Regology, a company automating enterprise compliance with AI, announced an $8 million Series A round led by ACME Capital.
Regology offers an AI-enabled platform that actively tracks regulatory updates, allowing companies to dynamically monitor changes to business-relevant laws, identify emerging risks and fines, and set up controls to ensure legal requirements are being met.
“With regulations constantly changing at local, federal and global levels, it’s impossible for companies to stay current with human intelligence alone,” said Mukund Goenka, co-founder and CEO, Regology. “Whether it is allowing banks to share financial transaction data or ensuring COVID requirements are met, Regology is helping companies deliver on the promise to be up to date and legal, without headache and human error.”
“Legal and compliance has traditionally been hyper localized, making disparate information and fragmented systems inevitable, even for the most sophisticated companies,” said Hany Nada, co-founder and partner at ACME Capital. “The past year called to light how quickly regulation changes. Regology helps global enterprises keep pace with that change, providing peace of mind to business leaders and operators.”
Regology has built the largest unified database of more than 94 million requirements across millions of sections of law for the Technology and Banking industries, covering 25 countries, more than 1,000 agencies and eight languages. The new capital will be used to further develop its AI platform and expand its team with new hires in engineering and sales, the statement said.
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