Sedric AI, a compliance-dedicated AI platform for financial institutions, recently announced a nearly $19 million Series A funding round, bringing its total raised to date to $22 million after launching in 2020.
The latest funding round was led by Foundation Capital with participation from Amex Ventures and existing investors, including StageOne Ventures and The Garage. Sedric plans to use the investment to expand its operations in Tel Aviv, as well as its go-to-market teams.
Sedric’s platform is powered by what the company says is the financial services industry’s first compliance-dedicated large language model (LLM).
“For financial institutions, compliance and growth can be seen as two competing priorities,” said Nir Laznik, co-founder and CEO of Sedric. “With our compliance LLM, we turn risk into a growth opportunity. Enterprises now have an opportunity to implement a proven, bank-ready solution that is successfully operational and already widely adopted across the financial services industry.”
