Locally based supply chain risk analysis startup Sayari Labs has raised a $9 million Series B funding round to advance its financial intelligence capabilities, a new blog post by the company says.
The D.C.-based company, founded in 2015, helps identify risk factors to help Fortune 100 corporations and financial institutions spot the potential for fraud and national security issues by scanning public and dark web data globally, with a focus on information from China, Iran, Russia and other tricky webscapes.
For example, it lets users quickly query whether a third party is registered in offshore jurisdictions and searches corporate registrations in Iraq and other places. Last year, the company noted its analysts spotted two companies in Macau it suspected may be linked to a known drug trafficking syndicate by using spousal information in corporate records.
“Sayari has developed an innovative platform to assess and manage third party business risk,” John Trbovich, general partner at Arsenal Growth, said in the blog. “As global commerce increases, it is more critical than ever for enterprises to have trusted, accessible and current financial intelligence data on their business partners."
Sayari Labs' new funding, led by private equity firm Arsenal Growth, builds on the $3.2 million round led by Mclean-based VC firm Lavrock Ventures in 2018. Lavrock added to this new round along with SAP’s National Security Services Ventures.
The company is led by co-founder and CEO Farley Mesko, who was previously chief operating officer at D.C.-based nonprofit C4ADS, which focuses on global information analysis in conflict zones and fragile states.
