Compliance.ai, a San Francisco, CA-based provider of RCM solutions for the banking, financial services and insurance industries, raised $6M in funding.
Backers included Cota Capital and Jam Fintop.
The company intends to use the funds for market growth.
Compliance.ai provides a Regulatory Change Management platform designed to mitigate risk, reduce costs, and increase confidence in compliance status for the banking, financial services, and insurance industries. Through its platform, the company helps compliance teams increase accuracy, improve productivity, and reduce compliance gaps. This next chapter of Compliance.ai will be focused on growth and expansion. Recently, the company announced the global expansion of its platform providing access to regulatory change management applicable in 25+ countries.
In parallel, the company has brought in Asif Alamwho is joining as CEO, while Kayvan Alikhanicontinues his key role in innovating the product as Co-founder and Chief Product/Strategy Officer.
Most recently Alamwho served as the Chief Strategy Officer of ThoughtTrace, which was acquired by Thomson Reuters earlier this year. He brings more than 20 years of management and business experience; increasing profitability, unlocking new revenue streams and markets, and reignite portfolio growth for companies like Thomson Reuters, Crux Informatics, and Finastra.
FinSMEs
03/08/2022