ioSemantics was founded in 2005 by Steven Bucuvalas, following several years of primary research in combining Formal Methods, Computational Mathematics and Semantic Technologies for use in business applications in the Financial Services and Insurance industries. His unique understanding and synthesis of those disciplines led to several important patent-pending breakthroughs, the formation of ioSemantics and the development of Babel -- ioSemantics' software engineering automation prototype.

ioSemantics has developed a unique approach to emulating human analysis of software and business systems by extending the use of Semantic Technologies and Formal Methods into financial system development. These capabilities can be used to automate the restructuring, migration and modernization of legacy systems, replacing existing manual, error-prone methods.

The use of legacy systems in production environments is ubiquitous in the Financial Services and Insurance industries today, and our market opportunity is quite large, given the underlying importance of and risks associated with system outages in these mission-critical applications.