Castellum.AI, a New York-based global financial crime risk screening platform, raised $4 million in seed funding.
The round was led by Spider Capital, with participation from NewFund, Remarkable Ventures, Cameron Ventures, and angel investors.
Spider Capital is a venture capital firm specializing in seed-stage investments. The firm targets investments in technology-driven enterprise cloud software companies. The firm focuses on investments in the United States, Canada, and Israel. The firm seeks to lead or co-lead seed round investments and also provides follow-on funding by co-investing with other funds. Founded in 2015 and is headquartered in San Francisco, California.
Castellum.AI Use of Funds
The funding will be used to scale its software technology and expand resources.
Castellum.AI is a B2B SAAS compliance platform that helps businesses identify financial crime risk with its patent-pending data enrichment technology that reduces false positives. Castellum.AI provides a global risk data platform for know-your-customer (KYC) and anti-money laundering (AML) compliance, with the goal of reducing false positives by 80% through automated risk data collection, cleaning, standardization, and enrichment. With a global database covering sanctions, PEPs, adverse media, and other risk data categories, users can screen customers and easily comply with AML and terrorist financing regulations.
Company: Castellum.AI Corporation
Round: Seed Round
Funding Month: October 2023
Lead Investors: Spider Capital
Additional Investors: NewFund, Remarkable Ventures, Cameron Ventures
Company Website: https://www.castellum.ai/
Software Category: Financial Crime Risk Data Platform for KYC and AML Compliance