Castellum.AI raises $4M in Spider Capital-led Round to Scale Compliance Screening for Enterprises

Global financial crime risk screening platform Castellum.AI’s proven technology helps institutions reduce false positives in the KYC/AML process by 80%.

NEW YORK--(BUSINESS WIRE)--New York City-based Castellum.AI is excited to announce a $4M seed investment led by Spider Capital with participation from NewFund, Remarkable Ventures, Cameron Ventures and new and existing angel investors. The investment round was oversubscribed by $1.5M.

Castellum.AI has built the most accurate, reliable and fastest global risk data platform, enabling KYC and AML compliance teams to reduce false positives by 80%. This is backed by a fully automated risk data collection, cleaning, standardization and enrichment process.

“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,” says Castellum.AI CEO and co-founder Peter Piatetsky.

Since launching its Beta in March 2022, Castellum.AI has secured over 1,250% user growth, signed Fortune 500 customers including leading banks and insurance companies as well as global government customers, and enabled clients to ace regulatory and audit exams. Additionally, over 100 news organizations and NGOs have received crucial data to facilitate informed discussions on financial crime risk.

For customers like crypto exchange Digital Mint’s Chief Compliance Officer Seth Sattler, “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.”

Castellum.AI additionally partners with companies across the compliance industry. “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. By joining forces, we can provide our customers with even more robust protection against financial crime while streamlining compliance processes,” said David Lomiashvili, CEO and Co-Founder of identity verification platform Identomat.

Solutions for Global Compliance Teams

Castellum.AI’s solutions enable customers to conduct efficient and effective screening across global financial crime risk data updated every five minutes to meet KYC onboarding and rescreening, transaction screening, crypto sanctions screening, supply chain compliance and other use cases. Users can conveniently access these services through Castellum.AI’s online platform, API, or a bulk data subscription.

Looking Forward

This funding will enable Castellum.AI to scale its proven software technology to meet the needs of the world’s largest enterprises through investments in product and engineering and additional resources to connect with new users.

Try For Free

Search global risk data for free at Castellum.AI to discover why top compliance teams have transitioned from legacy systems.

About Castellum.AI

Castellum.AI is a B2B SAAS compliance platform that helps businesses identify financial crime risk with its patent-pending data enrichment technology that reduces false positives by 80%. With a global database covering sanctions, PEPs, adverse media and other risk data categories, users can screen customers and easily comply with AML and terrorist financing regulations. Castellum.AI provides screening through its online platform, API, and data subscription services.