Tech Company Financing Transactions
Sandbar Funding Round
Abstract Ventures, private investors and BoxGroup participated in a $4.8 million Seed funding round for Sandbar. This venture round was announced on 1/24/2023.
Transaction Overview
Company Name
Announced On
1/24/2023
Transaction Type
Venture Equity
Amount
$4,800,000
Round
Seed
Investors
Proceeds Purpose
The company intends to use the funds to further develop the product, expand the pipeline, and support customers as Sandbar continues to accelerate growth following the public launch of the product.
Company Information
Company Status
Private & Independent
Industry
Software
Mailing Address
141 West 20th St 402
Manhattan, NY 10011
USA
Manhattan, NY 10011
USA
Phone
Undisclosed
Website
Email Address
Overview
Sandbar builds performant anti-money laundering (AML) software to more accurately identify illegal activity. Criminals launder an estimated $6 Trillion every year, yet less than 1% of this is caught. To provide better results, we ingest millions of messy data points, standardize that data, and run a complex suite of proprietary calculations designed to detect suspicious activity. Our product automatically monitors activity and empowers risk teams by putting necessary information at their fingertips. We provide information accessibility, build intuitive workflows, and allow for custom processing. Doing better can help cut off funding for kidnappers, human traffickers, terrorists, scammers, and other bad actors as well as reduce the effort and costs associated with developing and maintaining internal AML programs.
Management Team
Title
Name
Email & Social
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Our team works diligently to report on tech company VC transactions. VC transactions on this site are sourced from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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