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

Unleashing the power of AI initiatives with the right infrastructure

What key infrastructure requirements are needed to implement AI effectively?

Download now

Achieve today. Plan tomorrow. Making the hybrid multi-cloud journey

A Veritas webinar on implementing a hybrid multi-cloud strategy

Download now

A buyer’s guide for cloud-based phone solutions

Finding the right phone system for your modern business

Download now

The workers' experience report

How technology can spark motivation, enhance productivity and strengthen security

Download now

Recommended

Panel Profile: Yolt CTO Roderick Simons
chief technical officer (CTO)

Panel Profile: Yolt CTO Roderick Simons

25 Jan 2021
Mobile fraud campaign nabs millions from US and EU banks
hacking

Mobile fraud campaign nabs millions from US and EU banks

17 Dec 2020
The IT Pro Podcast: Modernising money management
digital transformation

The IT Pro Podcast: Modernising money management

20 Nov 2020
HubSpot reports huge revenue gains in Q3 2020
customer relationship management (CRM)

HubSpot reports huge revenue gains in Q3 2020

6 Nov 2020

Most Popular

WhatsApp could face €50 million GDPR fine
General Data Protection Regulation (GDPR)

WhatsApp could face €50 million GDPR fine

25 Jan 2021
How to move Windows 10 from your old hard drive to SSD
operating systems

How to move Windows 10 from your old hard drive to SSD

21 Jan 2021
What is a 502 bad gateway and how do you fix it?
web hosting

What is a 502 bad gateway and how do you fix it?

12 Jan 2021