Jan 07, 2014
Edison Ventures Announces Investment in Compliance Science
Fuels Growth of Premier Personal Trading Compliance Management Provider
LAWRENCEVILLE, NJ, January 7, 2014 – Edison Ventures announced an $8.25M Series A investment in Compliance Science, Inc. (CSI). This investment is the initial outside capital for the company. Edison purchased a minority ownership interest. The financing will accelerate the Company’s technology, product development and expand sales and marketing.
Compliance Science is a New York City-based global leader providing web-based regulatory compliance technology and services for the financial services community. Clients include leading RIA's, broker/dealers, private equity firms, hedge funds, banks, pension plans and public companies. All rely on CSI to help protect them from the reputational risk and revenue loss from non-compliant activities.
Chris Sugden, Edison Ventures Managing Partner led the investment and commented, “We are excited to partner with such a talented team. Led by Mitch Kraskin, CEO, CSI is recognized as the industry experts in personal trading monitoring and surveillance.” David Nevas, Principal who led Edison’s diligence noted, “Customers consider CSI’s domain expertise and customer service to be best in class.” “CSI provides much needed leverage for customers’ compliance group and compelling ROI”, explained Mike Cichowski, Edison Principal. Chris Sugden will join the Compliance Science board along with Glenn Stevens, Gain CEO and member of Edison’s Director Network.
“Compliance Science is excited to have Edison Ventures as its new partner. We selected the Edison team because of their track record as one of the leading financial technology investors in the country. The firm’strack record of success and value beyond capital including their network and domain expertise will be critical to our next phase of growth. Edison's investment will accelerate our growth initiatives and further solidify Compliance Science as the market leader.” stated Mitch Kraskin, CEO.
Compliance Science is Edison’s 20th investment in New York. As part of Edison’s Financial Technlogyindustry segment which includes investments in trading technology, wealth management, specialty finance, financial tech-enabled services and consumer finance. Notable current and previous Edison Fintech investments include Gain Capital (Nasdaq: GCAP), Liberty Tax (Nasdaq: TAX), TraderTools, EdgeTrade, Scivantage, Billtrust, FolioDynamix, Princeton Financial Systems, Business Financial Services, Neat, Redvision and Best Software.
About Compliance Science
Compliance Science is a New York City based global leader in providing web-based regulatory compliance technology and services to the Financial Services community. Clients include leading RIA's, B/D's, PE Firms, Hedge Funds, Banks, Pension Plans, Public Companies - all of whom rely on CSI to help protect them from the specter of reputational damage and revenue loss from non-compliant activities.http://www.complysci.com.
