Draft:Regology
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| Regology | |
|---|---|
| Developers | Regology, Inc. |
| Initial release | 2017[1] |
| Operating system | Cloud-based, web browser |
| License | Proprietary |
| Website | regology.com |
Regology is a regulatory intelligence and compliance management platform that uses artificial intelligence and machine learning to help organizations track regulatory changes and manage compliance obligations across multiple jurisdictions. The platform is designed for use by compliance professionals, legal teams, and compliance officers in regulated industries.
Overview
[edit]Regology is a cloud-based Software-as-a-Service (SaaS) platform that providing regulatory intelligence and compliance workflow automation. The platform maintains a proprietary database of regulatory requirements and uses machine learning to monitor changes in laws and regulations across multiple jurisdictions.[2]
The platform is used across multiple regulated industries, including financial services, gaming, healthcare, pharmaceuticals, and technology sectors.[3]
History
[edit]Regology was founded in 2017 by Mukund Goenka (CEO), Pavan Bayyapu (CTO), and Paul Bruin.[4] According to Goenka, the company was inspired by his experience at PwC, where he worked with large financial institutions managing regulatory compliance through manual processes. "For seven years, Paul Bruin and I worked at PwC, implementing regulatory compliance programs for various large financial institutions. The processes of identifying the regulations applicable to products and functions were so time-consuming and manual."[5]
The company was accepted into Y Combinator and received seed funding in 2018.[6]
Series A Funding
[edit]In August 2021, Regology announced an $8 million Series A funding round led by venture capital firm ACME Capital, with participation from existing investors Gagarin Capital and Pine Wave Investments.[7][8]
According to the funding announcement, the capital would be used to expand the company's artificial intelligence platform and grow its engineering and sales teams.
Technology
[edit]Regulatory Database
[edit]The platform maintains a proprietary regulatory database. As of 2022, Regology reported maintaining a continuously expanding database of close to 10 million laws from multiple countries.[9]
Core Platform Components
[edit]The platform includes AI-driven agents for regulatory monitoring, compliance workflow management, and regulatory research. According to CEO Mukund Goenka, the platform is designed to address manual compliance processes: "The product simplifies and automates the identification of regulations, alerts the user when there is a legislative change, and streamlines the compliance management process."[10]
The platform's Smart Law Library enables users to organize laws by products, functions, and jurisdictions, allowing compliance teams to track regulatory requirements and generate compliance reports.[11]
RegIntel: Generative AI Solution
[edit]In July 2023, Regology announced RegIntel, a generative AI-powered solution for regulatory research and compliance analysis.[12]
Industry Applications
[edit]Regology serves multiple regulated industries. In gaming and gambling specifically, the platform helps operators manage compliance across varying state and jurisdictional requirements. According to industry reporting, "Across the gaming landscape, operators must think of external factors such as regulatory changes, and internal factors such as new products or new ways to accept payments (like crypto). Fortunately, with platforms like Regology, companies can automate the cumbersome tracking and mapping of laws to the business."[13]
The platform is also used in financial services, healthcare, and technology sectors for managing regulatory compliance obligations.
Industry Engagement
[edit]Regology has participated in major industry conferences and webinars. CEO Mukund Goenka spoke at SBC Summit North America 2022, a major gaming industry conference.[14]
In September 2022, Regology partnered with SBC Americas to present a webinar titled "Preparing for the New Age in Gambling Compliance," featuring CEO Mukund Goenka alongside gaming compliance professionals and regulators.[15] The webinar discussion emphasized the need for compliance automation technology, with regulatory experts noting that "All parties agree there are so many requirements, too many for human compliance teams to handle without the help of technology like Regology."[16]
Market Context
[edit]The regulatory technology (RegTech) sector has experienced significant growth. Market research indicates the global RegTech market was valued at approximately $15-17 billion in 2023-2024 and is projected to grow at a compound annual growth rate of 16-24% through the 2030s, driven by increasing regulatory complexity and demand for compliance automation.[17]
Key Personnel
[edit]- Mukund Goenka – Co-founder and Chief Executive Officer
- Pavan Bayyapu – Co-founder and Chief Technology Officer
- Paul Bruin – Co-founder and Chief Product Officer
Company Status
[edit]The company is based in Palo Alto, California and operates as a venture-backed SaaS provider in the regulatory technology sector.
See also
[edit]- Compliance management
- Governance, risk, and compliance (GRC)
- Regulatory technology
- Legal technology
- Enterprise resource planning (ERP)
- Artificial intelligence in business
- Business process automation
References
[edit]- ^ "Regology: AI Agents for Regulatory Compliance". Y Combinator.
- ^ "Regology: AI Agents for Regulatory Compliance". Y Combinator.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "Regology: AI Agents for Regulatory Compliance". Y Combinator.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "Regology: AI Agents for Regulatory Compliance". Y Combinator.
- ^ Ron Miller (August 19, 2021). "Regology snares $8M Series A to help navigate maze of global regulations". TechCrunch.
- ^ "Compliance management startup Regology secures $8m in its Series A". FinTech Global. August 20, 2021.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "Regology Introduces RegIntel to Transform Regulatory Compliance with Generative AI". Law.com Legal Tech News. July 17, 2023.
- ^ "Regology CEO Mukund Goenka: a laser-focus on compliance". SBC Americas. August 22, 2022.
- ^ "SBC Summit North America 2022 - All Speakers". SBC Events.
- ^ "Preparing for the New Age in Gambling Compliance". SBC Americas. September 14, 2022.
- ^ "How to Avoid the Growth Compliance Paradox in US Gambling". SBC Americas. September 28, 2022.
- ^ "RegTech Market Size, Share, Growth". Grand View Research.
{{cite web}}: Text "Industry Report, 2030" ignored (help)
External links
[edit]Category:Software companies Category:Compliance software Category:Legal technology companies Category:Regulatory technology Category:Cloud computing Category:Artificial intelligence applications Category:Companies based in Palo Alto, California Category:2017 establishments Category:Y Combinator companies Category:Startups funded by venture capital
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