Silent Eight, a Singapore-based startup specializing in AI for economic sanctions enforcement and financial crime prevention, raised $40 million in Series B.
The round was led by TYH Ventures, a US-based venture firm anchored by a family office, and joined by a new backer, HSBC Ventures. The latter is Silent Eight's latest customer to become an investor.
Several investors from previous rounds also joined the raise, namely OTB Ventures, Wavemaker Partners, Aglaia, Standard Chartered Bank's SC Ventures, and veteran angel investor Koh Boon Hwee, who is also a general partner of Altara Ventures.
The investment will be used to build and scale its team while supporting its mission to eliminate financial crime.
Company: Silent Eight Pte. Ltd.
Raised: $40.0M
Round: Series B
Funding Month:
Lead Investors: TYH Ventures
Additional Investors: HSBC Ventures, OTB Ventures, Wavemaker Partners, Aglaia, Standard Chartered Bank's SC Ventures, and Koh Boon Hwee
Company Website: https://www.silenteight.com/
Software Category: AI platform for financial crime
About the Company: Founded in Singapore in 2013, Silent Eight has developed an AI platform for a financial crime that investigates suspicious transactions, beneficiaries, and customers in real-time. Silent Eight is a technology company leveraging AI to create compliance platforms for the world’s leading financial institutions. SILENT Eight’s mission is to empower our clients in their fight to eliminate financial crime. With the recent funding, it expects to hire over 150 data scientists, developers, and engineers this year. Founded in Singapore and with global hubs in New York, London, and Warsaw, we are deployed in over 150 markets.
Source: https://www.silenteight.com/2022/03/10/silent-eight-raises-40m-in-series-b-round/