ClauseMatch, a London, UK-based RegTech startup, raised $5m in Series A funding.
The round was led by Index Ventures, joined by Talis Capital, with participation from previous investors, including Speedinvest, Tom Glocer, former CEO of Thomson Reuters, and Cristobal Conde, former CEO of Sungard.
The company will use the funds to continue to accelerate development of the product.
Led by Evgeny Likhoded, CEO and co-founder, ClauseMatch is a collaboration platform that applies machine learning to enable compliance, legal, finance, operations and risk departments to automate impact assessments, streamline the implementation of regulatory change and to collaborate on thousands of documents across the entire organization.
The company applies deep understanding of the regulatory lifecycle and machine learning to standardize and automate processes and workflows across teams, reducing costs, speeding up implementation and demonstrating compliance to regulators.
ClauseMatch works with financial institutions, legal firms and corporates including Barclays and Intesa San Paolo.