RegTech startup VoxSmart closes $7m Series A round

VoxSmart, which helps firms achieve regulatory compliance by recording all their mobile communications, has closed a $7m Series A round.

The round was led by UK Technology investor Deepbridge Capital and a number of senior capital markets executives. VoxSmart said it will use the investment to extend it’s global infrastructure in preparation for global regulatory deadlines which begin to come into force in early 2018.

Ian Warwick, managing partner at Deepbridge Capital, said: “VoxSmart’s technology and experienced management team will play a major role in helping financial institutions meet and exceed global regulatory requirements. Specialising in providing exciting investment opportunities to private investors, it is important that we work with innovative companies that have the potential for global scalability.”

Based in London, the company claims to be one of the world’s leading mobile phone communication companies. It provides proprietary, patented and award-winning mobile technology to capture, record, transcribe and store, mobile calls, instant messages and voicemail. It enable companies to record voice calls, SMS, voice mail and now instant messaging on any mobile network, any mobile platform, anywhere in the world.

Former chief compliance officer and VoxSmart Advisory Board Member Stephen Morse added: “Regulatory compliance has to be a real-time function in today’s fast paced markets and powerful surveillance and discovery tools such as VoxSmart’s are helping transition the entire voice recording function from analog to digital. The benefits of which will hugely expedite investigations, mitigate regulatory fines and boost productivity and profitability for the bank”.

Deepbridge Capital focuses on early-stage investment in emerging technology companies. It operates across four principle divisions: disruptive technology, life sciences, renewable energy and sustainable technologies.

Copyright © 2017 RegTech Analyst

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