AI-driven Risk Management Platform, Mirato secured $9 Million funding

Mirato, an Israel-based provider of an AI-powered third-party risk management (TPRM) platform that automates the TPRM lifecycle, has now secured $9 million in funding round.

Mirato is founded by the Aki Eldar. It offers an AI-driven platform that automates the entire TPRM lifecycle, provides real-time visibility and advanced analytics, and helps to save the financial institutions both resources and time.

Lior Handelsman, General Partner at Grove Ventures, said, "We chose to invest in Mirato because it has all the essential ingredients of a highly promising company: deep technology expertise; exceptional and experienced founders; and a product that solves a real market need. We believe that Mirato has the potential to transform third-party risk management by empowering financial institutions and other organizations to gain risk insights more quickly, easily, and flexibly than ever before."

Dana Eli-Lorch, Managing Director at American Express Ventures, said, "Mirato has taken a highly innovative, advanced approach to the resource-intensive task of assessing and monitoring third-party risk. The Mirato platform can help streamline and automate the processes to onboard and monitor third and fourth-party suppliers. We are excited to support Mirato's continued growth." 

The round was backed by Grove Ventures and co-backed by the Janvest Capital Partners. Other participating investors include the iAngels, American Express Ventures, and others.

The company, as of now, has plans to use the new funds for the continued development and commercialization of its technology, notes the announcement.