Compliance Science has received its first ever outside capital raise in the form of an $8.25 million Series A financing from Edison Ventures. The company provides Web-based regulatory compliance technology and services for the financial services community, serving clients including RIA's, broker/dealers, private equity firms, hedge funds, banks, pension plans and public companies. These clients rely on Compliance Science to help protect them from the reputational risk and revenue loss from non-compliant activities.
The investment will accelerate the company's technology and product development, and will help expand sales and marketing. Compliance Science, Edison Ventures' 20th investment in New York, will add Edison's Chris Sugden to its Board as part of the investment.