Corlytics, a Dublin, Ireland-based-based company which specializes in regulatory intelligence and policy compliance technology, received a majority stake investment from Verdane.
The amount of the deal was not disclosed.
The company intends to use the funds to consolidate its global category leadership, accelerating organic growth and M&A.
Led by CEO John Byrne, Corlytics is a global leader in regulatory intelligence, content and automated policy compliance and attestation. The company offers a platform that manages the entire regulatory risk value chain and provides assurance on regulatory changes to compliance, risk, legal and audit teams globally.
The compliance solution is plugged directly into international regulators, enabling clients to align with, and stay ahead of, regulatory demands.
Since 2020, Corlytics has grown 60% per annum, driven by its core regulatory compliance products. The number of customers has roughly doubled during this period. In 2023, the company made two acquisitions – ING SparQ in January and Clausematch in July – creating a platform that manages the entire regulatory risk value chain on a global scale, elevating its offer for Tier 1 organisations including ING, BNY Mellon, ScotiaBank and SwissRe.
Commenting on the news, John Byrne said: “Corlytics has successfully progressed in developing new products to further improve our value proposition to Tier 1 clients globally. This investment from Verdane ensures the continued growing market leadership for Corlytics. We look forward to partnering with the Verdane team and with their experience and expertise, we expect to accelerate organic growth and augment that with M&A activity. As well as investing significantly in our ‘intelligent content’ offering, combining data, software and AI, we will continue to lead the RegTech sector consolidation with more complementary acquisitions, following our recent transactions with Clausematch and ING SparQ.”
FinSMEs
10/04/2024