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September 29, 2022

10 years helping regulated industries do the right thing, more effectively

by
Amanda Brief
Marketing Director, Clausematch

It’s crazy to think that Clausematch is already celebrating its 10th Anniversary! In this period of time the company has grown beyond being a start-up to one of the leading global regulatory technology companies providing cutting edge compliance solutions for policy lifecycle management. From signing dozens of new clients across EMEA and APAC to expanding to the North America market, the company has experienced a number of big events over the last decade, all the while supporting organizations who want to do right by their customers and stakeholders.

Here’s a quick snapshot of some of the milestones from Clausematch’s journey to date:

Clausematch was founded (2012)

Evgeny Likhoded founded Clausematch in London, after a decade of working as a lawyer with derivatives trading agreements for global banks and energy companies.

Product development (2012-2014)

Clausematch developed its MVP product and secured angel funding. In 2014, the company successfully graduated from the inaugural Barclays Accelerator run by TechStars. This helped us establish a product-market fit, targeting the compliance market. 

Go live with our first client, Barclays (2016)

The contract with Barclays was signed after we participated in the Barclays accelerator, and our partnership is still growing strong with them. That first engagement enabled us to create the case study with Barclays that shows how compliance can be done in a more efficient and modern way, with a real-time collaboration tool.

Breaking into the Insurance market (2019)

Clausematch successfully graduated from Lloyds Lab, validating the fit of the policy management solution for the insurance industry. The program was a door opener to Clausematch supporting insurance organizations, including Barbican Insurance, Managing Agency Partners (MAP) and many others.

US Launch (2020)

In April 2020, Clausematch was one of ten companies selected to participate in the FinTech Innovation Lab NYC 2020, run by the Partnership Fund for New York City along with Accenture. The 12-week lab ran 100% virtually and helped highlight the needs of the market for innovative and collaborative tools that supported the new online-first reality. Clausematch launched operations in the US, following successful graduation from the Lab and signing contracts with 4 tier 1 North American financial institutions.

Introducing new products (2021)

Clausematch launched a new essential product module, Policy Portal, to help companies quickly disseminate the latest risk and compliance updates across their organization, train staff more effectively, and easily track adherence. After the Policy Portal soft launch, Clausematch witnessed an immediate surge in adoption. User numbers shot up from 2,000 to just under 170,000 in a couple of weeks, when Barclays adopted the solution for their global workforce.

Further growth in 2022 and beyond (2022)

Clausematch closed the strategic funding round led by Lytical Ventures, Sony Innovation Fund and Flashpoint VC to increase commercial activities in the US and invest in its product, technology and data science teams. The team surpassed 70 people based out of the UK, the US, and Singapore. And soon, we’re launching our new tech office in Europe. Stay tuned!

Click here to view our full timeline.

Clausematch is excited for the next 10 years and beyond. Here’s to many years of helping regulated industries protect their customers and businesses!