Company: Clausematch
Founder: Evgeny Likhoded
Website: https://www.clausematch.com/
About Clausematch
Clausematch is a global regulatory technology (RegTech/ FinTech) SaaS provider that helps organizations to operate safely and bring compliant products to the market. Our platform sits at the core of compliance management and empowers companies to collaborate, create, manage and review different types of compliance documents, in real time, with a complete audit trail and live insights, leading to more robust governance.
With Clausematch, companies can break down organizational silos by establishing a single source of truth for their compliance content and seamlessly communicating updates to their workforce. Our use of advanced metadata, AI-powered mapping and tagging, intelligent suggestions and workflows, allows companies to better manage documents, down to a granular, paragraph level. They can swiftly adapt to changes in the market, strategy and regulations, to stay on top of compliance and build trust with the board and regulators.
Financial institutions of different sizes and profiles, along with other regulated businesses (the business currently serves over 50 customers), rely on Clausematch to manage policies, procedures, controls, and meet obligations. While growing sustainably achieving the highest levels of governance to avoid fines and reputational damage, simultaneously cutting compliance costs by up to 30%.
The idea behind Clausematch was cultivated over the founders’ frustrations while observing the inefficiencies companies go through when working on high-risk or high-value documents.
The company dates back to 2012 when after over a decade of working as a lawyer with derivatives trading agreements for global banks and energy companies, Evgeny Likhoded, now Clausematch founder and CEO, was frustrated with managing contract negotiations and regulatory changes remediation via emails, Word documents, excel spreadsheets, collecting and consolidating feedback from hundreds of versions, and spending long nights on administration rather than value-adding work.
This is why he built Clausematch, in simpler words, a real-time document collaboration platform for legal, risk and compliance professionals. Top-tier banks, insurance companies, and innovative FinTechs globally use Clausematch 1) to manage internal compliance documents, 2) to incorporate regulatory obligations in a more automated way, and 3) to communicate changes to requirements to employees across the organization more effectively.
Evgeny, or Jay, Likhoded built a fantastic team of 70+ people full of talent, knowledge, ambition and drive, bringing numerous subject-matter experts together.
The Clausematch team prides itself not only on having smart and talented people but also on diversity. Our employees come from all over the globe, have various backgrounds.
Clausematch has made big strides recently. At the beginning of 2023, the company has released its digital knowledge graph in open source. The development is the result of the work the company has been carrying out with financial services regulators since late 2019.
Also, Clausematch has just opened another office in Europe – in Lisbon, it is a tech office for Clausematch. The company has been growing its product team focusing on the development of AI-powered features such as AI assistant (to be announced – based on its own models and ChatGPT).
This is also the result of the successful funding round led by Sony Innovation Fund, Lytical Ventures, Flashpoint VC.
