The provider of automated regulatory reporting technology, Cappitech raised $4 million in Seris A funding by 83Noth and the co-founders of Markit. With this, Rony Gruska, co-founder of the Markit, will be joining the board of Cappitech.
The Israel-based company is planning to use the fund for product development, expand regulators reach and provide business intelligence and big data analytics using AI. Sales and Marketing will also be promoted with a special focus on Europe.
Ronen Kertis, CEO, Cappitech, says: “This significant investment, combined with the experience and insight which our board brings to the business, will enable us to accelerate our plans and take the business to the next level.
“It will enable us to extend our global reach and add even more functionality to our platform, quickly meeting the growing demands of the market and bringing further value to our customers.”