Automated regulatory intelligence platform CUBE has acquired The Hub, an AI-powered solution for capturing and monitoring unstructured data across the regulatory internet.
CUBE will integrate The Hub’s technology with its RegPlatform to offer additional capabilities for customers to automate their regulatory compliance processes, reducing risk and compliance operating costs.
CUBE’s RegPlatform streamlines regulatory change management and compliance processes to enable compliance teams to significantly cut existing costs and move skilled individuals up the value chain whilst also reducing risk.
Its platform leverages AI to automatically capture and map changing regulations for clients This allows compliance teams to better manage their time and become more efficient with workflows.
Speaking on the deal, CUBE founder and CEO, Ben Richmond, commented: “The acquisition of The Hub marks the first in what is expected to be a number of purposeful acquisitions for CUBE as a consolidator of regulatory compliance focused firms and technologies in what is a highly fragmented RegTech market. The Hub’s team and solutions are best in class and represent many synergies with CUBE’s own capabilities.
“The current macro environment creates uncertainties for newer, less proven market entrants so it is ever more important that customers can be confident in selecting the right partner to support their long term regulatory compliance strategy.”
Founded in 2015, The Hub offers an AI-driven web data capture and monitoring solution to support compliance and regulatory requirements. Its AI utilises high volumes of unstructured data from across the web with competencies that include topic-based classifications, relevance calculations, article versioning, indexing and data analysis tools.
The size of the deal was not disclosed.
Last year, CUBE received an investment from strategic growth investment firm Bregal Milestone. This was the first institutional capital investment raised by CUBE. The amount of capital it raised was not revealed.
It raised the funds to bolster its geographical expansion and extend its technology edge.
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