# Lucinity Holding ehf.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lucinity-holding-ehf

- Industry: Software
- Headquarters: Reykjavik, Iceland
- Website: www.lucinity.com
- Total disclosed funding: $25M
- Latest round: Series B (Jul 7, 2022)
- Investors on record: 6

## About

Lucinity Holding ehf. provides an AI-driven platform that enhances financial crime investigations and compliance processes for financial institutions, improving efficiency and reducing manual workloads.Founded in 2018, Lucinity Holding ehf. is based in Reykjavik, Iceland. The company specializes in AI solutions for financial crime prevention, particularly through its flagship product, the Luci AI Agent. The founder, Gudmundur GK, has a history of entrepreneurship and is currently serving as the CEO. Lucinity raised USD 17 mn in Series B funding in July 2022, led by Keen Venture Partners with participation from Crowberry Capital, Experian Ventures, Karma Ventures, and byFounders. This funding round marked the successful culmination of its financing efforts, bringing the total amount raised to USD 17 mn.Lucinity primarily offers an AI-powered platform designed to streamline financial crime operations and investigations, focusing on compliance for financial institutions. Their flagship product, the Luci AI Agent, automates various investigative tasks, significantly reducing the time taken for financial crime investigations from hours to minutes. This platform integrates seamlessly with existing technologies used by clients, unifying various aspects of Anti-Money Laundering (AML), fraud detection, and sanctions compliance into one cohesive solution. Key features of the platform include customizable AI skills for tasks such as case summarization, money flow visualizations, and regulatory reporting. Lucinity serves a diverse client base that includes Tier 1 banks and financial service providers, focusing on markets such as North America, Europe, and parts of Asia.In the most recent fiscal year, 2023, Lucinity reported a revenue of USD 3,300,432. The company operates on a subscription-based model for its AI-powered compliance platform, allowing clients, primarily banks and financial institutions, to access the Luci AI Agent and associated services. The pricing structure is tiered based on service level and user count, supporting both B2B and direct-to-consumer transactions. This model allows larger institutions to deploy the solution across multiple departments, enhancing the value derived from their investment in Lucinity’s technology.Lucinity plans to leverage its recent funding of USD 17 mn raised in July 2022 to innovate its product offerings and expand its market reach. Upcoming product enhancements for the Luci AI Agent are in development, aimed at further automating compliance operations. The company seeks to penetrate new markets in Asia and expand its footprint in North America and Europe by 2024. The funding will support these initiatives, enabling Lucinity to enhance its technology and market presence.

## Funding rounds

- Series B, Jul 7, 2022, $17M — Keen Venture Partners, Karma Ventures, Crowberry Capital, byFounders, Experian Ventures
- Series A, Jul 15, 2020, $6.1M — Karma Ventures, Crowberry Capital, byFounders, Preceptor Capital
- Seed, Jun 5, 2019, $2M — Crowberry Capital, Preceptor Capital

## Investors

- Crowberry Capital (https://capitalatlas.ai/funds/crowberry-capital) — Seed, Series A, Series B
- Preceptor Capital (https://capitalatlas.ai/funds/preceptor-capital) — Seed, Series A
- Karma Ventures (https://capitalatlas.ai/funds/karma-ventures) — Series A, Series B
- byFounders (https://capitalatlas.ai/funds/byfounders) — Series A, Series B
- Keen Venture Partners (https://capitalatlas.ai/funds/keen-venture-partners) — Series B
- Experian Ventures (https://capitalatlas.ai/funds/experian-ventures) — Series B