Regulatory Genome Development, a University of Cambridge spinout, has completed a seed funding round of $6m (£4.6m) led by Evolution Equity Partners.
RegGenome uses machine learning to sequence regulatory content and turn it into a structured, machine-readable format that can be accessed via a data repository. The aim is to give regulatory authorities and businesses better access to regulatory information to support compliance and risk management processes.
“We are thrilled to be working with a group of investors that share our view that the world is rapidly entering into a period of regulatory uncertainty, requiring interoperable content to power the next generation of regulatory applications for the digital economy,” said management practice Professor Robert Wardrop, executive chairman of RegGenome.
“RegGenome is a superb example of how the University of Cambridge’s transformational intellectual property can be applied for global impact. RegGenome is primed to deliver a quantum leap in how regulatory content is shared and harnessed,” said Dr Marcio Siqueira, head of physical sciences at Cambridge Enterprises.
“Cambridge Enterprise has been an integral part of RegGenome from the outset, from enabling access to the required technology to investing in its funding. We are looking forward to seeing RegGenome’s vision come to life.”
Richard Seewald, founder and managing partner at Evolution Equity Partners, said: “We are excited to be partnering with Regulatory Genome and the tremendous team it has in place.
“Deepening regulatory intelligence and digitizing compliance and risk management functions utilizing machine learning and interoperability with cybersecurity, fintech and ESG presents a tremendous opportunity for the company. I look forward to working with Robert Wardrop and the RegGenome team.”
Seewald will be joining the RegGenome board of directors as part of the funding deal. Other participants in the round include AlbionVC, Cambridge Enterprise and Mastercard.