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Compliance.ai Closes Its Series A Financing Led by Cota Capital

By CIOReview | Monday, November 23, 2020

Leading regulatory change management platform expands internationally and enhances its workflow, reporting, and collaboration capabilities.

FREMONT, CA: RegTech firm Compliance.ai has closed its Series A round of financing, raising $3 million in additional funding led by Cota Capital. The company is committed to offering best-in-class RCM processes for compliance risk officers, officers, counsel, and regulators alike. This includes expanding G-20 enhanced workflows, regulatory coverage, advanced reporting, and expanding its partnerships with the industry's pioneering GRC's to facilitate accessibility.

Compliance.ai's platform is growing quickly, both in terms of the capabilities it offers and its client base of compliance and risk professionals. The Series-A funding will boost expansion into international jurisdictions and expedite its mission of transforming compliance processes. Compliance.ai helps compliance professionals sail the mounting and complex regulations. Its AI-platform replaces the complex and time-consuming processes involved in managing regulatory compliance. With Compliance.ai, users are armed with a modern method to responding to the volume and velocity of regulations.

Compliance.ai's Expert Connection offers users access to domain experts who publish manuals, whitepapers (from law firms) and deliver regulatory guidance to its clients. Compliance.ai has recently added two significant premium content partners. Nacha develops rules and standards for financial transactions that enhance compatibility and integration among financial institutions worldwide.  WesPay, payments associated with a library of reference guides, ACH and Remote Deposit Capture (RDC) sample policies, workbooks, and ACH audit guides.

With the evolution of Compliance.ai as the provider of RegTech solutions, the company has expanded its Advisory Board to include industry experts with  Christine Reddy, Vice President & Deputy Corporate Secretary, Fannie Mae, Marty T. Mitchell, Certified Regulatory Compliance Manager & Managing Director, ProBank Austin, Louisville, Washington DC. Jeffrey Smith, Founder & Managing Attorney, LawVisory, and Chief Legal Officer and Chief Compliance Officer, Virtue Capital Management, Nashville, and Kelvin Dickenson, Strategic Advisor & Certified Financial Crime Specialist, New York.

In line with its emerging services, Compliance.ai has published a new case study and technical whitepaper assisting compliance officers in building a case for transforming their legacy RCM processes by adopting a leading RegTech Solution while comparing their method with industry best practices. Compliance.ai has published a new RCM RegTech template that firms can use to market-fit their demands against RegTech metrics.