Oklahoma City, USA-based leading innovator in regulatory technology, Thentia, closed SERIES b extension with US$38 million. The round took place on January 26, 2023. Existing investors, including First Ascent Ventures, Spring Mountain Capital, BDC Capital, and Espresso Capital, led the financing for the company. Meanwhile, it reflects a continued commitment to Thentia’s vision.
Purpose of financing for Thentia
With the latest financing, Thentia seeks to scale its operations. It has plans to further propel accelerated growth. Meanwhile, the company has plans to invest in artificial intelligence. The firm also intends to enhance Thentia’s ability to meet the evolving needs of its rapidly expanding global client base.
What the company’s official has to add
Julian Cardarelli, CEO, Thentia, said, “We’re grateful for the steadfast support of our investors who have played a pivotal role in our journey. Together, we have not only built the regulatory platform of the future but have also achieved remarkable success, becoming a leading force in enabling regulators to stay a step ahead with the rapidly evolving technology landscape. Looking ahead to 2024, we are poised to unveil an array of innovations that promise to redefine the industry landscape. These transformative capabilities are not just enhancements; they are industry-altering advancements that will set a new standard for what is possible, forever changing the way we operate and leading us into a new era of excellence and innovation.”
What the investors have to comment
Richard Black, Co-Founder and Managing Partner, First Ascent Ventures, said, “We are thrilled to continue our support for Thentia with this latest investment. The remarkable strides they’ve made, coupled with their unwavering dedication to innovation in the government technology space, solidify our confidence in their inevitable global prominence. As existing investors, we remain excited about the impressive momentum they have gained, and we look forward to witnessing their continued success in shaping the future of government technology and regulation.”
Jamie Weston, Managing Director, Spring Mountain Capital, further added, “Thentia’s cutting-edge platform stands as a cornerstone for government agencies embarking on the journey of digital transformation. By seamlessly transitioning processes into the 21st century, Thentia empowers organizations to elevate user experiences for citizens while delivering indispensable data crucial for informed decision-making. These strides signify a pivotal shift in advancing government capabilities.”
In addition, Will Hutchins, Managing Director, Espresso Capital. We’re pleased to continue our ongoing partnership with Thentia as it enters a new phase of rapid expansion and growth. The company’s cutting-edge platform delivers tremendous value to customers across North America and Europe by bringing innovation and efficiency to the regulatory industry.”
Mark Smith, Partner of BDC Capital’s Industrial, Clean and Energy Technology (ICE) Venture Fund, further said, “Thentia has brought together an exceptional group of leaders and subject matter experts who grasp the unique challenges facing regulators. Their differentiated expertise is what truly sets them apart and has enabled them to develop a platform that addresses key regulatory functions and positions Thentia as a leader in the regulatory licensing category.”
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