Banks and fintechs have long deployed a suite of tech to flag suspicious transactions and ensure they’re not catering to bad actors. Now, as crypto seeps into mainstream finance, these same institutions need software to monitor crypto transactions. A new startup called CipherOwl is helping to do just that, and on Thursday announced that it had raised $15 million to help businesses with crypto compliance.
The venture firms General Catalyst and Flourish Ventures led the seed round, with participation from investors like Coinbase Ventures and Enlight Capital, among others. Leo Liang, cofounder and CEO of CipherOwl, declined to disclose at what valuation his company raised its round.
