IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

ComplyAdvantage raises $50M in Series C funding round

Latest funding round brings the to-date investment to $88 million

ComplyAdvantage, a tech company transforming financial crime detection, has raised $50 million in a recent Series C funding round. The fundraising brings the total investment to date in the company to $88 million. 

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) led the funding, but existing investors Index Ventures and Balderton Capital also participated. The $50 million investment will assist the ComplyAdvantage product and market expansion throughout the US, Europe and Asia-Pacific region.

Using machine learning and natural language processing, ComplyAdvantage helps regulated organizations manage risk obligations and prevent financial crimes. To do so, the company’s proprietary database leverages millions of data points to provide real-time insights across sanctions, watchlists, politically exposed persons and negative news.

By reducing dependence on manual review processes and legacy databases by up to 80%, ComplyAdvantage improves how companies screen and monitor clients and transactions.

“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,” Steedman added.

The Ontario Teachers’ is one of the world’s largest pension plans with 207.4 billion Canadian dollars ($155.17 billion) in net assets and focuses on late-stage venture and growth equity investments in companies using disruptive technology.

Charles Delingpole, founder and CEO of ComplyAdvantage, said of the investment: “Ontario Teachers’ takes a long view of investing that is genuinely aligned with our own vision at ComplyAdvantage to transform how companies mitigate risk. 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.”

ComplyAdvantage has offices in New York, New York; London, England; Singapore; and Cluj-Napoca, Romania. To date, more than 500 enterprises in 75 countries rely on ComplyAdvantage’s technology to prevent financial crimes.

Featured Resources

Four strategies for building a hybrid workplace that works

All indications are that the future of work is hybrid, if it's not here already

Free webinar

The digital marketer’s guide to contextual insights and trends

How to use contextual intelligence to uncover new insights and inform strategies

Free Download

Ransomware and Microsoft 365 for business

What you need to know about reducing ransomware risk

Free Download

Building a modern strategy for analytics and machine learning success

Turning into business value

Free Download

Recommended

Operationalising anti-fraud on the mainframe
Whitepaper

Operationalising anti-fraud on the mainframe

5 Apr 2022
Revolutionising the lending process with IBM Cloud Paks
Whitepaper

Revolutionising the lending process with IBM Cloud Paks

1 Apr 2022
Injecting simplicity, speed, and innovation in core insurance processes
Whitepaper

Injecting simplicity, speed, and innovation in core insurance processes

1 Apr 2022
The new normal: The future role of finance
Whitepaper

The new normal: The future role of finance

10 Mar 2022

Most Popular

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack
hacking

Russian hackers declare war on 10 countries after failed Eurovision DDoS attack

16 May 2022
16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

13 May 2022
Google Russia files for bankruptcy, ends operations in the country
Business operations

Google Russia files for bankruptcy, ends operations in the country

19 May 2022