Making It Work: AI data compliance start-up lands €1.3m funding boost

Altada has closed a €1.3 million investment round, bringing total funding in the Cork-based AI start-up to €4 million. It has secured the investment from Enterprise Ireland, the state agency, and Rocktop Partners, an alternative investment manager headquartered in the US. Rocktop is one of 15 clients using Altada's technology, Allan Beechinor, the company's chief executive, said. Altada uses artificial intelligence and machine learning to help clients such as Rocktop, which handle high volumes of information, to manage due diligence and regulatory compliance. "Rocktop is involved in acquiring large pools of performing or non-performing residential mortgage loans. They would use us to identify collateral deficiencies and compliance issues within that portfolio," Beechinor said.