WiseWorks AI raises £1m in a seed round led by Veridian Ventures to expand its compliance technology.
The London-based compliance technology startup secured funding from Veridian Ventures, SyndicateRoom, Istcapital, Founders Factory, and R42.
WiseWorks AI develops artificial intelligence solutions for financial institutions to automate compliance monitoring and surveillance of digital communications.
London-based WiseWorks AI has secured £1m in a seed funding round led by Veridian Ventures. The company provides artificial intelligence tools designed to help regulated firms track, record, and report internal digital communications.
Additional participants in the round included SyndicateRoom, Istcapital, Founders Factory, and Silicon Valley investor R42. The fresh capital will be directed toward team expansion and further product development.
WiseWorks employs proprietary natural language processing technology to help financial institutions flag potential misconduct and monitor virtual communications. The company plans to scale its operations to meet growing demand driven by remote working trends.
From the founder
"With the rise of remote working, financial institutions are struggling to deal with the sheer level of virtual communications they must analyse for regulatory purposes,"
Teoman Gonenc
Co-founder and CEO at WiseWorks AI
Investor perspective
"Having worked in speech recognition for 30 years, we can see the potential of WiseWorks’ application to transform the way financial institutions monitor and analyse virtual communications and handle costly and time-intensive activities,"
Ronjon Nag
Founder and president, R42
Use of funds
- 01Grow the team
- 02Continue product development
Investors
Categories
About the company
WiseWorks AI
WiseWorks AI provides automated compliance tools for financial institutions to monitor digital communications.