London-based legal tech startup Augmetec has secured £2 million in a seed funding round to support its regulatory investigations platform. The investment was led by Fuel Ventures, with participation from 14Peaks Capital.
- Founded in 2022 by Kritin Sundaram, Jonathan Jackso, and Jennifer Ratz, Augmetec developed LEIAA, a regulatory investigations platform that transforms how organizations handle internal and regulatory investigations. By leveraging AI and automation, LEIAA streamlines processes, reduces inefficiencies, and enhances accuracy.
- The platform features AI-powered document fraud detection, automated report generation, and advanced data analysis, while integrating with tools like Relativity and iManage.
- LEIAA ensures compliance with security standards such as ISO27001 and GDPR, automating key tasks like document review, report creation, and team collaboration, all within a secure cloud infrastructure to protect sensitive data.
"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," claims Kritin Sundaram, co-founder and CEO at Augmetec.
Details of the deal
- The seed round was led by Fuel Ventures, a London-based venture capital firm that invests in early-stage tech startups with ticket sizes typically between £250,000 and £3 million.
- Swiss VC 14Peaks Capital, which invests in fintech and B2B SaaS companies across Europe and the US, along with 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, also participated in the round.
"We are proud to join the round led by Fuel Ventures, and eager to support Augmetec in bringing LEIAA to legal investigations worldwide, "14Peaks Capital's team, commented on LinkedIn.
- Augmetec will use the funds to hire new talent, build out additional features for its LEIAA platform, and expand its client base. This investment will support the company's growth as it enhances its platform and extends its reach in the legal tech space.
