Monnai, a Los Angeles-based risk data infrastructure company, has raised $12 million in equity funding led by Motive Partners, with participation from existing investors Commerce Ventures and 500 Global, bringing the company’s total funding to $23 million since its founding in 2021.
In a statement on Wednesday, Monnai said the capital will be used to scale its infrastructure, improve data performance and response times and accelerate adoption of its platform, which is already live across four continents.
Monnai offers low-latency data, built-in backtesting and observability tools that allow customers to measure performance, monitor data and optimize risk models, thereby extending their internal risk and fraud teams.
In conjunction with the funding, Monnai also plans to expand coverage in Europe and Latin America and to hire across engineering, data and go-to-market roles through 2027.
“While risk models and AI-driven decisioning continue to advance, their effectiveness is fundamentally constrained by the quality of the data behind them. Monnai exists to change that. With this funding, we will accelerate our ability to deliver high-quality identity and risk insights across billions of identities, while expanding local coverage and improving performance across key markets,” Pierre Demarche, CEO of Monnai, said in a statement.
