Sayari Labs, the US-based developer of a financial risk analysis platform, increased a series B round featuring enterprise software producer SAP from $9m to $11.5m yesterday.
In-Q-Tel, MissionOG and TFX Capital provided the additional $2.5m, which came after a January 2020 first tranche backed by SAP vehicle NS2 Ventures, Arsenal Growth and Lavrock Ventures.
Founded in 2015, Sayari has built a software tool that visually maps corporate and commercial relationships in order to help increase transparency and reduce financial risk.
The company had previously raised $3.2m in a September 2018 series A round led by Lavrock Ventures. It said at the time of the January close the series B funding will support the growth of its Sayari Graph product.
Farley Mesko, co-founder and chief executive of Sayari, said: “Access to trustworthy data from the least transparent parts of the world is mission critical for global financial institutions and corporations, as well as US and partner government agencies.
“With this new funding, we are thrilled to further develop our unique technology and help these organisations leverage open source data against global risks and security threats.”
