Cryptocurrency Compliance Company CipherOwl Completes $15 Million Seed Round, Led by General Catalyst and Flourish Ventures

BlockBeats News, October 9th, CipherOwl, a crypto compliance startup founded by former Coinbase and Cruise employees, has completed a $15 million seed round of financing. The round was led by General Catalyst and Flourish Ventures, with participation from Coinbase Ventures, Enlight Capital, and other investment institutions.

For a long time, banks and fintech companies have relied on various technologies to identify suspicious transactions and ensure that their business is not exploited by bad actors. Now, as cryptocurrency gradually penetrates the mainstream financial system, these institutions also need new software to monitor crypto transactions, and that's exactly what CipherOwl is doing.