Sedric AI, a financial institution compliance-focused AI platform, secured a $18.5 million Series A fundraising round. New fundraising spearheaded by Foundation Capital and Amex Ventures raises the company’s total capital to $22 million.
StageOne Ventures, The Garage, Gefen Capital, Skywell Capital, Secret Chord, and K20 Fund invest in Sedric.
The money will be utilized to develop Sedric’s global go-to-market teams and enlarge its AI lab in Tel Aviv. Thirty individuals work for the company, which Nir Laznik and Eyal Peleg started in 2020.
The requirement for creative solutions to support compliance officers in carrying out the policies, procedures, and standards of their firm is being driven by the current regulatory climate as well as the expanding breadth of financial services.
Compliance officers can identify deviations from your set compliance regulations and guidelines by using Sedric’s comprehensive view of their customer interactions across different channels.
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Companies can swiftly implement corrective measures thanks to Sedric’s technology without having to bear the expense and effort of manual assessment.
“For financial institutions, compliance and growth can be seen as two competing priorities,” said Nir Laznik, co-founder and CEO of Sedric. “With our compliance LLM, we turn risk into a growth opportunity. Enterprises now have an opportunity to implement a proven, bank-ready solution that is successfully operational and already widely adopted across the financial services industry.”
The company’s large language model (LLM), which is dedicated to compliance, powers its technology and gives businesses an enterprise-ready platform for monitoring and controlling compliance issues.
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About Sedric
Sedric AI has set a trusted benchmark for financial services end-to-end compliance management. The first compliance-dedicated LLM, Sedric helps the world’s best compliance teams turn rules into processes, automate execution and reporting, and grow company with compliance.
