Ripjar, a UK-based data intelligence company, has raised around EUR 31 million in Series B funding from Long Ridge Equity Partners.
With the latest investment, the startup has raised more than EUR 51 million, with Long Ridge joining existing investors Winton Capital and Accenture. The company was founded in 2013 by five former employees of the UK’s Government Communications Headquarters (GCHQ), and its technology helps institutions and government agencies address criminal threats, including money laundering, fraud, and terrorism.
This funding will accelerate new product development and facilitate the expansion of Ripjar’s data intelligence platform, Labyrinth. Ripjar will also expand its sales and marketing presence in Asia, North America, and Europe, and grow its employee base to support current and future clients.
Utilising proprietary artificial intelligence technology, Labyrinth uncovers new risks, and reduces false positives by over 90%. Labyrinth enables human analysts to make better informed decisions with speed and accuracy.
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