A two-year-old regulatory compliance startup has raised $6 million in a Seed round to develop AI for risk management.
The round for Haast was led by Airtree, with support from US-based defy.vc, and existing backers Aura Ventures and Black Sheep Capital.
The Sydney-based startup previously a $1.2 million pre-Seed in 2023 to monitor greenwashing and check compliance with regulations for heavily scrutinised industries such as finance.
The new cash is to increase the headcount as well as expand into the US and tech development to focus on areas such as contract review and anti-money laundering.
The platform’s users include Telstra, Future Super, Zurich ANZ, and UK asset management firm Aviva and its founders compare it to the digital twin version of a lawyer or compliance officer, speeding up the approval process for compliance reviews alongside ensuring it complies with internal policies and guidelines, as well as assessing a company’s risk tolerance and regulatory obligations.
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