Rage Frameworks

About Rage Frameworks

Rage Frameworks, established in 2007, operated as a key player in knowledge-based automation technology, specializing in Artificial Intelligence for enterprise applications. The company was founded by Dr. Venkat Srinivasan, a serial entrepreneur with a Ph.D. from the University of Cincinnati College of Business and multiple patents in technology architecture. His journey reflects a deep-seated interest in applying AI to solve complex business issues, having previously founded and exited two other companies, eCredit and Corporate Fundamentals. Before its acquisition, Rage Frameworks secured $15 million in a Series B funding round in October 2013, led by Kayne Anderson Capital Advisors.

The company's core offering was the RAGE AI™ platform, a patented, no-code framework designed for the end-to-end automation of knowledge-based processes. This platform distinguished itself by moving beyond simple natural language processing to a more advanced natural language understanding, allowing for transparent and auditable solutions. It provided clients with real-time insights by automating functions like reading and extracting data from unstructured financial documents, contracts, and business reports. Rage's business model focused on providing its platform on a subscription basis for both pre-configured and custom-built solutions. The company catered to a high-value clientele, including Fortune 100 companies, large banks, manufacturers, and Big 4 consulting firms across sectors like financial services, insurance, life sciences, and high tech.

A significant milestone in the company's history was its acquisition by Genpact in March 2017 for an undisclosed amount. This event followed an 18-month strategic partnership between the two firms, where they collaborated on solutions for major clients in the insurance and consumer packaged goods sectors. The acquisition was a strategic move by Genpact to embed Rage's advanced AI capabilities into its own business operations and digital transformation services, aiming to address complex enterprise challenges at a scale and speed previously unattainable. Post-acquisition, Genpact planned to expand the AI offerings to a broader client base, targeting applications such as supply chain optimization, supplier risk management, and automated contract reviews.