Xapien, an London-founded AI-native due diligence platform that investigates people and companies, has announced a $56m investment round led by Spectrum Equity, a growth equity firm that specialises in risk and compliance technology, including World-Check and Verafin. Existing investor YFM Equity Partners also participated in the round. This growth investment will be used to build out Xapien’s U.S. presence, where it already generates 50% of its revenue, expanding its Boston office and relocating the CEO and other leaders. Xapien last raised an $8m Series A in 2024.
Business relationships are a key source of ongoing risk, yet budget and time constraints force organisations to reserve due diligence scrutiny for only a fraction of these counterparties, leaving them with significant blind spots. This gap in diligence coverage has consequences, as only 30% of organisations report having the bandwidth to assess even half of their business relationships.
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“Third-party due diligence has remained stubbornly manual for twenty years,” said Chris Green, CEO of Xapien. “Hence, businesses have had to ration their scrutiny to a subset of relationships with one-off checks at the point of onboarding, leaving them massively exposed. This funding lets Xapien pursue its mission to give compliance, legal, and procurement teams full visibility on every counterparty, all the time, giving organizations the confidence to move at speed.”
Xapien was founded in 2018 by Dan Secretan and Shaun O’Mahony along with CEO Chris Green who joined in 2022, all three veterans of BAE Systems’ financial crime and national security divisions. The Company serves multinational corporations, law firms, private banks, and leading universities and nonprofits, as well as powering automation for leading professional services firms. The company has seen rapid market adoption, with 350 clients and partners in 15 countries now using Xapien to transform their due diligence capabilities. Representative clients include Greenberg Traurig, ABB, Dow Jones Risk & Compliance, and KPMG.
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