$1m fundraise for regtech leader ThoughtRiver

ThoughtRiver has raised more than $1 million from a group of investors, including former Vodafone UK CEO Guy Laurence and Michael Findlay, chairman of Morgan Sindall and former co-head of investment banking for Bank of America Merrill Lynch.

The funding round, which was also listed on SyndicateRoom, an online equity investing platform, and promoted by Cambridge Capital Group, was oversubscribed within 11 days.

Founded in 2013 by Tim Pullan, ThoughtRiver has developed software that uses AI to scan and interpret information in written contracts. It produces visuals of the potential risks in an online dashboard to enable the user to make better decisions more quickly.

ThoughtRiver is also backed by international law firm Taylor Vinters, which has incubated the company.