* Strategic investment round to fuel rapid expansion into the US following the FinTech Innovation Lab acceleration
London - New York - San Francisco -- Clausematch, a global RegTech company automating policy management and compliance for regulated industries, today announced the close of a US$10.8M strategic funding round led by Lytical Ventures and joined by Flashpoint and Sony Innovation Fund. The new financing will be used to increase the company's commercial activities in the US and invest in its product, technology and data science teams. The new funds bring the total investment to date to over US$20M.
Clausematch is a financial technology company that provides a software-as-a-service platform (SaaS) for smart management of compliance documents and processes, enabling regulated companies to meet compliance obligations. Since its last funding, the team has made numerous advancements to its product offering and launched a new core module, Policy Portal, which has been adopted by all of Clausematch's biggest clients. Policy Portal is designed to be a single real-time up-to-date repository of all policies and procedures across an organisation.
The company's presence in North America has grown significantly since the company's participation in NY-based FinTech Innovation Lab. Clausematch's unique and easy-to-use policy management and compliance solution has seen rapid adoption as clients grapple to ensure ongoing regulatory changes are reflected across all documentation. With over 180,000 users, the company has more than doubled its customer base in 2021. Clausematch counts several Tier 1 banks in North America and Europe, including Barclays, as clients.
Evgeny Likhoded, Founder and CEO, Clausematch, says: "We got pulled to the US market and saw a significant demand for our solution in the financial services sector. With this funding round we are increasing our sales and marketing efforts on the US and European markets. And we are also continuing to invest in our technical and product capabilities to automate compliance workflows and apply our data science models to the compliance content as one of the biggest challenges that heavily regulated firms are facing is keeping up with the volume of regulatory change."
Steve Berg, Partner, Lytical Ventures: "Compliance is the cornerstone of any well-reasoned implementation of enterprise policy management, security posture, or corporate strategy. If there is anything that today's geopolitical climate demonstrates, it is that companies are required to be proactive and dynamic in their approach to compliance. Clausematch is among the most forward-thinking companies offering a solution today, and its adoption by some of the most trusted institutions in the US and Europe is proof. Our expectation is that the company will develop into the market-dominant player in this space."
Donatella Callegaris, Managing Partner of Flashpoint Venture Debt added: "We are proud to welcome Clausematch to the Flashpoint family! We see the successes that Evgeny and Team are demonstrating in the US market and are happy to support them on their exciting growth path."
"The global RegTech market is expected to reach more than $55B US by 2025 as a growing number of compliance departments across many industries turn to technology and automation to cope with new and ever-changing regulations," said Antonio Avitabile, Managing Director-EU, Sony Ventures Corporation. "With its unique solution and a leadership team with deep expertise in compliance and financial services, Clausematch is well positioned to lead this growing market globally."
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About Lytical Ventures
Lytical Ventures is a New York City-based venture firm investing in Corporate Intelligence, comprising cybersecurity, data analytics, and artificial intelligence. Lytical's professionals have decades of experience in direct investing generally and in Corporate Intelligence specifically. Lytical Ventures was founded to identify and partner with passionate, barrier-breaking entrepreneurs, enabling the establishment and fast scaling of novel, differentiated, value-adding companies. The firm is an affiliate of Lytical Partners, which, with affiliates, manages over $10 billion in private equity, real estate, traditional equity, venture, and hedge funds.
About Flashpoint
Flashpoint is an international investment group ?. US$500m AuM with a focus on Western Tech Companies founded by expats from Emerging Europe & Israel. Flashpoint manages six venture funds: four VC funds, a Venture Debt Fund, and a Secondary Fund. Investors in Flashpoint's funds include more than 120 major family offices and HNWIs. The company has offices in London, Tel-Aviv, Budapest, Warsaw, Riga and Nicosia. The funds have made investments in over 50 companies including names such as Guesty, Chili Piper, and Office RnD. Flashpoint has completed eleven exits, including the sale of its stakes in Shazam (to Apple) and Chess.com (to PokerStars founders and General Atlantic).
About Sony Ventures
Sony Ventures Corporation manages Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation, a wholly owned subsidiary of Sony Group Corporation, is headquartered in Japan.
About Clausematch
Clausematch is an award-winning regulatory technology (RegTech) company that enables heavily regulated organizations and other regulated companies to run their businesses safely and meet compliance obligations. Clausematch's AI-powered platform provides end-to-end policy management and regulatory compliance solutions to help organizations navigate the compliance lifecycle. Clausematch applies a deep understanding of the regulatory lifecycle and machine learning to help teams working in Compliance, Finance, Legal and Risk collaborate on documents in real-time and demonstrate compliance to regulators, while significantly reducing costs. Clausematch is a successful graduate of several accelerator programs, including the inaugural Barclays accelerator program and FinTech Innovation Lab in New York and London, the winner of several prestigious industry awards including BBVA Open Talent challenge, ADGM Global FinTech of the Year and A-Team Innovation. The company is in the top 10 RegTech companies selected by Dow Jones, Financial News and by the Times and is in the CB Insights list of the most promising FinTech companies globally.
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