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Sigma Ratings


Sigma Raises Venture Round Led by Fitch Group

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Oct 29, 2020


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Sigma Ratings

Published:

Oct 29, 2020


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Congrats to FTC II portfolio company Sigma on their recent funding round from Fitch Group, a global leader in financial information services.

The round includes participation from Contour Ventures, Barclays, and FinTech Collective.

"We welcome Fitch, an original pioneer of the modern ratings system, as one of our investors and look forward to what we will accomplish together. As an existing partner and consumer of Sigma services, it is a natural next step for Fitch to invest now and help power the development of our technology which has broad application for anyone assessing risk globally."

Stuart Jones, Jr., Co-founder and CEO

FTC Summary


Sigma is the easiest way to evaluate and monitor risk in any relationship. Based in New York, Sigma powers multi-factor counterparty risk scoring for financial institutions, professional services firms and governments. Originally launched with 500 entities scored on its platform, Sigma now processes over a billion datapoints to pre-compute and keep current risk scores on hundreds of millions of companies.

With less than 1% of money laundering detected and an increasing level of regulatory and reputational risk associated with illicit finance more broadly, organizations and their boards are seeking automated solutions to proactively model, track and predict governance and financial crime-related risk across commercial relationships. Sigma's technology helps organizations stay ahead of risk by reducing screening and monitoring tasks from hours to seconds.

Sigma's approach is made possible through the combination of global datasets, cutting edge matching and retrieval algorithms, and expertise developed through senior-level work to combat financial crime at the United States Treasury Department. Utilizing Sigma's cloud-based tools, bulge bracket financial institutions, asset managers, insurance companies and money service providers are all seeing a significant decrease in their time-to-insight.


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