London, The U.K-based global regulatory tech platform Clausematch announced the close of a strategic investment funding at USD 10.8 million. The company announced the news on June 14, 2022. Lytical Ventures led the funding for Clausematch. Meanwhile, Flashpoint and Sony Innovation Fund invested in the company.
Purpose of Funding by Clausematch
With the latest capital infusion, Clausematch aims to increase its commercial activities in the US and the European regions. Meanwhile, it will invest in its product teams and offerings. Simultaneously, it will look to boost its technology and data science teams.
Since its inception, Clausematch’s total investment now stands at over USD 20 million. Previously in 2018, the company raised USD 5 million in a Series A round.
What the founder has to say
Evgeny Likhoded, Founder and CEO, Clausematch, said, “We got pulled to the US market. We saw significant demand for our solution in the financial services sector. With this funding round, we are increasing our sales and marketing efforts in the US and European markets. And we are also continuing to invest in our technology 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.”
What the investors have to say
Steve Berg, Partner, Lytical Ventures, said, “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 must 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. We expect that the company will develop into the market-dominant player in this space.”
In addition, Donatella Callegaris, Managing Partner of Flashpoint Venture Debt, said, “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.”
Antonio Avitabile, Managing Director-EU, Sony Ventures Corporation, said, “The global RegTech market is expected to reach more than USD 55 billion 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. With its unique solution and a leadership team with deep expertise in Compliance as well as financial services, Clausematch is in a good position to lead this growing market globally.”
About Clausematch
Brought into existence in 2012, Clausematch is a software-as-a-service platform (SaaS) for smart management of compliance documents and processes, enabling regulated companies to meet compliance obligations. It caters to more than 18000 users and has doubled its customer base in 2021.
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