Regtech and software-as-a-service (SaaS) company Clausematch has announced the close of a $10.8m (£8.7m) funding round led by Lytical Ventures, with participation from the Sony Innovation Fund and Flashpoint.
London-based Clausematch is a regulatory tech firm that uses artificial intelligence (AI) to help businesses automate policy management and meet regulatory compliance. It also helps employees within a company to work together on documents.
“The global regtech market is expected to reach more than $55bn by 2025 as a growing number of compliance departments across many industries turn to technology and automation to cope with new and ever-changing regulations,” said Antonio Avitabile, managing director-EU, Sony Ventures Corporation.
Clausematch was founded in 2012 and its total funding to date is $20m (£16.2m). The latest funding follows a $5m (£3.58m) Series A round in April 2018.
Avitabile added: “With its unique solution and a leadership team with deep expertise in compliance and financial services, Clausematch is well-positioned to lead this growing market…
