a year ago

Lexverify Secures £900K Seed Funding for AI-Powered Risk Management Assistant

  • Lexverify, a Birmingham, UK-based provider of an AI-powered risk management assistant, raised £900K in Seed funding

  • The round was led by Midven, with participation from the Midlands Engine Investment Fund, Raspberry Ventures, The LegalTech Fund, and angel investors

  • The funds will be used for hiring to support the company's expansion plans, following pilots in financial services and pharmaceutical sectors

  • Lexverify's AI-powered assistant helps prevent legal, compliance, and cyber risks on electronic communications in real time, using natural language processing (NLP) to make risk prevention as easy as spell checking.

      • ProblemTechnology

      "Organizations face significant risks from legal, compliance, and cyber threats, especially through electronic communications. Current risk prevention methods are often reactive, manual, and ineffective, leaving businesses vulnerable to costly fines, lawsuits, and reputational damage."

      Solution

      "Lexverify provides an AI-powered risk management assistant that proactively scans electronic communications in real-time to detect potential risks, such as competition law violations, financial sanctions breaches, and GDPR non-compliance. It uses natural language processing (NLP) to make risk prevention as simple as spell checking, minimizing exposure and offering continuous training to employees."

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