Silent Eight, a pioneer in the field of AI enhanced economic sanctions enforcement and financial crime prevention, today announces the closing of a $40m Series B funding round. The round was led by TYH Ventures and welcomed HSBC Ventures, the firm’s latest customer to also become an investor.
OTB Ventures, Wavemaker Partners, SC Ventures (Standard Chartered Bank’s venture unit), Aglaia, and Koh Boon Hwee, Chairman and General Partner of Altara Ventures, continued their investment from previous funding rounds. Kolya Miller from TYH Ventures is joining the board.
Everyday millions of financial crime professionals work diligently to stop illicit funds from entering and moving through the global financial system. Silent Eight’s AI platform for financial crime investigates every suspicious transaction, beneficiary, and customer in real-time. Perfectly researched and explained every time at unparalleled speed and scale.
Silent Eight has raised $55m to date. Today’s round brings the firm’s total valuation to four times its previous value in October 2020. In that time revenue has grown sixfold and headcount has tripled.
Today’s funding will predominantly be used to expand technology functions in support of Silent Eight’s rapidly expanding customer base. The firm expects to hire over 150 data scientists, developers and engineers in 2022.
Silent Eight is a technology company leveraging AI to create compliance platforms for the world’s leading financial institutions. Their mission is to empower our clients in their fight to eliminate financial crime. Founded in Singapore and with global hubs in New York, London, and Warsaw, they are deployed in over 150 markets. For more information, visit: www.silenteight.com
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Silent Eight Raises $40m In Series B Round
Silent Eight, a pioneer in the field of AI enhanced economic sanctions enforcement and financial crime prevention, today announces the closing of a $40m Series B funding round. The round was led by TYH Ventures and welcomed HSBC Ventures, the firm’s latest customer to also become an investor.
OTB Ventures, Wavemaker Partners, SC Ventures (Standard Chartered Bank’s venture unit), Aglaia, and Koh Boon Hwee, Chairman and General Partner of Altara Ventures, continued their investment from previous funding rounds. Kolya Miller from TYH Ventures is joining the board.
Everyday millions of financial crime professionals work diligently to stop illicit funds from entering and moving through the global financial system. Silent Eight’s AI platform for financial crime investigates every suspicious transaction, beneficiary, and customer in real-time. Perfectly researched and explained every time at unparalleled speed and scale.
Silent Eight has raised $55m to date. Today’s round brings the firm’s total valuation to four times its previous value in October 2020. In that time revenue has grown sixfold and headcount has tripled.
Today’s funding will predominantly be used to expand technology functions in support of Silent Eight’s rapidly expanding customer base. The firm expects to hire over 150 data scientists, developers and engineers in 2022.
Silent Eight is a technology company leveraging AI to create compliance platforms for the world’s leading financial institutions. Their mission is to empower our clients in their fight to eliminate financial crime. Founded in Singapore and with global hubs in New York, London, and Warsaw, they are deployed in over 150 markets. For more information, visit: www.silenteight.com
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This entry was posted on March 10, 2022 at 8:35 am and is filed under Commentary with tags Silent Eight. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.