CENTRL Announces New Financing to Help Accelerate Growth and Product Innovation

MOUNTAIN VIEW, CA - Oct 15, 2024

CENTRL, an AI powered Third Party Risk & Diligence Platform for the global financial industry, announced a new round of funding from its existing investors PSG and SGE, and welcomed Lavelle Capital as a new investor to support rapid product innovation and sales growth.

CENTRL is an AI powered diligence platform connecting banks, asset owners, asset managers and service providers. CENTRL’s mission is to help transform the highly critical but inefficient risk and compliance process of conducting ongoing oversight and diligence of third parties. CENTRL’s solutions are used for multiple use cases such as operational and investment due diligence of asset managers, risk and compliance oversight of custodians and sub-custodians, and monitoring of vendors and service providers. CENTRL takes a network approach to the diligence process and offers AI powered solutions for both Issuers and Respondents of risk & compliance DDQs.

“We believe that a common platform for LPs and GPs - or more generally for Issuers and Respondents - is the right approach to bring efficiency to the financial industry and help reduce risk across the entire ecosystem” says Sanjeev Dheer, Founder and CEO of CENTRL. “We also believe that AI is a transformative technology for the diligence process and our CentrlGPT platform uses domain-specific AI models to help deliver efficiency and intelligence to users. We are seeing strong momentum in the market and believe that this new investment will help to accelerate sales growth and product innovation.”

“We are thrilled to support CENTRL in its journey to become a leading diligence platform in the financial industry,” says Mark Hastings, Co-Founder and CEO of PSG. “We believe that CENTRL has done an excellent job of leveraging AI to help solve a critical industry problem and is seeing strong momentum in the market. We are excited to help Sanjeev and his team build on this momentum and continue to support product innovation.”

“We are thrilled to support CENTRL, along side PSG & SGE, as they continue to revolutionize the financial industry’s approach to risk and diligence,” said Sanjeev Rao, Managing Partner at Lavelle Capital. “I have known Sanjeev Dheer for many years and have always admired his vision and leadership. It’s an honor to finally be working together. We believe that CENTRL has built an exceptional platform that is solving critical challenges for leading financial institutions globally. At Lavelle, we are committed to backing visionary companies like CENTRL that are poised to drive transformative change. We look forward to supporting their continued momentum and future success.”

About CENTRL

CENTRL is a leading AI powered third party risk and diligence platform for the financial industry. Its solutions deliver efficiency improvements and enhanced risk oversight to diligence teams across banking, investment management and other verticals. The CENTRL platform leverages industry-specific AI models to provide diligence teams for both Issuers and Respondents with advanced workflow automation, analytics and AI powered intelligence capabilities. The CENTRL platform is used by some of the largest banks, investors and asset managers across the Americas, Europe and APAC.

Link to Published Press Release