Augmetec, the legal tech startup founded and led by Kritin Sundaram, today announces that it has raised over £2m in seed funding to turbo charge its growth. 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 a retired Senior Partner at Kirkland & Ellis, the family office of NetDocuments' original founding team, and the Head of Fraud at Rajah & Tann Singapore.
Historically, ethics and compliance investigations are slow, expensive, and often 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 £297bn 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 cost corporations significant time and money, but also place a great strain on valuable resources.
This is where Augmetec comes in. The company’s 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. With ISO27001 and SOC II security certifications, relevant integrations, and technology partner relationships with a host of enterprise platforms including the likes of Relativity, iManage and NetDocuments, LEIAA provides a secure, defensible, single source of truth.
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.
