Enterprise onboarding company Detected has bagged £2.5m in funding for further growth in the US.
The London-based company provides automated know your business (KYB) services to verify a business is who they say they are to combat money laundering, tax crimes and phishing.
The funding came from Thomson Reuters Ventures, Love Ventures and unnamed angels, bringing its total raised to £6m.
“We are very excited about the Detected investment as it complements our KYB strategy. Their technology is bringing much-needed automation to an underserved portion of the digital identity market,” said Tamara Steffens, managing director of Thomson Reuters Ventures.
“We look forward to working with Liam and team, and introducing Detected to the Thomson Reuters customer base.”
Based in Shoreditch and founded in 2020, the company’s white-label software automates the collection of required KYB data on behalf of enterprise payment companies.
Liam Chennells, co-founder and CEO, Detected said: “We’ve put ourselves in a very strong position to deliver on our ambitious 2023 objectives.”
Detected was co-founded by Chennells and Peter Youell. Before Detected, Chennells was the managing director for EasyPost and Youell held the role of global evp technology at Astound Commerce.
The company’s last raise came in March 2022, when it secured £1.5m.