QED leads $10m series-A for Arachnys

The company will invest in research and development, in addition to preparing for the launch of its product.

Arachnys has recently made appointments to its sales and marketing teams, and appointed four financial crime prevention specialists to its advisory board.

Previous funding
Arachnys previously received £4.2m of venture capital backing, according to Unquote sister publication Mergermarket, with investors including Cambridge Capital Group, Cambridge Angels and Martlet.

Company
Founded in 2010, London-headquartered Arachnys develops software that automates compliance due diligence processes, including anti-money laundering and "know-your-customer".

People
QED Investors – Amias Gerety (partner).
Arachnys – David Buxton (CEO); Greg Meekings (chairperson).

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• Topics
• Early-stage
• UK / Ireland
• Technology
• United Kingdom
• Venture