Hyderabad-based AI-powered governance risk management and compliance startup SignalX on Monday said it has raised $750,000 in investment in a funding round led by 3Lines Venture Capital, a US-based early-stage VC.
According to a statement by the startup, Rajiv Roy, Venture Partner at 3Lines, will join the SignalX Board of Directors.
Founded by Govind Balachandran in 2018, SignalX offers an AI-powered SaaS platform for corporate risk and due diligence for a comprehensive financial, legal, regulatory, and reputational risk analysis on any given target company. It claims to offer its product with a fast turnaround and high-quality research capabilities.
According to him, SignalX platform is used by professionals in performing valuations, mergers and acquisitions, insolvency, and forensics to serve their customers in India and the US. Commenting on the investment, Govind said, “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 with ease, at high-speed, and with high-quality.”
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