PR Newswire
Legal & Compliance Tech Innovator Secures Funding to Fuel Expansion and Platform Development
SingleFile, a leading innovator in legal & compliance tech, announced the successful completion of its Series A funding round, raising $9 million. This milestone brings the company’s total funding to over $24 million since inception in 2019 and $15 million in the past 12 months, positioning SingleFile for continued growth and innovation.
The round was led by VC firm Foundry Group, with participation from existing investors, including Pioneer Square Labs, and The LegalTech Fund; and law firms Wilson Sonsini, Cooley, DLA Piper, Fenwick, Perkins Coie, and individual lawyers from the firm K&L Gates. This investment underscores confidence in SingleFile’s mission to streamline complex regulatory compliance processes through cutting-edge technology.
“With the adoption by over 60 law firms (33 AmLaw 200) and more than 4,000 customers, this new round of funding marks a significant milestone for SingleFile as we continue to revolutionize the way businesses and their trusted advisers handle ever increasing and repetitive compliance burdens,” said Aaron Finn, CEO of SingleFile. “With the support of our investors, we are well-positioned to double our investment into our platform’s capabilities, scale our operations and deliver even greater value to our customers.”
With this financing, SingleFile is expanding its senior executive leadership team as it scales for further growth. Mindy Lauck, the new Chief Product Officer, brings a wealth of product and executive leadership experience. Teresa Kotwis, the new Chief Financial Officer, offers decades of private and public company experience. These additions will help propel the organization toward future milestones.
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With the introduction of a comprehensive Corporate Transparencency Act solution in 2024, SingleFile has rapidly gained traction by providing a comprehensive & intuitive platform that simplifies and accelerates regulatory filings and compliance workflows across multiple government agencies and states. The platform’s ability to reduce time-consuming manual processes and ensure accuracy in regulatory compliance has resonated with companies seeking efficient solutions.
“An important aspect of early-stage venture is to lean in when you see a business really working. SingleFile has the makings of a generational business— a sticky product that’s delivering exceptional value to customers, a strategic distribution model, and best-in-class SaaS metrics,” said Jaclyn Freeman Hester, Partner, Foundry. “It’s an absolute pleasure to work with this team of seasoned executives and deepen our partnership with SingleFile as they forge the future of compliance tech.”
Since its founding in 2019, SingleFile has supported thousands of businesses, managing tens of thousands of legal entities, in staying compliant while reducing operational complexity. The company’s focus on customer-centric innovation with personalized service has earned it a reputation as a trusted partner in legal, venture capital, private equity, private wealth and real estate sectors, ultimately anywhere legal entities are used as a part of the organization’s ongoing operations.
Started in Seattle and now operating remotely across the U.S., SingleFile is a premier provider of automated compliance solutions designed to help businesses navigate complex regulatory environments effortlessly. With a commitment to innovation and customer success, SingleFile empowers companies to focus on growth while maintaining regulatory compliance.
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