Bregal Milestone, a technology focused growth capital firm, has invested an undisclosed amount in CUBE Global, a provider of Automated Regulatory Intelligence.
CUBE will leverage the investment to deepen product capabilities for customers, fuel further international expansion, and accelerate overall growth both organically and through acquisition.
Philippe Lautenberg, Co-Founder and Managing Partner at Bregal Milestone, said:“We are highly enthusiastic to partner with CUBE for this next phase of growth. As a founder-led, category-leading Regulatory Technology (“RegTech”) business, benefiting from powerful regulatory tailwinds and market momentum, we believe CUBE is an innovation leader.”
As global regulations continue to rapidly evolve, compliance departments – particularly within larger financial institutions – are finding it increasingly difficult to clearly identify applicable requirements and their impact acrossmultiple lines of business, jurisdictions, products, and services.
Given large financial institutions are now spending between 10-15% of their operating costs on regulatory compliance each year and fines are in the billions, immediate action is needed.
CUBE’s ARI RegPlatform transforms complex regulatory change management and compliance processes, enabling compliance teams to significantly cut existing costs and move highly skilled individuals up the value chain whilst also reducing risk.
By capturing changing or emerging regulations and using AI to automatically enrich and map them to customers’ policies, procedures, and controls, CUBE’s solutions mean firms are alerted to regulations that matter to them instantly.
Therefore, freeing up compliance departments to focus on preventing non-compliance and ensuring good governance practices.
This strategic growth investment from Bregal Milestone will support CUBE’s next phase of expansion by leveraging both the growth firm’s extensive experience in scaling global technology companies and its in-house value creation team, Milestone Performance Partners.
In addition, the firm expects to provide ongoing support for CUBE’s further geographical expansion and to extend CUBE’s technology edge for further organic growth.
CUBE Founder & CEO, Ben Richmond, added: “Raising this level of investment in the current market from such a high quality growth capital investor is a significant validation of both our market position and vision. Given the current macro environment, customers across financial services and beyond will want to partner with providers that have a strong track record and a clear vision with the ability to execute – now is the right time for us to bring in a strategic partner.”
“We are building for the long term to ensure both our customers and their stakeholder’s success. Milestone is a strategic partner for CUBE who share our vision to be the category defining RegTech leader. Our customers can be confident in CUBE being with them every step of the way in delivering on their regulatory compliance strategy.”
