Abstract, an artificial intelligence (AI) company focused on regulatory intelligence, has raised $4.8m in seed funding, co-led by Bonfire Ventures and Communitas Capital.
This latest investment brings the company’s total funding to over $9m.
It will be used to enhance its AI-driven platform, which integrates disparate data sources from draft legislation, public comments, regulatory discussions, news, and social media to offer better intelligence and context.
Claimed to be the first regulatory superintelligence platform, Abstract’s technology functions like a team of analysts, proactively identifying risks and opportunities.
The platform also offers insights into cross-jurisdictional policy trends and help businesses navigate complex regulatory environments.
Abstract’s platform leverages cutting-edge AI technologies, including large language models (LLMs) and retrieval-augmented generation (RAG).
Besides, the platform uses a proprietary database of over seven million regulatory records to synthesise legislative and regulatory data points in real time.
It sources information from more than 145,000 government bodies, along with news and social media channels.
By integrating with existing workflows, the platform tailors its insights to each business’s unique risk profile. It enables legal, product, finance, and human resources teams to address compliance challenges efficiently.
Abstract CEO and co-founder Pat Utz said: “Our AI platform is already transforming the way our customers and technology partners are identifying how any proposed change or existing government policy impacts their business.
“Instead of spending inordinate amounts of time manually reviewing changes from legacy bill tracking tools, corporate teams are presented with Abstract’s tailored insights into ‘risks’ and ‘opportunities’ for their businesses, allowing them to be proactive before proposed bills or regulatory changes are finalised.”
