NEW YORK--(BUSINESS WIRE)--Paragon Data Labs (PDL), a RegTech firm providing enterprise B2B SaaS compliance solutions for financial services firms, announces an additional $1.75 million in funding. This comes as the firm is actively experiencing unprecedented growth into Q4 2021.
All initial pre-seed investors are participating in this new round, as well as an additional 15 new investors. This latest funding round highlights the demand PDL is seeing from industry innovators, underscoring the need for this type of solution.
“We believe that employees want to be transparent with their compliance teams, but existing solutions don't make it easy,” said Jefferson Mitchell, Co-Founder and CEO of PDL. “This round empowers us with more capital, expertise, and support from key industry veterans to help execute our mission to make compliance easy for the employee and employer."
PDL’s revenue has grown more than 300% since Q2 2021, allowing the firm to expand its workforce to 17 employees globally, serving RIA’s, hedge funds, family offices, wealth managers, alternative asset managers, and private equity firms, among other industries.
Using cutting-edge technology, PDL provides a scalable cloud-based platform to automate and simplify code of ethics monitoring for financial services firms. Investors are increasingly seeing the high level of opportunity for disruption in the compliance technology space.
“When introduced to PDL, my immediate reaction was that there is finally a smart and user-friendly solution to the age-old problem of employee compliance monitoring,” said Kristen Dickey, PDL investor. "PDL is proving to us that its vision and growth potential is something we see great value in being a part of moving forward.”
About Paragon Data Labs
Paragon Data Labs is a RegTech firm that provides cloud-based compliance software catering to the financial services industry. PDL is on a mission to provide transparent compliance solutions, focused on leveraging the power of data to ease the compliance burden on employers and employees across the industry. At PDL, we not only make compliance simple and transparent, we make it human.
To learn more about Paragon Data Labs and how their software and solutions are applicable to your compliance team, click here to book a demo or email sales@paragondatalabs.com.
