RegTech platform Trullion bags $15m

Trullion, an AI-powered platform that extracts and streamlines data sourcing, has raised $15m in its Series A funding round.

The investment was co-led by Aleph and Third Point Ventures, with commitments also coming from Greycroft and several angel investors.

With the capital, the company plans to hire more engineering, sales and marketing staff in the US and Israel. It also plans to bolster its product development efforts.

Trullion million is to drive transparency in accounting and financial ecosystems. Its AI-powered technology extracts and streamlines data from source documents to various teams, whilst automating workflows so accountants can work in real-time with auditors.

Through the enhanced collaboration teams can have expanded visibility of essential documents, quick transfer of data and a better streamlined and efficient workflow.

Its technology can help automate ASC 842 compliance, streamline IFRS 16 workflows and accelerate GASB 87 compliance.

Trullion co-founder and CEO Isaac Heller said, ?Accounting errors due to incorrect data entry, omissions, and compliance oversights can cost organizations millions of dollars and harm their brand reputations, yet it still all too commonplace for manual, laborious practices to pervade.

?This funding is a key milestone for Trullion as we continue to set the standards for the accounting and finance industry.p>

Copyright ? 2022 FinTech Global

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