Hadrius, a New York-based startup focused on automating SEC (U.S. Securities and Exchange Commission) compliance for Registered Investment Advisors (RIAs) and broker-dealers, raised $2 million in seed funding.
The round included participation from world-acclaimed startup accelerator Y Combinator, Lynett Capital, Singularity Capital, Dorm Room Fund, Unpopular Ventures, and the founders of Arrived, SmartAsset, and FutureAdvisor, among others.
Hadrius Use of Funds
The company will use part of the newly acquired funding to expand Hadrius' compliance coverage to include additional communications channels, enhance its "ComplianceGPT" model, and broaden the range of firms it serves. A portion of the funding will be directed towards further product development.
Founded in 2023 by Thomas Stewart, Som Mohapatra and Allen Calderwood, Hadrius automates the entire SEC ongoing compliance process with AI for financial firms. They cover all required RIA compliance processes, automating tasks, and flagging issues. The company aims for a world where "compliance is the effortless state of financial firms, rather than constant worry requiring expensive vigilance to maintain".
Round: Seed Round
Funding Month: September 2023
Additional Investors: Y Combinator, Lynett Capital, Singularity Capital, Dorm Room Fund, Unpopular Ventures, and the founders of Arrived, SmartAsset, FutureAdvisor
Company Website: https://www.hadrius.com/
Software Category: AI-Powered SEC and FINRA Compliance