Merlon Intelligence, a San Francisco, CA-based enterprise software company focused on risk management and compliance for financial services companies, closed a $7.65m seed financing round.
The round was led by DCVC with participation from Fenway Summer, Nyca, and Work-Bench.
The company will use the funds to launch its platform.
Led by Founder and CEO Bradford Cross, and new Chief Operating Officer Konrad Alt, Merlon Intelligence leverages machine learning and natural language to provide an anti-money laundering (AML) compliance platform to large financial institutions.
The solution will employ user-friendly workflow to guide AML alert investigation and natural language processing to identify negative news in a variety of languages, translate the relevant information, and highlight it for analyst attention.
Merlon Intelligence plans to bring the same technological process to the areas of transaction monitoring, KYC onboarding, transaction analytics, case management and other important customer needs.
The company’s board of advisors includes:
– Cantwell F. (“Chuck”) Muckenfuss, former Deputy Comptroller of the Currency and partner (retired) at Gibson Dunn
– Neal Wolin, former Deputy Treasury Secretary and COO at Hartford
– Stuart Bell, consultant and former global sales manager/head of growth at Bloomberg
– Mike Marcus, former Chief Risk Officer HSBC.