Total amount raised
$92 Millions
Latest funding date
Location
Unit21 has successfully raised significant funding over multiple rounds, with its latest being a Series C round closed on June 29, 2022. The company offers a customizable no-code platform designed for risk and compliance operations, focusing on fraud prevention and Anti-Money Laundering (AML) compliance.
With 22 investors backing its innovative solutions, including Tiger Global Management and Hyphen Capital, Unit21 continues to make strides in transforming fraud and AML operations. Keep reading to explore the intricacies of Unit21's fundraising journey and the investors supporting this cutting-edge platform.
What Is Unit21?
Unit21, founded in December 2018 by Clarence Chio and Trisha Kothari, is based in San Francisco, California. The company specializes in providing a customizable no-code platform for risk and compliance operations, focusing on fraud prevention and Anti-Money Laundering (AML) compliance.
Unit21's platform offers a range of solutions, including transaction monitoring, real-time monitoring, case management, and fraud detection. These tools are designed to help businesses protect against sophisticated risks across multiple industries.
With a team of 101-250 employees, Unit21 continues to innovate in the field of risk and compliance, leveraging state-of-the-art security practices to defend against potential threats.
How Much Funding Has Unit21 Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2018
- Lead Investors: Gradient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series A
- Amount Raised: $13M
- Date: October 19, 2020
- Lead Investors: A.Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product and distribution-focused management team, increase sales and marketing efforts, and launch in new industries.
- Series B
- Amount Raised: $34M
- Date: July 7, 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations to meet growing demand.
- Series C
- Amount Raised: $45M
- Date: June 29, 2022
- Lead Investors: South Park Commons, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand into new markets.
Total Amount Raised: $92M
Current Valuation: Not publicly disclosed
Key Investors
- South Park Commons
- Details: South Park Commons is a community of technologists, entrepreneurs, and investors. They focus on early-stage investments in technology startups.
- Investment Focus Areas: Technology startups.
- Notable Investments: Not explicitly mentioned.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. They focus on technology, telecommunications, media, retail, and consumer sectors.
- Investment Focus Areas: Technology, telecommunications, media, retail, consumer sectors.
- Notable Investments: Not explicitly mentioned.
- A.Capital Ventures
- Details: A.Capital Ventures is a venture capital firm that invests in early-stage technology companies. They focus on technology startups.
- Investment Focus Areas: Technology startups.
- Notable Investments: Not explicitly mentioned.
- Gradient Ventures
- Details: Gradient Ventures is Google's AI-focused venture fund. They focus on early-stage investments in artificial intelligence startups.
- Investment Focus Areas: Artificial intelligence startups.
- Notable Investments: Not explicitly mentioned.
- Core VC
- Details: Core VC is a venture capital firm. They focus on early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not explicitly mentioned.
What's Next for Unit21?
Unit21 stands at the cusp of significant growth opportunities, driven by the increasing demand for robust risk and compliance solutions. With a 400% growth in 2020 and a market facing $8.14 billion in AML fines, the potential for expansion into new industries and geographies is immense. The company plans to enhance its product and distribution-focused management team, increase sales and marketing efforts, and leverage its customizable tools to cater to diverse use cases.
Future fundraising opportunities seem promising, given the substantial market demand and the company's impressive growth trajectory. Additional funding rounds could help Unit21 further develop its platform and scale operations to meet the growing needs of its clients. However, the company may face challenges such as rapidly changing fraud vectors and competition from other players in the fraud prevention space. Ensuring the platform remains highly customizable and flexible will be crucial for maintaining its competitive edge.
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