Castellum.AI Raises $4M to Scale Enterprise Compliance Solutions

Note from the CEO, Peter M Piatetsky

I’m excited to announce a $4M funding round for Castellum.AI led by Spider Capital, with participation from NewFund, Remarkable Ventures, Cameron Ventures and an incredible roster of angels that are founders, executives and operators. This includes Kamran Ansari, Dave Berman, Will Glindmeyer, Marc Grens, Mikhail Gurevich, Jonté Harrell, Dan Scheinman, David Stasie and Philippe Suchet. The round was oversubscribed by $1.5M and closed in June.

Castellum.AI was borne out of my pain in trying, and failing to find accurate financial crime data (sanctions, PEPs, adverse media and more) while working at OFAC and other offices at the Treasury Department, and then running U.S. compliance for a major Asian bank. The more I searched for an effective solution, the more I saw that this pain was shared across the entire industry, and that no category leader existed. With Castellum.AI, we set out to become that category leader, and build a global platform that makes finding risk data easy, effective and intuitive.

Since launching our BETA in March 2022, we’ve had over 1,250% user growth, won Fortune 500 and government customers, supported clients in acing regulatory and audit exams, and provided crucial data to over 100 media organizations and NGOs to facilitate an informed and accurate discussion on financial crime risk.

How did we build Castellum.AI into the most accurate, reliable and fastest global risk data platform, and reduce client false positives by 80%? We automated every single step of the risk data collection, ingestion, cleaning, standardization and enrichment process.

How accurate and reliable? We regularly inform governments when their data has errors and help them fix it. If you’re worried about being fined by the government, there’s nothing better than using a vendor that regularly corrects governments.

While our competitors focused on customizing their products to each large client, Castellum.AI figured out how to effectively help small and medium sized businesses comply, and to allow them to customize the product themselves, leading to enormous gains in compliance efficiency and implementation speed.

With funding from Spider Capital & team we are now scaling our proven technology and bringing it to the world's largest enterprises, while continuing to grow our SMB base and support NGOs, journalists and researchers.

If you haven’t tried Castellum.AI, don’t take my word for it, search for free here: https://www.castellum.ai and find out why people are switching from legacy systems to the most accurate, reliable and fastest screening service.

With gratitude to my Co-Founder, team, and all those that made this possible.
Peter Piatetsky
CEO & Co-Founder, Castellum.AI