Intelligent Automation for Workers' Compensation.

The ExtractWC Story

Though founded in early 2019, Foundation AI’s story probably begins about a decade earlier, when its eventual CEO Vivek graduated from UCLA Law and found himself working at a large California workers compensation defense firm while simultaneously representing several startup technology companies. Around 2013, he began working with Vamsi (Foundation AI’s CTO) and Venki (its Chief AI Officer) who were starting Enlightiks, a healthcare analytics company building Querent (which eventually became one of the world’s largest healthcare provider analytics platforms). Enlightiks' published several cutting-edge papers on computer vision and natural language processing applications, and was even specifically mentioned for its AI prowess in Microsoft CEO Satya Nadella’s memoir "Hit Refresh." Enlightiks' Querent product extracted over 300 billion data elements from over 36 million patients’ claim files and medical records before the company was succesfully acquired in 2016 in an eight-figure transaction.

Like many lawyers, Vivek had never seen real, practical AI in action. When he did, he was instantly fascinated, specifically with how this cognitive processing technology could streamline the inefficient, labor intensive document workflows bogging down legal, healthcare, and insurance companies. After exiting Enlightiks, Vivek spent his new free time earning his MBA at UCLA where he specialized in entrepreneurship and technology management, and built the Foundation AI business plan. On his first day of his first class he met Victor (Foundation AI’s COO) who, as Director of Operations for an enterprise technology company, led it through an exit in 2017.

In 2018, Vivek got the Four Vs together, and in early 2019, launched the first iteration of the Foundation Extract platform which powers ExtractWC.