Castellum.AI Secures $8.5M Series A to Boost AI-Powered AML Compliance
Castellum.AI, a financial crime compliance platform, has closed an oversubscribed $8.5 million Series A round led by Curql, with participation from BTech Consortium, Framework Venture Partners, and others. The platform leverages AI agents to reduce AML/KYC false positives by 94% and cut compliance review times by 83%.
Castellum.AI, a financial crime compliance platform specializing in AI-driven anti-money laundering (AML) and know-your-customer (KYC) solutions, has successfully closed an oversubscribed $8.5 million Series A funding round. The round was led by Curql, a collective backed by over 130 credit unions, including Navy Federal, with additional participation from BTech Consortium, Framework Venture Partners, and existing investors like Spider Capital, Remarkable Ventures, and Cameron Ventures.
Key Highlights:
- 94% Reduction in False Positives: Castellum.AI’s platform dramatically cuts down on AML/KYC false positives, streamlining compliance for financial institutions, credit unions, fintechs, and crypto exchanges.
- 83% Faster Compliance Reviews: The platform significantly reduces review times, enabling faster and more efficient regulatory adherence.
- AI Agents Pass CAMS Exam: The company’s AI agents, trained by ex-regulators, passed the CAMS (Certified Anti-Money Laundering Specialist) practice exam on their first attempt.
Investor Insights:
- Nick Evans, CEO of Curql: "Financial institutions face the dual threat of criminals using AI and legacy systems generating unnecessary compliance alerts. Castellum.AI’s fast, precise, and explainable AI agents are the next-generation solution banks and credit unions need."
- Peter Piatetsky, CEO of Castellum.AI: "Compliance teams are drowning in false positives while financial crime slips through. Our explainable AI eliminates the tradeoff between accuracy and risk mitigation, with detailed audit trails for every alert."
- Mike Sekits, BTech Consortium: "The true value of AI in compliance depends on data quality. Castellum.AI uniquely combines in-house data, screening, and AI agents."
- Ajay Gopal, Framework Venture Partners: "Castellum.AI’s ability to layer AI agents on top of existing tools minimizes switching costs, making adoption seamless for clients."
Platform Capabilities:
- Real-Time Risk Exposure Notifications: Integrated system provides instant alerts.
- Modular Implementation: Flexible deployment aligns with regulatory standards.
- AI-Powered Summaries: Reduces global adverse media review times.
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