Castellum.AI Raises $4 Million in Seed Round

Castellum.AI Raises $4 Million in Seed Round

Castellum.AI, a New York-based global financial crime risk screening platform, raised $4 million in seed funding.

The round was led by Spider Capital, with participation from NewFund, Remarkable Ventures, Cameron Ventures, and angel investors.

Spider Capital is a venture capital firm specializing in seed-stage investments. The firm targets investments in technology-driven enterprise cloud software companies. The firm focuses on investments in the United States, Canada, and Israel. The firm seeks to lead or co-lead seed round investments and also provides follow-on funding by co-investing with other funds. Founded in 2015 and is headquartered in San Francisco, California.

The funding will be used to scale its software technology and expand resources.

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. Castellum.AI provides a global risk data platform for know-your-customer (KYC) and anti-money laundering (AML) compliance, with the goal of reducing false positives by 80% through automated risk data collection, cleaning, standardization, and enrichment. 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.

Funding Details

Company: Castellum.AI Corporation

Raised: $4.0M

Round: Seed Round

Funding Month: October 2023

Lead Investors: Spider Capital

Additional Investors: NewFund, Remarkable Ventures, Cameron Ventures

Company Website: https://www.castellum.ai/

Software Category: Financial Crime Risk Data Platform for KYC and AML Compliance