GSS Raises Over $47 Million in Series A2 Funding
GSS has recently raised over $47 million in a Series A2 funding round. The funding round attracted new investor, the Commonwealth Bank of Australia, along with previous investors including AlixPartners, The Cynosure Group, and MUFG. John Fogarty has joined the GSS board as part of this significant investment, which marks the company's transition from the development phase to the operational phase. This transition comes as the cloud-native platform is set to go live with its inaugural clients.
GSS has received continued support from existing investors and has a uniquely formed Advisory Board consisting of over 30 global financial institutions.
This collaboration has helped establish common technology frameworks and industry standards, aiming to enhance compliance and processing efficiency across the financial sector. The infusion of funds is seen as a pivotal moment for GSS as it officially transitions into operational mode and brings its progressive RegTech solutions to the forefront.
As GSS aims to reshape regulatory compliance globally, the company envisions driving efficiency and accelerating transaction processing for financial institutions. Tom Scampion, CEO and Co-founder of GSS, expressed excitement about the funding round and working alongside incredible partners to bring GSS to market. With CBA joining the main board as an observer, and support from investors like The Cynosure Group, GSS is poised to revolutionize the sanctions screening industry and address critical challenges in compliance standards.
They've invested in Global Screening Services (GSS)
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