Beam, a San Francisco, CA-based new compliance technology platform, raised $9m in seed, Series A and venture debt funding.
Greycroft Partners led the Series A round and was joined by prior investor Canaan, which led the seed round, as well as Broadhaven, Conversion Capital, Plug and Play, and Slow Ventures.
In addition, it has secured a $2M debt facility through Silicon Valley Bank.
Founded by CEO Ben Duranske and CTO Andreas Bayer, Beam provides a technology platform that uses new data sources and machine learning to allow fintechs, banks, broker-dealers, cryptocurrency companies, and other regulated financial groups to meet their financial compliance obligations.
The company’s innovative API-based SaaS software analyzes hundreds of factors about millions of financial transactions and provides investigators with interactive analytical tools that are identifying new vectors for financial crime.