CHICAGO, March 27, 2023 -- Zengines, the first AI-powered data conversion platform, announced today the closing of $5M in funding led by Hyde Park Venture Partners with participation from Hyde Park Angels. The funding will be used to expand product, engineering, and go-to-market capabilities.
When organizations migrate data to new applications, systems or outsourced services, Zengines automates the end-to-end data conversion process. This reduces the risk, time and cost associated with implementing new technologies.
“Organizations and their systems are in constant change,” said Caitlyn Truong, Zengines co-founder and CEO. “It’s estimated that companies spend more than $100B per year converting their data to new systems. The problem is messy and complex and limits an organization’s ability to execute their business and technology strategy. With Zengines, there’s a better way.”
The Zengines data conversion platform has three major components.
- Analyzer. Identify data requirements for new target systems and analyze the data and schemas of the source systems that are being replaced.
- Mapper. Generate field and code list matchings, perform needed data transformations, quality checks, and business rules.
- Loader. Load the target systems with the transformed data directly through load files or APIs. Test and validate that the conversion was completed correctly.
“Data conversion efforts still rely on spreadsheets to map the fields and custom code to do the heavy lifting,” said Carl Drisko, Zengines co-founder and CTO. “Zengines has developed industry-specific AI models that dramatically improve the speed at which data is analyzed, matched, transformed, and loaded into new target systems.”
“We’re thrilled to be working with the Zengines team,” said Greg Barnes, Partner at Hyde Park Venture Partners. “The founding team at Zengines is a group of industry experts solving one of the most painful problems facing all enterprises; successfully and efficiently converting critical data to new systems.”
Zengines has created an entirely new way of converting data. The Zengines AI platform automates the end-to-end data conversion process, reducing the time, cost and risk associated with data conversions, system migrations and data onboarding for a variety of business solutions. Zengines is used by leading enterprises, software vendors and consultants across multiple industries.
VP, Product & Marketing