Clausematch secures £8.7m Series B funding led by Lytical Ventures to drive US expansion and product development.
The financing round was led by Lytical Ventures with participation from Flashpoint and Sony Innovation Fund.
Clausematch provides a software as a service platform for compliance document and process management in regulated sectors. The firm serves major financial institutions across North America and Europe.
Clausematch has secured £8.7m in a Series B funding round led by Lytical Ventures. The financing also saw participation from Flashpoint and Sony Innovation Fund, bringing the company total investment to date to over $20m. The capital will be deployed to expand commercial operations in the United States and strengthen product, technology and data science teams.
Founded to streamline compliance and policy management for regulated industries, Clausematch has experienced rapid growth and expanded its client base across North America and Europe. The firm recently launched a core module named Policy Portal, which serves as a centralized repository for organisational policies and procedures. With over 180,000 users, the company counts major institutions such as Barclays among its clients.
From the founder
"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."
Evgeny Likhoded
Founder and CEO at Clausematch
Investor perspective
"Compliance is the cornerstone of any well-reasoned implementation of enterprise policy management, security posture, or corporate strategy."
Steve Berg
Partner, Lytical Ventures
Use of funds
- 01Continue product development
- 02Fund research and development
- 03Expand into international markets
- 04Invest in sales and marketing
Investors
Categories
About the company
Clausematch
Clausematch provides compliance software to help regulated firms manage documents and regulatory obligations.