New York City’s innovative tech startup, Castellum.AI, has secured a seed investment of $4M. This recent funding round, led by prominent investor Spider Capital and backed by others including NewFund, Remarkable Ventures, Cameron Ventures, and various angel investors, witnessed an oversubscription by a notable $1.5M.

The Vision Behind Castellum.AI

The venture prides itself on creating a state-of-the-art global risk data platform, known for its unparalleled accuracy, reliability, and speed. It aids KYC and AML compliance teams in significantly minimizing false positives by a whopping 80% through its automated risk data collection and refinement processes.

Peter Piatetsky, the CEO and co-founder of Castellum.AI, shared his motivations, “We started Castellum.AI after I spent years trying, and failing, to find accurate financial crime, sanctions and corruption data while working at the U.S. Department of Treasury and in banking. I saw this pain was shared across the entire industry. We set out to become the category leader by building a global platform that makes finding risk data easy, effective and intuitive.”

Castellum.AI’s Rapid Ascent Since Beta Launch

After its Beta launch in March 2022, the platform has experienced an impressive over 1,250% user growth. Their esteemed clientele now encompasses leading names from Fortune 500, top-tier banks, insurance firms, and even global governments. More than 100 news agencies and NGOs have leveraged their platform for informed discussions on financial crime risk.

Castellum.AI’s Unique Offerings

Operating as a B2B SAAS compliance platform, Castellum.AI’s patent-pending technology assists businesses in identifying potential financial crime risks. With a database spanning across sanctions, PEPs, adverse media, and other risk data segments, businesses can effortlessly screen their clientele in compliance with AML and terrorist financing regulations. This is further endorsed by industry leaders like Seth Sattler from Digital Mint, who stated, “Deciding to go with Castellum.AI to assist our sanctions program was an easy choice. Their lists are updated every 5 minutes, so I never have to worry.”

Strategic Partnerships and Collaborations

Further solidifying its place in the industry, Castellum.AI collaborates with key players in the compliance field. David Lomiashvili, CEO and Co-Founder of identity verification platform Identomat, mentioned, “We are really excited to partner with Castellum.AI, which enables us to enhance our AML/KYC compliance solutions with best-in-class compliance data.”

Comprehensive Solutions and Future Roadmap

The solutions from Castellum.AI grant users the ability to execute screenings across global financial crime risk data updated in real-time, catering to diverse needs including KYC onboarding, transaction reviews, and more. With the fresh capital, Castellum.AI is poised to amplify its tech offerings and further engage with a broader audience.

  Castellum.AI, David Lomiashvili, Identomat, New York City, Peter Piatetsky, USA