ComplyAdvantage closes $50M Series C

London-based financial crime detection ComplyAdvantage has announced a $50 million Series C funding round, bringing the total investment to date to $88 million. The round was led by Ontario Teachers' Pension Plan through its Teachers’ Innovation Platform, which focuses on late-stage venture and growth equity investments. Existing ComplyAdvantage investors Index Ventures and Balderton Capital also participated in the round.

Founded in 2014, ComplyAdvantage solves for financial crime with self-improving algorithms that absorb and scour structured and unstructured data sources daily, including registers of high-level national and international sanctions, individuals who should be treated with caution, and adverse media coverage.

Last year, the company rebranded to Mimiro but now it appears the company has rebranded back to  ComplyAdvantage.

“ComplyAdvantage offers mission-critical technology solutions for combating financial crime and keeping pace with an ever-evolving regulatory landscape. The company is well positioned to continue its rapid growth as its powerful technology platform transforms the compliance and risk management process for its clients.” – Olivia Steedman, Senior Managing Director, TIP, at Ontario Teachers’.

“Ontario Teachers’ deep experience and credibility with global financial institutions made them a natural choice to lead the round. Ontario Teachers’ takes a long view of investing that is genuinely aligned with our own vision at ComplyAdvantage to transform how companies mitigate risk. This funding allows us to accelerate the development of our industry-leading data and suite of products to serve institutions with diverse clients and complex risk exposure.” – Charles Delingpole, Founder and CEO of ComplyAdvantage.

“Detecting financial crime in billions of transactions that take place around the globe has become nearly impossible without the application of data science and machine learning. It is this approach that has made ComplyAdvantage into a leader in the category, and the go-to partner for organizations who seek to automate what are still very often manual or inadequate processes.” – Jan Hammer, Partner at Index Ventures.