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Xapien raises £8m for AI due diligence platform

Xapien
Image credit: Xapien

AI-powered due diligence startup Xapien has raised £8m in a YFM Equity Partners-led Series A funding round.

Founded in 2018, Xapien has developed a platform for businesses to conduct due diligence checks on prospective partners.

Due diligence can be a lengthy process, however, the startup claims its AI tools can complete comprehensive background checks in minutes.

Xapien said its users include Magic Circle law firms, non-profits and Ivy League and Russell Group universities. The company also has a partnership with Dow Jones Risk and Compliance.

“We founded Xapien to bring transparency to business relationships so that organisations of all sizes can truly know who they are working with,” said CEO Chris Green.

“We are transforming due diligence from a time-consuming, manual process into an efficient, precise, and comprehensive solution.”

Green said the new funding would accelerate the development of the startup’s natural language processing capabilities.

The new investment brings the total amount raised by Xapien to £14m. Its last funding round came in March 2023. Since then, the company has grown to a team of 45.

“Xapien’s innovative technology is gaining impressive commercial traction in an exciting market, and it has already proven its value in existing sectors,” said YFM partner James Savage.

“With our support, Xapien is poised to expand into new areas, enhancing its product, growing its team, and extending its geographical reach.”

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