Simudyne, a London, UK-based simulation technology company, closed a $6m Series A funding.
The round, which brought total capital raised to date to $10m, was led by Barclays with participation from Graphene Ventures and Gauss Ventures.
The company intends to use the funds to invest in talent and accelerate its engagement with the financial services sector, to expand the application of its enterprise-ready software beyond bank stress testing, financial risk and contagion management. New applications include market execution as well as anti-money laundering.
Led by Justin Lyon, CEO, Simudyne is a simulation technology company that offers organizations a new way to effectively harness the power of agent-based modelling, AI and machine learning to test drive their decisions and drive growth. Its enterprise ready software is currently used by large financial institutions to quickly simulate an unlimited number of future scenarios and measure their impact in a safe, virtual environment.
The company has 30 staff members including six PhDs with expertise across fields such as market simulation, fraud detection and risk management.