Archive Intel, a specialist in asset management communications archiving and compliance solutions, has reached an important milestone.
The company announced today that it has successfully raised $1 million in seed funding, with Social Leverage leading the investment round.
The funding round was led by Social Leverage, an early-stage investment fund focused on technology companies. Founder and CEO of Social Leverage Howard Lindzon expressed his strong confidence in Archive Intel’s innovative approach.
“Archivo Intel’s innovative solution addresses a long-awaited need for financial communications recording & compliance software that meets both the multi-channel communications needs of advisors and SEC regulators,” said Lindzon.
The financial sector faced significant challenges due to the lack of communication archiving tools, which led to significant fines from authorities. Specifically, the SEC fined LPL and Ameriprise $50 million. In February, the regulator announced a collective civil penalty of $81 million against 16 other companies, including Northwestern Mutual & Lincoln Financial, for widespread communication failures.
Arkistoi Intel’s platform, launched in mid-April, aims to address these compliance issues by providing financial services firms with seamless archiving & analysis of multi-channel communications. With the funding received, the company will be able to improve its artificial intelligence capabilities, expand communications & strengthen resources to support growth.
“We are excited to include social work in our mission,” said Larry Shumbres, CEO of Archive Intel. “This funding will allow us to strengthen our AI capabilities, expand communications & strengthen resources to support growth.”
The platform currently supports archiving & compliance for a variety of programs, including Outlook, Gmail, Twitter/X, Facebook, Zoom Phone SMS, Microsoft Teams, and RingCentral. Archive Intel is expanding its multi-channel reach to include iMessage connectivity, enabling financial advisors to utilize this popular communication tool while meeting regulatory standards.
“A large portion of industry fines are due to improper archiving of iMessage communications,” said Shea Werner, director of revenue at Archive Intel. “With seamless iMessage integration, advisors can now seamlessly use one of the most used methods of communication without having to switch additional apps or phone numbers”.
Archives Intel’s successful funding round represents significant progress in addressing compliance issues in the asset management industry. With the support of Social Leverage, the company is poised to update and innovate its data warehousing solutions for financial services companies.
“Archive Intel’s innovative long-term solutions for financial information storage & software that meet multiple communication requirements for advisors and SEC regulations,” said Howard Lindzon, founder and managing partner of Social Leverage.
