Sedric AI has announced that it has managed to raise $18.5 million in investments as part of a Series A funding round.

The mentioned company intends to use the funds received to implement efforts to continue developing and promoting its compliance platform for financial institutions. This platform is based on artificial intelligence.

It is known that the company will spend part of the funds received on the development of its machine intelligence laboratory, which is located in Tel Aviv. Also, part of the investment will be aimed at expanding global go-to-market teams. The relevant information is contained in the company’s press release, which was published this week.

Nir Laznik, co-founder and chief executive officer of Sedric AI, says that for financial institutions, compliance with legal requirements and growth can be seen as two competing priorities. In this context, it was noted that the company’s large language model turns risks into opportunities for growth. Nir Laznik also stated that now enterprises can implement a proven banking solution that is successfully functioning and is already widely used in the financial services industry.

The Sedric AI platform helps financial institutions meet regulatory expectations at a time when more and more attention is being paid to generative artificial intelligence. The platform also helps compliance professionals gain a holistic view of customer touchpoints across multiple channels, flag deviations from their policies and guidelines, and quickly take corrective action. The relevant information is contained in the company’s press release.

As we have reported earlier, Ilya Sutskever Raises $1 Billion for His New AI Company.