Abstract Secures $4.8M to Accelerate its AI Solution for Managing Regulatory Risks and Opportunities
Abstract, the artificial intelligence company developing a regulatory superintelligence platform, announced it raised $4.8 million in seed funding, enabling the company to drive deeper focus on how Abstract’s platform combines disparate data elements—such as from draft legislation, public comments, and regulatory discussions—to deliver peak intelligence and context.
The funding round was co-led by Bonfire Ventures and Communitas Capital. This latest investment brings Abstract’s total funding to more than $9 million.
Functioning like a team of analysts, Abstract enables users to proactively flag risks and opportunities relevant to their business, unlock broad insights through news and social media channels, and distill relevant, cross-jurisdictional trends in policy.
"In a world where regulatory complexity continues to grow, Abstract is building essential infrastructure for modern enterprises, and we're thrilled to support them. What impressed us most wasn't just Abstract's technological innovation, but also the team's deep understanding of the regulatory landscape," said Mark Mullen, co-founder, Bonfire Ventures. “Their background has uniquely shaped Abstract's product strategy and go-to-market approach, positioning them to build something truly transformative in this space.”
As an AI regulatory agent, Abstract takes aim at the cost and complexity of regulatory compliance by proactively addressing issues for legal, product, finance, and human resources teams, according to the company.
Leveraging the latest AI technologies including Large Language Models (LLMs) and Retrieval-Augmented Generation (RAG), the platform synthesizes millions of legislative and regulatory data points, pulling real-time information from over 145,000 government bodies, social media and news trends.
The platform uncovers and contextualizes nuanced connections and implications that are missed in manual review, providing context for how news, media, and regulatory shifts may impact a company.
By integrating with existing workflows and leveraging a proprietary database of over seven million regulatory records, Abstract surfaces the most relevant risks and opportunities specific to each business' needs and risk profile.
“Our AI platform is already transforming the way our customers and technology partners are identifying how any proposed change or existing government policy impacts their business,” said Pat Utz, CEO and co-founder of Abstract. “Instead of spending inordinate amounts of time manually reviewing changes from legacy bill tracking tools, corporate teams are presented with Abstract’s tailored insights into ‘risks’ and ‘opportunities’ for their businesses, allowing them to be proactive before proposed bills or regulatory changes are finalized. Abstract acts as a team of analysts, providing context on how each change impacts everything from a product roadmap to a profit and loss statement.”
For more information about this news, visit www.abstract.us.