Spectrum Equity Leads $56M Series B for Xapien
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Xapien, a London, England company whose AI platform investigates people and companies for due diligence, has raised $56 million in a growth round led by Spectrum Equity. Existing investor YFM Equity Partners also participated. Axios reported the financing, a Series B, on September 10, 2026.
The money will fund expansion in the United States, which already produces about half of Xapien’s revenue. Plans include growing the company’s Boston office and relocating CEO Chris Green and other senior leaders there. Annual recurring revenue grew more than 350 percent in the two years before the round, even though the company sold into the American market without local sales staff.
Xapien’s platform searches public information, corporate records, sanctions lists, and media in multiple languages, resolves what it finds against similarly named individuals and organizations, and produces a sourced report. Customers say it automates roughly 90 percent of onboarding cases, freeing analysts to concentrate on higher-risk investigations. A newer product, Xapien Live, is in beta and provides continuous monitoring rather than one-time checks at the start of a relationship.
Dan Secretan and Shaun O’Mahony founded the company in 2018, and Green joined as CEO in 2022. All three previously worked in the financial crime and national security divisions of BAE Systems. Green spent 17 years at BAE’s former Detica business, where he ran its Financial Crime division and grew it to £80 million in revenue and 600 employees across 16 offices, and later served as chief commercial officer of CallCredit through its roughly £1 billion acquisition by TransUnion.
Xapien counts 350 clients and partners across 15 countries, among them multinational corporations, law firms, private banks, universities, nonprofits, and professional services firms. Named customers and partners include Greenberg Traurig, ABB, Dow Jones Risk and Compliance, and KPMG. Spectrum Equity, founded in 1994 with offices in Boston, San Francisco, and London, has built a portfolio in risk and compliance technology that includes World-Check, Verafin, CyberCube, and Origami Risk.
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