Silent Eight is a Singapore-based technology company that leverages AI to build compliance platforms enabling financial institutions to investigate suspicious transactions, beneficiaries, and customers in real time. Led by CEO and founder Martin Markiewicz, the platform is deployed in over 150 markets and the company maintains global hubs in New York, London, and Warsaw. It raised a $40M Series B funding round to support its growth. The company intends to use the proceeds to expand technology functions and support its customer base. Silent Eight expects to hire over 150 data scientists, developers and engineers in 2022 to accelerate product and engineering work. Kolya Miller from lead investor TYH Ventures is joining the board as part of the round. Silent Eight’s platform leverages AI to learn how to conduct investigations from past alerts, recognizing anomalous behavior by drawing on databases and watchlists and producing a decision with a summary of supporting evidence. The system can scan structured, semi-structured, and unstructured sources (news articles, screening engines, case management systems) and is capable of processing petabytes of data to identify potential relationships. The platform is in limited release with select customers, including Standard Chartered, which has used it since December 2018 across over 70 markets in the U.S., U.K., Singapore, and Hong Kong. Silent Eight says it plans to publicly launch the platform by the end of 2020 and has introduced an on-demand cloud-based AI solution for continuous real-time name, entity, and transaction screening. The company says it will charge customers only for fraud it helps solve rather than charging a license fee. The startup recently closed financing activity and has been expanding headcount and customer acquisition efforts to enter new geographies. Silent Eight provides an artificial intelligence-based solution that helps financial institutions combat money laundering and terrorism financing, including improving name-screening processes. Its system is designed to learn how people make decisions and can explain the reasoning behind every decision in plain English, allowing customers to adopt best practices and discard bad behaviors. The company says its transparent design suits high-stakes use cases where there is no room for mistakes. Silent Eight is Singapore-headquartered and has offices in Singapore, Warsaw, London, and New York. It raised USD 6.2 million in a Series A led by Wavemaker Partners and plans to use the capital to hire new employees and double headcount by the end of Q1 2020 to support a pipeline of large banks and insurance customers. Paul Santos of Wavemaker Partners joined the company's board following the round.

Total raised

$61M

Funding rounds

3

Latest round

Series B

Latest activity

Mar 2022