ComplyAdvantage raises $50 million in Series C funding round

Regtech and compliance technology provider ComplyAdvantage has closed a US$50 million Series C funding round, bringing the total investment to date to US$88 million. 

ComplyAdvantage uses machine learning and natural language processing to help regulated organisations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

The Series C round was led by Ontario Teachers’ Pension Plan Board (Ontario Teachers’), one of the world’s largest pension plans with C$207.4 billion in net assets, through its Teachers’ Innovation Platform (TIP). Existing ComplyAdvantage investors Index Ventures and Balderton Capital also participated in the round.

“Ontario Teachers’ deep experience and credibility with global financial institutions made them a natural choice to lead the round,” said Charles Delingpole, Founder and CEO of ComplyAdvantage. “Ontario Teachers’ takes a long view of investing that is genuinely aligned with our own vision at ComplyAdvantage to transform how companies mitigate risk.” 

“ComplyAdvantage offers mission-critical technology solutions for combating financial crime and keeping pace with an ever-evolving regulatory landscape,” said Olivia Steedman, Senior Managing Director, TIP, at Ontario Teachers’. “The company is well-positioned to continue its rapid growth as its powerful technology platform transforms the compliance and risk management process for its clients.”

“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. It is this approach that has made ComplyAdvantage into a leader in the category, and the go-to partner for organisations who seek to automate what are still very often manual or inadequate processes,” said Jan Hammer, Partner at Index Ventures.