SignalX raises $ 750,000 from US venture capital firm

14 Sep 2020, 16:20 by Special Correspondent

Artificial Intelligence-powered governance risk management and compliance start-up SignalX, based out of Hyderabad, has raised $750,000 from US VC firm 3Lines Venture Capital.

With this funding, “we will be strengthening our core platform and opening up our SaaS application further to enable compliance and risk professionals to leverage AI in running comprehensive analysis and risk assessments,” CEO and founder Govind Balachandran said.

According to him, SignalX platform is being used by professionals in performing valuations, mergers and acquisitions, insolvency and forensics to serve their customers in India and the US. “Our due diligence AI is purpose-built to help risk professionals across industries execute a broad range of analyses starting from ‘know your business (KYB)’ to meeting enhanced due diligence compliance requirements,” he said.

Rajiv Roy, Venture Partner at 3Lines, will be joining the Board of Directors at SignalX. “Our investment focus on customer funded growth and AI-powered innovation strongly aligns with the business operations strategy of SignalX”, Mr.Roy said.