Unit21 Closes $34 Million Series B

​Unit21, the emerging leader in no-code risk, fraud and compliance software, announced that it has closed a $34 million Series B round, which was led by Tiger Global Management with participation from ICONIQ Capital and existing investors Gradient Ventures, A.Capital, and South Park Commons. 

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Unit21 is a data infrastructure company enabling non-technical users to write complex business rules. The company is currently helping organizations meet the ever-changing challenges of detecting suspicious activity, specifically money laundering and fraud. Customers use Unit21's powerful no-code statistical modeling platform that enable their non-technical fraud and AML operations teams to create, model, and deploy their own data operations rules. 

"Data is the most important weapon in the fight against fraud and money laundering. Unit21's no-code statistical modeling toolset solutions, which enable non-technical users to own their data operations and make us an essential partner in this ongoing battle," said Trisha Kothari, Co-founder and CEO of Unit21. "This funding will support our mission to democratize data and make it more accessible to operations teams. We look to expand our engineering, research & development, and go-to-market teams. It will also help bolster strategic expansion into new industries."

John Curtius, Partner, Tiger Global, said: "We are excited to support Unit21 as it transforms an organization's ability to analyze data to its advantage for risk management and compliance. We have confidence in the company's strategic vision and strong leadership team, and we appreciate how Trisha and Clarence are developing new use cases for their core technology."