In a world where financial fraud is becoming increasingly sophisticated, Sardine, an AI risk platform, is stepping up to the challenge. Recently, Sardine announced a significant milestone: securing $70 million in a Series C funding round led by Activant Capital. This funding round also saw participation from notable investors such as Andreessen Horowitz, Nyca Partners, Google Ventures, and others, bringing Sardine's total funding to an impressive $145 million.
Sardine's journey is a testament to the power of innovation. Developed by veterans from Coinbase, Revolut, and PayPal, the platform leverages cutting-edge technology to tackle fraud in real-time. By utilizing device intelligence, behavior biometrics, and machine learning, Sardine not only streamlines compliance but also unifies data across risk teams, making it a formidable tool in the fight against financial crime.
The platform's suite of intelligent agents is designed to automate the most time-consuming aspects of risk operations. From KYC onboarding to sanctions screening and merchant risk management, Sardine's AI agents are reducing manual workloads and cutting costs for over 300 enterprises, including industry giants like FIS, Ascensus, and GoDaddy.
Soups Ranjan, CEO of Sardine, highlights the growing challenges faced by risk teams. With alert volumes surging by 800% and compliance hiring unable to keep pace, the need for automation has never been more critical. Sardine's AI-driven approach not only helps teams move faster but also reduces false positives, allowing analysts to focus on stopping real threats.
This latest investment will enable Sardine to scale its AI infrastructure further, enhancing the efficiency of risk teams and equipping them to combat the scale of modern financial crime. As financial institutions continue to grapple with the complexities of fraud, Sardine's innovative solutions offer a beacon of hope, promising a future where risk teams are better prepared and more efficient.
Key Takeaways:
- Sardine has raised $70 million in a Series C funding round, bringing its total funding to $145 million.
- The platform uses AI to automate risk operations, reducing manual workloads and cutting costs.
- Sardine's AI agents help risk teams move faster and focus on real threats by reducing false positives.
- The investment will be used to scale AI infrastructure, enhancing the efficiency of risk teams.
- Over 300 enterprises, including FIS and GoDaddy, are already benefiting from Sardine's solutions.