Czech-US startup Myriad AI secures $7.8M in seed funding to scale AI-powered compliance platform

Myriad AI, a Prague-based startup enabling enterprises in heavily regulated industries to track and automate their regulatory obligations in real time, announced the closer of a $7.8 million seed funding round. The round was led by Category Ventures and backed by Long Journey Ventures.

About Myriad AI

• Myriad AI, founded by Ralf Schonherr and Jan Špidlen, is a Prague and San Francisco-based enterprise software company that automates regulatory compliance through artificial intelligence. 

• Its platform continuously monitors global regulatory changes and translates them into tailored, real-time actions for companies operating in heavily regulated industries such as financial services, insurance, and healthcare. 

• Beyond identifying new requirements, Myriad guides organizations on exactly what steps to take and verifies daily whether they are meeting all of their regulatory obligations.

Investment details 

The round was led by Category Ventures and backed by Long Journey Ventures. The seed round additionally included participation from 10VC, N1 Ventures, Plug and Play Tech Center, Breakwater VC, Caesar VC, BD Partners and Preston-Werner Ventures.

• Category Ventures invests in early-stage enterprise software startups, focusing on AI, infrastructure, developer tools, and applications. The firm leads pre-seed and seed rounds, typically investing $1.5-5 million.

• Along with the raise, Myriad AI is forming an advisory board with executives from the U.S. Department of the Treasury, U.S. Federal Reserve, GE Capital, UBS, Coface SA, and other top firms in regulated industries.

Myriad AI will use new funding to scale its engineering team in the EU and US, accelerate global go-to-market activities, and advance its AI development.

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