Oslo-based startup ComplAI has collected $1.7 million (18MNOK) in a funding round led by RunwayFBU with the participation from Vestland Invest, DNV Venture, Kevin Bespolka, Göran Lindö, Gunnar Evensen and Magnus Valmot. The startups offers online audit rooms for businesses to prove their compliance with regulatory requirements. ComplAi plans to use the funds to enhance its cloud-based compliance tool, develop an online marketplace, and increase its marketing efforts to expand its reach into the cosmetics industry.
The startup is looking to expand its customer base and potentially offer its services to businesses. The online marketplace could potentially provide a platform for businesses to access ComplAi’s compliance services and connect with other businesses in the industry. By deepening its cloud-based tool, ComplAi may be able to offer more advanced compliance solutions to its customers, making it a more attractive option for businesses looking to streamline their compliance processes.
ComplAI CEO Jørgen Kadal said, “We help clients reduce the cost of interacting with their suppliers, external auditors and customers by moving them onto a common platform where they can engage with them in compliance and reporting processes across standards and reporting regimes.”
RunwayFBU managing partner Tor Bækkelund added, “The company solves real problems by digitalising highly manual business processes and within a short timeframe they have launched and onboarded global brands. We invest in teams with proven track records. Their deep industry knowledge combined with a large growing market the investment fits nicely to our investment strategy focusing on industrial software solutions with a global market potential.”
