Serendipity Capital Invests in Mirato
Tel Aviv, Israel – Mirato, provider of the first AI-enabled third-party risk management (TPRM) intelligence platform, today announced the completion of a funding round.
Mirato’s latest funding round saw Serendipity Capital join existing investors Grove Ventures, Joule Ventures, The Group Ventures and American Express. This round follows a seed funding round completed in January 2021. The proceeds of the raise will be used for product refinement, scaling the organization, and driving customer acquisition. Mirato provides TPRM software targeting financial services companies. Mirato’s TPRM intelligence platform extracts data from questionnaires, evidence documents and external data sources (financial, cyber, ESG, AML, etc.) and turns it into actionable insights about an organization’s risk exposure to services, fourth parties, people, locations, and other areas. Leveraging AI and natural language processing (NLP), Mirato enables banks to upgrade existing TPRM programs, saving time and money (>60% of assessment cost) while increasing their ability to mitigate risk in an ever-evolving risk and regulatory landscape.
Aki Eldar, Co-founder and CEO of Mirato, said, “Mirato has made great strides in educating the market on the importance of digitizing the TPRM programs within their organizations. We are pleased to have the continued support of our investors as we ramp up our efforts to increase our customer base and deploy our platform more widely. We are pleased to welcome Serendipity to Mirato, as we recognize the immense experience, know-how, and spirit they bring to the table.”
Sean Harpur, Partner of Serendipity Capital, said, “Mirato is led by a highly talented and experienced team and has developed a solution that solves a key pain point for financial institutions. This is an issue that financial institutions are looking to solve with increased urgency and has given rise to a sizeable and fast-growing addressable market. We believe Mirato, as a first mover, has the opportunity to capture meaningful market share.”
Mirato was founded in 2019 and is backed and built by leading entrepreneurs who bring vast experience from the worlds of technology and data analysis. Mirato is headquartered in Israel, with an office in the United States. Mirato is focused on creating automated smart processes, that flush out risk, and save subject matter experts a considerable amount of work and allow them to make the most of their time and intellect