Tech Company Financing Transactions

Sandbar Funding Round

Abstract Ventures, private investors and BoxGroup participated in a $4.8 million funding round for Sandbar. This venture round was announced on 1/23/2023.

Transaction Overview

Company Name
Announced On
1/23/2023
Transaction Type
Venture Equity
Amount
$4,800,000
Round
Undisclosed
Investors

Abstract Ventures (Lead Investor)

private investors (Lead Investor) (Lachy Groom)

BoxGroup

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
Phone
Undisclosed
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.
Profile
Sandbar LinkedIn Company Profile
Social Media
Sandbar Company Twitter Account
Company News
Sandbar News
Facebook
Sandbar on Facebook
YouTube
Sandbar on YouTube

Management Team

Title
Name
Email & Social
Chief Executive Officer
Brock Bontrager
  Brock Bontrager LinkedIn Profile  Brock Bontrager Twitter Account  Brock Bontrager News  Brock Bontrager on Facebook
Chief Technical Officer
Abe Goldstein
  Abe Goldstein LinkedIn Profile  Abe Goldstein Twitter Account  Abe Goldstein News  Abe Goldstein on Facebook
Co-Founder
Brandon Bontrager
  Brandon Bontrager LinkedIn Profile  Brandon Bontrager Twitter Account  Brandon Bontrager News  Brandon Bontrager on Facebook


 

 

Browse more venture capital transactions:

Prev: 1/23/2023: Log9 Materials venture capital transaction
Next: 1/23/2023: AdipoPharma venture capital transaction

 

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Where The Data Comes From

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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