Droit, a U.S.-based regulatory technology (RegTech) company, recently announced that it had raised $23 million in Series B funding. The round was led by venture capital firm Insight Partners, with participation from existing investors, including Canaan Partners and Global Brain.
Droit is a RegTech company that provides a platform to help financial institutions and other organizations comply with regulatory requirements. The company’s platform is designed to automate the process of regulatory compliance, making it easier and more efficient for companies to stay up-to-date with the latest regulations.
The new funding will be used to expand Droit’s platform and services, as well as to hire new employees. The company plans to use the money to develop new products, such as its automated compliance platform, which helps companies identify and address potential compliance issues.
In addition to the new funding, Droit also announced that it had appointed former Goldman Sachs executive and current Insight Partners managing director, David Soskin, to its board of directors. Soskin will help guide the company’s strategic direction and provide advice on how to best leverage its technology to help customers comply with regulations.
The funding round is a major milestone for Droit, which was founded in 2015. The company has grown rapidly over the past few years, and its platform is now used by more than 500 customers worldwide. With the new funding, Droit is well-positioned to continue its growth and become a leader in the RegTech space.
Overall, Droit’s recent Series B funding round is a testament to the company’s success and potential. With the new funding and board appointment, Droit is well-positioned to continue its growth and become a leader in the RegTech space.
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