Just under $850m was raised in the Top 10 global RegTech deals of Q1 2019, equal to 64.6% of the total capital raised in the subsector last quarter.
Companies based in the United States dominated the top 10 deals with eight companies listed, followed by one company in France and another in the United Kingdom.
Palo Alto-based Rubrik, provides GDPR-complaint cloud data management solutions that protect, manage, and monitor data across all environments. The company raised a $261m Series E round in January 2019, which was the largest RegTech deal in Q1 2019. Funding came from Bain Capital Ventures and previous investors Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP, valuing the company at $3.3bn.
Shift Technology, a Paris-based fraud detection solution provider to the insurance industry, landed $60m in a Series C round led by Bessemer Venture Partners, bringing the company’s total investment to $100m. Shift now has more than 200 employees and serves clients across Europe, Asia and the Americas. The company is headquartered in Paris and has additional offices in Boston, Tokyo, Toronto, London, Hong Kong, Madrid, Singapore and Zurich.
Featurespace provides behavioural analytics technology for risk management and fraud detection in financial services. The Cambridge, United Kingdom-based solution provider raised $33m (£25m) led by MissionOG and Insight Venture Partners, which was the largest RegTech deal in the United Kingdom last quarter. The funding will be used to support Featurespace’s international expansion and further development of its software capabilities.
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