London-based Augmetec, a LegalTech startup, today announced that it has raised over €2.4 million Seed funding to fuel its growth, expand its team, and continue development on its flagship platform LEIAA.
The round is led by UK-based early-stage investors Fuel Ventures, with participation from Swiss fund 14Peaks Capital, and three industry angel investors, including the Head of Fraud at Rajah & Tann Singapore.
Kritin Sundaram, Co-founder and CEO at Augmetec, said: “Augmetec has been built on decades of experience in conducting hundreds of high-profile investigations into alleged improper conduct. Our fantastic team has deep industry expertise to create specific solutions to solve precise, real-world problems. This is the backbone of LEIAA’s offering, which has been directly experienced and loved by customers worldwide.
“Our vision is to ease the overwhelming burden placed on the shoulders of investigative teams handling numerous, often complex, and multi-faceted investigations, which frequently involve multiple stakeholders across jurisdictions. With the growing number of global investigations, we believe we have built Augmetec at the perfect time to meet this ever-evolving need given the wider international regulatory landscape.”
Founded in 2022 by Kritin Sundaram and Jonny Jackson, Augmetec is a LegalTech company innovating the future of internal and regulatory investigations. They bring over 100 years of combined industry expertise to solve a “decades-long problem of inefficiency in ethics, compliance, and regulatory investigations.”
According to Augmetec, ethics and compliance investigations are slow, expensive, and inconsistent. With increased global enforcement action for regulatory non-compliance, particularly for regulations with extraterritorial reach, such as the UK Bribery Act and the US Foreign Corrupt Practices Act (reflected in penalties levied of over €358 billion since the 2007-2008 financial crisis), combined with the introduction of new whistleblower regulations, and a growing corporate ‘speak up’ culture, the number of international and regulatory investigations is set to rise exponentially.
This increased scrutiny and extra requirements not only potentially cost corporations significant time and money, but also place a great strain on valuable resources.
This is where Augmetec wants to come in. Their flagship platform ‘LEIAA: Your Investigations Command Centre’ is built by investigators, for investigators, and empowers organisations to standardise processes and investigative workflows, maintain trust, and increase transparency and auditability.
LEIAA’s user-friendly interface provides the necessary tools to manage and conduct entire end-to-end investigations, from inception to reporting, data analysis to witness interviews, and everything in between. It enables multinational corporations, top law firms, global financial services organisations, NGOs, and governments, to eliminate inefficiencies by leveraging these AI and automation-focused tools.
This means they can make data-driven decisions, optimise cost, alleviate the strain on valuable resources, and increase precision.
Oliver Hammond, Partner at Fuel Ventures, said: “We’re so excited to be working with Augmetec. We’ve seen internal investigations within corporations increase significantly as regulation grows and levels of improper conduct increase. As such, corporations are being required to investigate thoroughly and fairly.
“Progress in AI and automation means we think the time is now to automate and maximise the efficiency to a significant degree in that process, allowing corporations to come to conclusions quicker and more accurately. We think Augmetec is going to revolutionise this industry.”
Emanuele Larocca, Principal at 14Peaks Capital, said: “LEIAA by Augmetec is uniquely positioned to truly automate regulatory investigation workflows. The team’s intimate understanding of investigative processes has been distilled into a fit-for-purpose software solution, leveraging a unified data architecture to consolidate siloed tasks into a cohesive, transparent, and secure platform.
“We are convinced that both enterprise and law firms worldwide will resonate with this proposition, finding in Augmetec the ideal partner to navigate to the ever-evolving global regulatory landscape.”
Augmetec will use the fresh injection of capital to continue growing its client base, to fund its product development and to level up its offering on a global scale. The company has structured plans to expand its team by hiring key personnel in engineering, compliance, operations, and sales.
Augmetec also aims to strengthen its international enterprise partnerships and invest in developing new features and enhancements for the LEIAA platform.
Read the orginal article: https://www.eu-startups.com/2025/02/legaltech-startup-augmetec-raises-over-e2-4-million-for-its-flagship-platform-leiaa/
