The Investment Will Accelerate Sigma’s Ambitious Growth Strategy and Further Strengthen Its Position as the Category Leader of Scalable Relationship Risk Insight and Monitoring.
Sigma Ratings, the AI-driven global risk screening and monitoring platform that powers compliant commercial relationships, 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.
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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to simultaneously address increasing regulatory, geopolitical and reputational-related risks, and digitally transform outdated and expensive legacy approaches to risk management and regulatory compliance.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.”
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Stuart continued:Â “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.”
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