Financial crime intelligence company ComplyAdvantage has acquired Golden Recursion, an American firm focused on automating the construction of the largest open knowledge graph of entities and topics.
Based in San Francisco, Golden Recursion engages with graphs that showcase interconnected data points and their relationships for analysing complex data.
Golden Recursion founder and CEO Jude Gomila said: “By combining our experienced team of AI and large language model (LLM) specialists with ComplyAdvantage’s industry-leading data science team, we are creating a global team of data experts.”
Through the acquisition of Golden Recursion, ComplyAdvantage aims to expand its financial crime intelligence offering.
Besides, Golden Recursion’s utilisation of advanced natural language processing for data extraction and disambiguation will integrate additional diverse data sources into ComplyAdvantage’s data ingestion layer.
This is expected to offer customers more comprehensive real-time financial crime risk insights.
Furthermore, Golden Recursion’s acquisition bolsters ComplyAdvantage’s foothold in North America, with the former bringing an extensive base of US clients.
In line with the transaction, Andreessen Horowitz (a16z) joins a group of technology investors, including Ontario Teachers’ Pension Plan, Goldman Sachs, Index Ventures, and Balderton Capital.
By leveraging artificial intelligence (AI) and machine learning, ComplyAdvantage analyses a constantly refreshed database of entities to provide clients with the most precise 360-degree perspective of financial crime risk.
ComplyAdvantage CEO Vatsa Narasimha said: “Delivering AI-enriched financial crime insights to our customers through a best-in-class user experience built on the most interconnected data has been our north star at ComplyAdvantage since day one. The acquisition of Golden is a critical milestone on that journey.
“We are excited to welcome their talented team to the ComplyAdvantage family, alongside a16z, who bring powerful expertise as we embark on the next phase of our growth journey.”
