NEW YORK, NY, Droit, a technology firm at the forefront of computational law and regulation, today announced it has closed a $23 million Series B investment in its latest funding round.
The round was led by Pivot Investment Partners and UBS, the leading global wealth manager, through its venture and innovation unit UBS Next. Goldman Sachs, an existing investor, is also participating in the financing round.
Droit is a technology firm at the forefront of computational law and regulation within finance and other domains. Founded in 2012, Droit counts many of the largest financial institutions as its clients. Its award-winning, patented platform Adept provides an implementation of regulatory rules reflecting industry consensus. The Adept platform processes tens of millions of inquiries a day, deciding in real-time which interactions are legally permissible across the globe. Adept is used by institutions to evaluate, with sub-millisecond latency, the full regulatory implications of any given interaction within their transactional infrastructure.
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