September 12, 2022
Sigma Ratings Announces Series A Led by Mosaik Partners to Scale Intelligent Relationship Risk Management
PRNewswire | NEW YORK ― Sigma Ratings ("Sigma"), the AI-driven global risk screening and monitoring platform that powers compliant commercial relationships, today announced a Series A investment round led by Mosaik Partners, a San Francisco-based venture capital firm focused on financial technology. Also participating in the round are existing investors FinTech Collective and Contour Ventures, as well as new investor AngelList Ventures who join existing shareholders Fitch Ratings and Barclays PLC.
Sigma takes a unique approach to risk management, connecting publicly sourced data and proprietary risk intelligence into a single, configurable platform that helps firms quickly, comprehensively and cost-effectively evaluate risk and onboard, retain and expand relationships with greater assurance. Having experienced 250% revenue growth and a doubling of its client base during the pandemic, Sigma will use the funding to expand its commercial functions and invest in additional product and engineering talent to deepen its innovative risk and compliance software platform.
Sigma's expansion comes at a critical time, as firms seek to simultaneously address increasing regulatory, geopolitical and reputational-related risks, and digitally transform outdated and expensive legacy approaches to risk management and regulatory compliance.
John Katzenmeyer, Partner at Mosaik Partners, who brings nearly 25 years of financial technology advisory experience, will join Sigma's Board of Directors in connection with the investment. Katzenmeyer joins Alison Clew, who was appointed to Sigma's Board last year as an independent director. Clew also serves on the Board of Rabobank NA and previously served as the Global Head of AML at Citigroup and global leader of AML and Sanctions consulting at Deloitte.
Stuart Jones, Jr., founder and CEO of Sigma, said: "Firms are looking for faster, smarter ways to perpetually evaluate customer and third-party risk. Doing so helps these firms manage potential downside risk, confidently expand relationships and automate and improve upon existing processes. Our platform answers that need through enriched global data, intelligent and configurable workflows and innovative technical applications that simply outperform legacy approaches."
Stuart continued: "We're excited to partner with Mosaik given their deep experience in financial services and tech investing and continue on our mission to not only help firms ensure regulatory compliance, but to also help them unlock an even deeper understanding of who they work with."
John Katzenmeyer, Partner, Mosaik Partners, said: "A holistic view of the risk of your commercial relationships not only ensures regulatory compliance, but it is also just good business. We are excited to support Sigma's bold vision to automate global KYC in the broadest sense. We've been impressed with the strength of the leadership team, client roster and clear potential to help organizations accelerate their digital transformation and ultimately, make smarter, data-driven decisions."
Since its founding at MIT, Sigma's cloud-based data platform has emerged as the definitive choice for point-in-time risk screening and perpetual client monitoring. Underpinned by thousands of fully integrated and hosted data sources and proprietary resolution, risk extraction and scoring algorithms, the platform can identify and return direct and network-based entity risk at sub-second speeds. Sigma's solutions are used by financial institutions, professional services firms, fintechs and global corporations seeking to consolidate operations into a singular risk intelligence platform and more efficiently manage the entire client lifecycle.
Sigma's platform capabilities include: i) a fully integrated, dynamic data feed of contextualized AML, sanctions, financial crime, geographic and credit-related risk intelligence; ii) a configurable, end-to-end risk screening and investigations platform; and iii) an always-on entity resolution and monitoring view for scalable risk-awareness across global customers, third parties and their associates.
For further information about Sigma, please visit www.sigmaratings.com and connect with us on LinkedIn and Twitter @sigmaratings.
About Mosaik Partners
Founded by industry operating executives in 2011, Mosaik Partners invests in early-stage B2B fintech companies attacking pain points in financial services. Mosaik actively leverages its operating experience to provide promising entrepreneurs with the resources and know-how they need to achieve success. The firm has made investments in the payments, software, capital markets technology, regulatory technology and AI / big data sectors. Based in San Francisco, the team has a collective 80+ years of operating and investing experience in the financial technology sector.
More information can be found at www.mosaikpartners.com.
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