Hawk, the pioneering provider of AI-powered AML screening, and fraud prevention solutions, has completed a $56m Series C funding round.
The company, a trusted partner to over 80 customers worldwide, including major Tier 1 banks and mid-market financial institutions, is renowned for its robust technology trusted by some of the most regulated firms in the industry.
One Peak led this substantial funding round, with contributions from a consortium of existing investors including Macquarie Capital, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus, and Coalition. This financial injection will bolster Hawk’s continued product innovation and support its strategic expansion efforts, particularly into the US market.
Hawk revolutionizes the way banks handle financial crime by moving beyond traditional rules-based systems that often generate high volumes of false alerts and are susceptible to manipulation by criminals. Its AI-driven technology enhances accuracy in detecting criminal activities, significantly reducing false positives, and doubling the rate of uncovering previously undetected ‘novel’ criminal activities.
The funds from this latest round will be directed towards further developing Hawk’s AI capabilities, emphasizing the transformative impact that machine learning and generative AI can have across anti-financial crime operations. This investment will also assist Hawk in its mission to equip financial institutions with cutting-edge technology and expert support necessary to optimize their compliance operations.
David Klein, Co-founder and Managing Partner at One Peak, expressed his enthusiasm about backing Hawk’s growth, noting, “The value that Hawk delivers to AML and fraud teams around the world is truly remarkable. Financial institutions of all sizes attest to Hawk’s ability to deliver impressive results, exceptional reliability and collaborative support.”
In his remarks, Hawk CEO Tobias Schweiger highlighted the operational improvements brought by AI technology, stating, “Every financial institution that wants to reduce compliance workloads and increase the accuracy of risk detection should be using AI to achieve those goals. This investment enables us to further our mission, and we’re grateful to One Peak for their support, as well as the continued trust of our existing investors.”
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