ComplyAdvantage raises $50m in Series C funding
Financial crime, risk and detection firm, ComplyAdvantage, has raised $50 million in a Series C funding round.
The firm aims for an international expansion across the United States, Europe, and the Asia-Pacific region.
The round was led by Ontario Teachers’ Pension Plan Board through its Teachers’ Innovation Platform (TIP).
Existing investors Index Ventures and Balderton Capital also participated in the round.
ComplyAdvantage claims to use machine learning to help clients manage risk obligations and prevent financial crime.
Founded in 2014, the firm has raised a total of $88.2 million over three funding rounds.
“This funding allows us to accelerate the development of our industry-leading data and suite of products to serve institutions with diverse clients and complex risk exposure,” says Charles Delingpole, CEO of ComplyAdvantage.
“Ontario Teachers’ deep experience and credibility with global financial institutions made them a natural choice to lead the round.”
Jan Hammer, partner at Index Ventures, says ComplyAdvantage is a leader in financial risk detection.
“Detecting financial crime in billions of transactions that take place around the globe has become nearly impossible without the application of data science and machine learning.”