Kobalt Labs has raised $11 million in Series A funding to enhance its AI-driven platform for automating risk and compliance processes for financial institutions.

Target Information

Kobalt Labs, an innovative platform focused on automating risk and compliance processes for financial institutions through artificial intelligence, has successfully raised $11 million (approximately 15.7 billion KRW) in a Series A funding round. The investment was led by Ali Rowghani of First Harmonic, with participation from Alloy Labs, Y Combinator, and others. Kobalt Labs offers solutions for third-party risk management (TPRM), internal audits, and marketing compliance, thus enhancing the risk management workflows of its clients.

The platform is already serving over 20 prominent clients, including fintech companies such as Chime and Bilt, as well as asset-holding financial institutions like Emprise Bank, Celtic Bank, American National Bank, and Meriwest Credit Union. Together, these clients manage billions of dollars in assets, showcasing the widespread relevance and capability of the platform in addressing the complexities of modern financial compliance.

Industry Overview in Target’s Country

The financial services industry in the United States has become increasingly intricate, characterized by a multitude of regulations and compliance challenges that institutions face daily. Compliance with federal and state regulations is paramount, with organizations contending with