Company will use investment to expand its enterprise offering across US and Global Markets to meet increased consumer demand for its solution
txtsmarter, a secure pipeline for full communications capture across private messaging applications, platforms, and services, announced the completion of its Series A funding round. Textsmarter LLC, which recently won two global regulatory awards for “Most Innovative Use of Alternative Data in Regulatory Compliance” and “Leading Innovators in Communications Data Leak Mitigation,” will use the funds to expand its services in the US and European enterprise markets, to enable companies in highly regulated industries to respond to increasing oversight from regulatory agencies.
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To guide the company in its new phase of growth, Edward Green, an experienced technology CEO and Founding Partner of Exigent Ventures, has been appointed the new CEO of Textsmarter LLC. As former CEO of Ring Access and Basys Automation Systems, Mr. Green is also a seasoned investor with 26 years of direct venture capital experience, with many investments in high-growth technology and business services. He replaces former CEO Nuri Otus, who is no longer involved in the company’s operations.
“Some of the largest global financial institutions are reaching out to us to address the growing need for regulatory solutions in eComms surveillance,” said CEO Edward Green. “This funding round has been paramount in growing our development team and providing additional features based on our future roadmap to expand our services in the enterprise market. Over the past couple of months, global regulatory agencies have focused on financial institutions, levying billions of dollars of fines for missing texts and WhatsApp messages. txtsmarter’s unique solution empowers companies to achieve eComms compliance in near real-time across an ever-shifting landscape of communication channels.”
The funding round was led by Carolina Financial Group, a North Carolina investment bank and financial services company.
txtsmarter recently announced the ability to not only capture all communications in real-time but extend that functionality to pull in historic WhatsApp messages from activated devices as well, in response to comments the FCA made in their Market Watch newsletter 68*, regarding their concerns that requirements for market abuse surveillance were still not being fully met.
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