Aug 21, 2021

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team Regology, a San Francisco-based regulatory compliance startup, has raised $8 million in a Series A funding round to continue helping businesses comply with local regulations. The funding round was led by ACME Capital and counted with participation from Gagarin Capital Partners. The startup had run a seed funding round back in 2018 with participation from […] / share Published on August 21, 2021 The funding round was led by ACME Capital and counted with participation from Gagarin Capital Partners. The startup had run a seed funding round back in 2018 with participation from Y Combinator, VentureSouq, GMO, and Gagarin Capital Partners, raising an undisclosed amount. Hany Nada, co-founder and partner at ACME Capital, referred to the startup’s potential by stating: “Legal and compliance has traditionally been hyper localized, making disparate information and fragmented systems inevitable, even for the most sophisticated companies. The past year called to light how quickly regulation changes. Regology helps global enterprises keep pace with that change, providing peace of mind to business leaders and operators.” Regology provides businesses with an AI-enabled platform that actively tracks regulatory updates, allowing companies to identify emerging risks and fines by dynamically monitoring changes to business-relevant laws. By streamlining resources spent on regulatory compliance efforts, businesses using Regology’s solution can focus their efforts and resources elsewhere. According to a market analysis performed by Regology, Fortune Global 500 companies spent more than $400 billion in regulatory compliance. Despite this, these companies were fined over $20 billion, a reflection of the difficulties the current model has on tracking regulatory changes. Mukund Goenka, co-founder and CEO of Regology, referred to this by stating: “With regulations constantly changing at local, federal, and global levels, it’s impossible for companies to stay current with human intelligence alone. Whether it is allowing banks to share financial transaction data or ensuring COVID requirements are met, Regology is helping companies deliver on the promise to be up to date and legal, without headaches and human error.” With a unified database of more than 94 million requirements across 25 countries and 8 languages, the regulatory compliance startup will use the funding to expand its team, allowing it to continue harvesting the power of AI and machine learning to automate the compliance process. Tags