that the most successful use cases were around fighting financial crimes.
Famularo said the company “wound up doing a deal with five banks” after he persuaded the WorkFusion team to consolidate their existing machine learning models. These models were then packaged as AI agents, and given specific names and job roles, to simplify the hiring process for banks.
WorkFusion officially launched the agents in February 2022. “That was the rebirth of the company,” Famularo said.
Agents trained for the job
The agents, he added, come “out-of-the-box trained” with up to five years of experience in a specific job. WorkFusion is betting that financial institutions would rather not spend the time to build their own agents.
“Our AI Agents are easy to hire, easy to configure, easy to integrate and easy to scale,” Famularo said in an interview. “We view our purpose as to help stop the bad actors.”
The agents perform job functions such as sanctions screening alert review, adverse media monitoring, transaction monitoring investigations, onboarding, Know Your Customer refresh, enhanced due diligence/high risk review, and fraud alert review.
Besides saving banks time, WorkFusion claims that its agentic AI for financial crime compliance is also cheaper than hiring or outsourcing and are performing work “consistently and accurately,” with compliance with policy and regulations “significantly strengthened.”
Clients and investors
Georgian, a growth-stage B2B investor that aims to help companies scale faster via its AI Lab, tripled down on its investment by leading WorkFusion’s latest round.
Serengeti Asset Management, a previous backer that had sold its stake, came back in to participate in the financing. It was joined by Famularo, NGP Capital, Teralys Capital, Hawk Equity and a host of others.
With the latest funding round, WorkFusion has raised a total of $251 million in equity in various primary transactions to fund its operations, Famularo said. It has also raised about $90 million in secondary transactions in which investors paid to purchase shares from other shareholders.
Today, WorkFusion has 25 customers, including 10 of the top 20 banks in the United States and other “top” financial institutions around the world. Some examples include Raymond James, Valley Bank, Bank of Montreal and Deutsche Bank. The company operates in North America and Europe and plans to expand into the Middle East.
“We took this business from zero to $22 million in ARR over the past four years,” Famularo said. “And we expect that to grow 60% to 70% a year.”
WorkFusion has no debt, according to Famularo, and has “a line of sight of profitability.” It has fewer than 200 employees, and plans to use its new capital in part to do strategic hiring.
Justin Lafayette, co-founder of Georgian, describes WorkFusion as “a unifying technology layer” for many of the world’s leading financial institutions.
“It has shown it can evolve quickly to meet these institutions’ needs,” he told Crunchbase News via email. “We believe the re-launch of the company in 2022 focusing on AI Agents for financial crime is an example of the right product, at the right time, from the right company.”
Ray Yousefian, senior managing director, of Serengeti Asset Management, noted that as his firm started to look deep into the product and speaking to customers, it “quickly became one of the clearest use cases of advanced agentic AI that is able to be deployed quickly and providing enormous value to clients.”
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Illustration: Dom Guzman
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