Balderton Capital led the Series A round to support international growth and product expansion.
"In compliance, we see lots of entrants with a new workflow, or user-interface tool that is just repackaging the same data. ComplyAdvantage is doing something different, by developing its own proprietary global data set of individuals and companies that pose a threat"
The funding round was backed by Rainbow Seed Fund, Angel CoFund, and various angel groups.
"We have developed a unique product that solves a clear need in the important and rapidly growing governance, risk and compliance software market. To have closed this latest round is a significant moment for us and means that we can further enhance Contego and scale the business into new market sectors. We believe that providing cost effective tools to address compliance, fraud and other business risks will be game-changing for many businesses, both in the UK and internationally."