Deutsche Bank has co-led a $10 million Series A funding round for Norwegian compliance automation technology provider Kosli.
Deutsche Bank's Corporate Venture Capital (CVC) group co-led the round with Heavybit, with participation from Defined Capital, Transpose Platform, and a number of angel investors.
Kosli argues that governance, risk, and compliance (GRC) workflows have lagged behind the significant cloud and DevOps transformations in software development, creating a slow and costly bottleneck that delays the release of changes to production - while also increasing risk.
In a 2024 McKinsey survey, 41% of global financial institutions said metrics and reporting capabilities were a key weakness in their overall infrastructure.
Launched in 2019, Kosli aims to help financial institutions navigate this tension. It helps clients automate their SDLC controls and audit trails, enabling them to deliver compliant and secure software changes at the speed of DevOps.
“Kosli addresses the specific needs of software development teams that operate in highly regulated industries,” says Martin Reeves, who leads engineering platforms and practice at Deutsche Bank's technology, data and innovation division.
In addition to the funding, Kosli Enterprise also launched today with new features for financial services businesses, including support for large user bases, change management automation, and audit evidence generation.
Mike Long, CEO, Kosli, says: “Right now, teams in regulated industries are basing control and audit decisions on information that is written into text boxes. It destroys software delivery performance with manual work, and piles up errors and risks that are found retrospectively in audits or system failures.
“We want to transform this broken process with controls engineering so that teams can deliver compliant, secure changes quickly at scale.”