With funding from Homebrew, Omidyar Network, TTV Capital, and Designer Fund, the company continues its mission to fight financial crime
SAN FRANCISCO, CA, October 22, 2018 — Hummingbird, the modern platform for anti-money laundering (AML), announced that it has raised $3 million in a funding round led by Homebrew, and investments from Omidyar Network, TTV Capital, and Designer Fund. Hummingbird brings agility, intelligence, and breadth to the AML practice for banks, payments companies, and other financial institutions. Many of these institutions struggle to keep up with increasing complexity in AML, and investigators are swamped with cumbersome workflows, strict timelines, and scattered data. Hummingbird uses machine learning and provides deep investigative capabilities, enabling investigators to focus on fighting financial crime.
“US institutions are spending an estimated $25 billion per year on AML, but they’re battling dated technology stacks and manually coordinating detailed workflows,” said Joe Robinson, co-CEO and co-founder of Hummingbird. “Hummingbird’s technology and algorithms can assist AML experts with complex investigations and help these institutions stay on top of new money laundering methods.”
Read the full press release here.