Unit21, a San Francisco, CA-based platform of no-code tools for risk and compliance teams, raised $13m in funding.
The round was led by A.Capital Ventures with participation from Gradient Ventures (Google’s AI venture fund), Core VC, South Park Commons, Diane Greene (founder of VMWare), William Hockey (founder of Plaid), Chris Britt and Ryan King (founders of Chime), Sumit Agarwal (founder of Shape Security), and Michael Vaughan (former COO of Venmo).
The company will use the new capital to grow its product and distribution-focused management team, increase sales and marketing efforts, and launch in new industries.
Founded in 2018 by former Affirm and Shape Security employees Trisha Kothari and Clarence Chio, Unit21 helps protect businesses against adversaries through an API and dashboard for detecting and managing money laundering, fraud, and other sophisticated risks across multiple industries. The intelligent cloud-based gives a configurable engine for transaction monitoring, identity verification, case management, operations management, and analytics and reporting. The company’s tools have the capability to handle risk and compliance needs across geographies such as North America, Africa, Europe, and Asia.
Customers include Intuit, Coinbase, Gusto, and Line to create a customizable rules engine for risk and compliance teams.
FinSMEs
19/10/2020