Sigma Ratings ("Sigma"), a New York-based AI-driven global risk screening and monitoring platform that powers compliant commercial relationships, announced that it raised Series A funding.
The round was led by Mosaik Partners, with participation from existing investors FinTech Collective and Contour Ventures, as well as new investor AngelList Ventures, who joins existing shareholders Fitch Ratings and Barclays PLC.
Sigma will use the funding to expand its commercial functions and invest in additional product and engineering talent to deepen its innovative risk and compliance software platform, which saw 250% revenue growth and a doubling of its client base during the pandemic.
As part of the deal, John Katzenmeyer, Partner at Mosaik Partners, will join Sigma's Board of Directors.
"Firms are looking for faster, smarter ways to perpetually evaluate customer and third-party risk. Doing so helps these firms manage potential downside risk, confidently expand relationships and automate and improve upon existing processes. Our platform answers that need through enriched global data, intelligent and configurable workflows, and innovative technology applications that simply outperform legacy approaches."—Stuart Jones, Jr., Founder and CEO of Sigma, said.
Company: Sigma Ratings, Inc.
Round: Series A
Funding Month: September 2022
Lead Investors: Mosaik Partners
Additional Investors: FinTech Collective, Contour Ventures, and AngelList Ventures
Company Website: https://www.sigmaratings.com/
Software Category: Risk Management
About the Company: Incubated at MIT in 2017 and founded by Stuart Jones, Jr. and Gabrielle Haddad, Sigma Ratings is a leading AI-driven risk intelligence platform used by global organizations to fight financial crime and make more informed counterparty risk decisions. Sigma's cloud-based data platform has emerged as the definitive choice for point-in-time risk screening and perpetual client monitoring. Underpinned by thousands of fully integrated and hosted data sources and proprietary resolution, risk extraction, and scoring algorithms, the platform can identify and return direct and network-based entity risk at sub-second speeds. Sigma's solutions are used by financial institutions, professional services firms, fintechs, and global corporations seeking to consolidate operations into a singular risk intelligence platform and more efficiently manage the entire client lifecycle.
Sigma's platform capabilities include: i) a fully integrated, dynamic data feed of contextualized AML, sanctions, financial crime, geographic and credit-related risk intelligence; ii) a configurable, end-to-end risk screening and investigation platform; and iii) an always-on entity resolution and monitoring view for scalable risk-awareness across global customers, third parties and their associates.