SAN FRANCISCO, CA, Hummingbird RegTech, a provider of risk and compliance technology, today announced the company has raised $30 million in Series B funding.
The raise brings the total venture backed funding total to $41.8M, and comes on the heels of Hummingbirds $8.2M Series A in 2020. Since 2020, the modern financial system has exploded with rapid innovation taking place as consumer and enterprise behaviors shift with the pandemic. This new capital will allow Hummingbird to uniquely meet the regulatory needs of the modern financial world by providing a unique CRM designed for risk and compliance professionals.
Battery Ventures led the round with participation from Flourish, Homebrew, FinVC, and William Hockey, co-founder of Plaid. The additional capital will be deployed to expand the team, expand product capabilities, and bring the platform to new markets around the world.
Hummingbird is designed to enhance anti-money laundering and counter-terrorist financing investigations. It reduces cumbersome paperwork, provides insightful analytics, and enables collaboration for compliance professionals and law enforcement agents. Hummingbird is on a mission to turn the tables against criminals who pollute the financial system.
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