Castellum.AI, a New York City-based global risk data platform provider, raised $4M in seed funding.
The round was led by Spider Capital with participation from NewFund, Remarkable Ventures, Cameron Ventures and new and existing angel investors.
The company intends to use the funds to scale its proven software technology to meet the needs of the world’s largest enterprises through investments in product and engineering and additional resources to connect with new users.
Led by CEO and co-founder Peter Piatetsky, Castellum.AI is a B2B SAAS compliance platform that helps businesses identify financial crime risk with its patent-pending data enrichment technology that reduces false positives. With a global database covering sanctions, PEPs, adverse media and other risk data categories, users can screen customers and easily comply with AML and terrorist financing regulations. Castellum.AI provides screening through its online platform, API, and data subscription services.
Since launching its Beta in March 2022, Castellum.AI has secured over 1,250% user growth, signed Fortune 500 customers including leading banks and insurance companies as well as global government customers, and enabled clients to ace regulatory and audit exams. Additionally, over 100 news organizations and NGOs have received crucial data to facilitate informed discussions on financial crime risk.
The company additionally partners with companies across the compliance industry.
FinSMEs
25/10/2023