SteelEye, a London, UK-based compliance technology, and data analytics firm, announced the completion of $21 million in Series B funding to accelerate its global expansion with an emphasis on North America.
The round was led by Ten Coves Capital, alongside existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office, bringing SteelEye’s total capital raised to $43 million.
The funding round comes on the back of record growth in 2021, when SteelEye’s revenues grew by 88 percent, and will support the firm as it targets further rapid yet scalable international expansion.
“Facing regulatory clampdowns, huge data volumes, and inflation impacts on budgets, financial firms need ways to reduce costs through efficiencies and automation. This is what we deliver through our distinctive, data-centric compliance platform.”-Matt Smith, CEO of SteelEye, said.
Company: STEELEYE LIMITED
Raised: $21.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Ten Coves Capital
Additional Investors: Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office
Company Website: https://www.steel-eye.com/
Software Category: RegTech platform
About the Company: SteelEye, founded in 2017, is a regulatory compliance technology and data analytics firm that brings together a wealth of data under one lens to allow you to meet your regulatory needs with ease. Steeleye offers a RegTech platform as a service that enables banks, brokers, asset managers, and other regulated financial firms to simplify their compliance processes across various EU, UK, and US market regulations. SteelEye's mission is to make it simple for financial firms to comply with regulatory rules while also gaining insights from their data. SteelEye's clients include some of the world's largest financial services firms, including Fidelity International and Schroders. SteelEye is based in London and has offices in New York, Bengaluru (India), and Braga (Portugal).
Source: https://www.businesswire.com/news/home/20220908005075/en/RegTech-Scale-Up-SteelEye-Raises-21M-in-Round-Led-by-Ten-Coves-Capital-to-Accelerate-Growth-and-Meet-Demand-for-Holistic-Compliance-Solutions