Sayari Labs Raises $40M to Boost Trade Transparency

Sayari Labs, which works in financial intelligence and supply chain risk solutions, announced that it has raised $40 million in a Series C funding round, according to a press release on Tuesday (Sept. 14).

The new funding will be used to boost the company’s expansion, including its mission in increasing transparency for global financial and trade.

Sayari said that there are currently about 200 enterprise customers using its services to improve transparency, reduce risk and fight crime. Those customers include government agencies, financial institutions and multinational corporations, according to the release.

One of the company’s products is the Sayari Graph, a tool used to parse the complexities of global corporate ownerships and commercial relationships, through Know Your Customer (KYC) and Anti Money Laundering (AML) solutions, along with other regulations for sanctions, beneficial ownership and anti-bribery and corruption.

The solution gives a “complete picture” of customers, vendors, counterparties, their key personnel, hierarchies, subsidiaries and more. Provenance is maintained for official documentation from their countries of origin.

“The last two years have thrown into sharp relief the complexities and vulnerabilities of global supply chains and financial networks,” said CEO Farley Mesko, per the release. “With greater complexity comes greater risk: money laundering, forced labor, and everything in between. Better understanding and management of these risks starts with better data, and we’re thrilled to partner with Centana to take our solution to mission-driven organizations worldwide.”

Centana Growth Partners led the round, and other investors included existing ones like Arsenal Growth, MissionOG, Lavrock Ventures, TFX Capital and SAP NS2.

Ben Cukier, partner at Centana Growth, said Sayari “has built an elegant and necessary solution to address the challenges associated with understanding customers and counterparties for regulatory requirements such as Know Your Customer or counterparty research.”

Last year, Sayari Labs reported an extension of a funding round for $2.5 million, building on $9 million already secured. That round saw In-Q-Tel, MissionOG and TFX Capital contributing, along with Arsenal Growth, Lavrock Ventures and SAP’s NS2 Ventures.

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That round saw funding going toward developing its tech to help businesses connect with open source data.