4CRisk.ai, a Redwood City, CA-based provider of advanced AI solutions for risk and compliance functions, raised $8m in Series A funding.
The round was led by Cloud Apps Capital Partners and joined by Touchdown Ventures as a syndicate partner.
The company intends to use the new capital for hiring and global expansion.
Led by Venky Yerrapotu and Supra Appikonda, 4CRisk.ai provides advanced AI solutions that help organizations identify, manage and assess the impact of regulatory obligations and strengthen the internal control environment around an ever-evolving regulatory, business, and external risk environment. The company’s AI-powered Data Intelligence Platform is now being used to emulate human intelligence and augment regulatory, risk, and compliance professionals to automate time-consuming risk and compliance processes. Its compliance mapping solution digitally connects the regulatory requirements to the internal control environment, and provides compliance officers with the ability to continuously assess the design and operational effectiveness of the control environment.