We've raised an $11M Series A to build more of what our customers want
Cable’s mission is to reduce financial crime, and we’ve spent the last few years building world-first products to tackle this huge, $4 trillion problem. We’ve hit some incredible milestones so far by building:
- The first and only Automated Assurance product on the market, which finds financial crime regulatory breaches and control failures in real-time.
- The first and only truly automated risk assessment, which automatically updates for financial crime risk changes.
- Industry-leading Quality Assurance, business intelligence, and workflow tools to finally give Compliance Officers the product they need to excel at their jobs.
And we’ve built all of this in a way that not only gives banks and fintechs the compliance infrastructure they need to grow, but which also enables BaaS banks to have complete oversight over their fintech partners. Cable’s platform of effectiveness testing tools is helping regulated banks like Axiom Bank, Quaint Oak Bank, and Griffin better manage their fintech partners, and fintech and crypto companies like Tide and Ramp expand rapidly in multiple geographies.
But what we’ve built so far is only the first 1% of the roadmap that we have planned, and barely scratches the surface when we think about our mission.
Which is why I am delighted to let you know that we’ve raised an $11M Series A from Stage 2 Capital and Jump Capital, with ongoing involvement from our previous investors CRV.
“Natasha, Katie, and the entire Cable team are building the critical infrastructure our financial system needs to thrive as it evolves in 2023 and beyond. They have built a product that customers value. In the coming years, hundreds of essential financial institutions and technology companies will rely on Cable to improve their financial crime posture. We could not be more excited to support them on their mission.”
Dan Heck
Partner, Stage 2 Capital
What does this mean for our customers?
Raising money in and of itself is not our goal at Cable. We look at this fundraising as a way to reach more customers more quickly with the products and features they need to do their jobs better.
The need for Cable's automated effectiveness testing has never been more pressing than right now, given the extreme volatility of the current regulatory and banking environment. Regulatory compliance and effective controls are front and center in regulators' minds, especially in the financial crime space. Rapidly changing banking models have regulators sounding alarms about significant emerging risks that need to be managed in new ways. On top of this, consumers are increasingly choosing to go to financial services providers that put accountability and responsibility first.
These trends mean Cable is uniquely positioned to help reduce financial crime and provide the transparency that banks, regulators, and consumers want and need.
“At Jump, we look for founder-market fit. Natasha and Katie's financial crime expertise from Monzo and Square, and their plan for Cable, impressed us. We are incredibly excited to partner with the Cable team and believe they will bring software and automation to what has historically been a largely manual process to test financial crime control effectiveness.”
Tarun Gupta
Partner, Jump Capital
What’s next for Cable and our growing team?
To that end, we’ll be using this money to hire across our product, engineering, data, and go-to-market teams, and quicken our product development pace to make more headway into our long roadmap of products and features.
You can find our open roles here, and if you can’t see one that looks right for you, please email us at hiring@cable.tech.
As with everything we do at Cable, we considered this fundraise with our Operating System in mind, and there are a few key things I want to highlight. The first is the investors that we brought on – Dan and Liz from Stage 2 Capital and Tarun from Jump Capital. All are investors that we’ve gotten to know deeply over the last year, and who we believe align closely with the Principles in our Operating System. I am delighted to bring them to the table to leverage their go-to-market experience as we look to accelerate through the next phase of our growth.
The second is an update on the diversity of our Cap Table, which continues to be important to us. With our new investors, we’ve improved diversity as it relates to ethnicity and gender identity, but have seen a slight reduction in diversity across nationality and sexual orientation. As always, this is something we will continue to track and improve over time.
And finally, thank you!
I want to thank all our customers, who we truly consider to be partners in building our product and achieving our mission, and the entire Cable team. Starting a company with such a massive goal can be a strange and lonely thing, but surrounding yourself with people you respect, trust, and like is what makes it all worthwhile.
With our strong march toward our mission with the innovative products we are building and our growing team of mission-driven, passionate financial crime fighters around the world, we’re thrilled to embark on the exciting next stage of our growth!
