Hummingbird

Hummingbird

Compliance platform for financial institutions

About Hummingbird

Simplify's Rating
Why Hummingbird is rated
A+
Rated A on Competitive Edge
Rated A+ on Growth Potential
Rated A on Differentiation

Industries

Consulting

Fintech

Company Size

51-200

Company Stage

Series B

Total Funding

$41.2M

Headquarters

San Francisco, California

Founded

2016

Overview

Hummingbird.co provides a modular platform for financial institutions to manage compliance investigations and reporting, focusing on Anti-Money Laundering (AML) regulations. The platform includes tools for case investigations, filing Suspicious Activity Reports (SARs), and validating reports through APIs, which allow different software systems to work together. Operating on a Software-as-a-Service (SaaS) model, Hummingbird generates revenue through subscription fees and advisory services. The company's goal is to streamline compliance processes for banks and FinTech companies, making it easier for them to meet regulatory requirements.

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Simplify's Take

What believers are saying

  • Partnership with PortX enhances compliance processes for financial institutions.
  • Introduction of modular apps allows customizable compliance tech stacks.
  • Hummingbird's SaaS model and advisory services offer comprehensive compliance solutions.

What critics are saying

  • Generative AI tools create new fraud challenges for AML operations.
  • Integration of LogicLoop may disrupt service continuity if not managed properly.
  • Over-reliance on third-party integrations could introduce vulnerabilities.

What makes Hummingbird unique

  • Hummingbird integrates with OpenCorporates for enhanced entity verification.
  • The acquisition of LogicLoop boosts Hummingbird's data integration and automation capabilities.
  • Hummingbird's AI-powered automation platform streamlines financial crime investigations.

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Funding

Total Funding

$41.2M

Below

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Hummingbird
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Competitive compensation

Flexible health/vision/dental coverage

401k plan

Flexible working arrangements & work/life balance

Donation matching to non-profits aligned with our mission

Modern tech setup

Remote first with periodic team get‑togethers

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-3%

2 year growth

4%
OpenCorporates
Mar 24th, 2025
OpenCorporates and Hummingbird partner to streamline entity verification for customer due diligence and financial crime investigations

Today, OpenCorporates Limited is excited to announce that OpenCorporates' legal entity data directly integrates with Hummingbird.

Business Wire
Sep 23rd, 2024
Hummingbird Acquires LogicLoop, Opening the Door for Risk and Compliance Teams Seeking Seamless Data Integration and Automation

Hummingbird, a leading provider of financial crime risk management solutions, today announced the acquisition of LogicLoop, a pioneer in no-code data

ArcticStartup
May 17th, 2024
Swedish startup bags $10.5M seed funding to advance AI integration in legal work

Stockholm-based legaltech startup Leya has successfully secured $10.5 million in a seed funding round led by Benchmark, with additional investments from Hummingbird, SV Angel, and Y-Combinator.

PYMNTS
Feb 29th, 2024
Lendapi And Portx Team To Streamline Digital Lending

Digital lending company LendAPI has teamed with Integration-Platform-as-a-Service (IPaaS) provider PortX.“Our advanced platform, when combined with PortX’s integration prowess, will enable financial institutions to not only simplify their lending and account opening processes but also to adopt more sophisticated, data-driven decision-making strategies,” Timothy Li, CEO of LendAPI, said in a news release Thursday (Feb. 29).“This partnership is about setting new standards in the industry and delivering unparalleled value to our clients,” Li added.According to the release, the LendAPI platform offers real-time custom credit scoring and variable setting capabilities for tenants, which lets financial institutions (FIs) tailor their lending criteria more precisely to their risk appetite and market needs.The companies said their integration is designed to be seamless, with LendAPI’s “comprehensive API endpoints” ensuring smooth integration with lenders’ infrastructures.“This collaboration ensures that FIs can effortlessly adopt and implement LendAPI’s advanced features, such as rule setting and shadow scoring, providing them with complete control over their decision-making processes,” the release said.Earlier this month, PortX launched a partnership with compliance platform Hummingbird, to make it easier for FIs to use Hummingbird’s services to investigate money laundering and other financial crimes.“With this partnership, any flags in the system for suspicious activities can be automatically pushed to Hummingbird,” said David Wexler, CEO of PortX.“This not only streamlines the process but also drastically reduces response times. It enhances the ability of FIs to promptly address and get ahead of potential issues, improving their overall risk management and compliance posture significantly,” Wexler said.Meanwhile, PYMNTS has recently been examining the use of artificial intelligence (AI) in helping FIs make lending decisions, even though some consumers feel uneasy about the technology’s place in the financial services world.PYMNTS Intelligence research has found that bank and FI customers “are apprehensive of GenAI in financial services, with over 70% expressing nervousness about its use in the banking sector, PYMNTS wrote earlier this month. “Only 58% stated they would be comfortable with their banks using this technology.”To address these concerns, most customers said that factors such as data transparency, human oversight and government regulation would make them more comfortable with the use of AI in financial services

VentureBeat
Feb 20th, 2024
Exclusive: Hummingbird Launches Ai-Powered Automation Platform For Financial Crime Investigations

The rapid advance of generative AI content creation tools such as voice cloning, video and image generation, and chatbots has already resulted in new forms of fraud and financial crime: recall the unfortunate worker in Hong Kong who was recently tricked into transferring $25 million to fraudsters impersonating his CFO.But even as the threats multiply thanks to gen AI — and the losses pile-up, with an estimated $485.6 billion lost to fraud globally in 2024, according to research from Nasdaq — there are technologists working on new ways to use AI and machine learning (ML) to help apprehend and deter those responsible.Take the San Francisco-headquartered startup Hummingbird, which launched in 2016 specifically to offer easy-to-use, secure tools in-house crime investigators and compliance teams at large financial institutions and payments providers (among its customers are payments platform Stripe, bespoke marketplace Etsy, the sports betting platform DraftKings, FirstBank Puerto Rico, and others).Today, in a VentureBeat exclusive, Hummingbird is announcing a new software Automations platform for customers, aimed at eliminating the manual, repetitive tasks that bog down investigators and compliance teams at large financial institutions.VB Event The AI Impact Tour – NYC We’ll be in New York on February 29 in partnership with Microsoft to discuss how to balance risks and rewards of AI applications. Request an invite to the exclusive event below. Request an invite“The goal is really bite-size automation recipes that help with financial crime investigations,” said Joe Robinson, CEO of Hummingbird, in a video call interview with VentureBeat. “And because this work is so regulated, any applications of AI or logic or algorithms in general need to be relatively transparent, very auditable, and process-focused with a human in the loop. Those are the key characteristics of what we’re doing.”The murky world of fi-crime investigationsInvestigating financial crime may seem to those outside the industry like something from an episode of Law and Order, filled with intrigue, drama, and suspense.And it certainly can be. But according to Robinson, the meat of the work is in combing through vast volumes of financial transaction data to find anomalies and determine if they are worth a closer look, as well as trace where the money is coming from and going to — is it being laundered, or derived from criminal activity?For banks and companies that accept payments, offer payment platforms, account solutions or wallets, the move in recent years has been to hire teams of dedicated, in-house investigators to do this job regularly, then call in outside authorities when proof of a crime has been assembled.“When you’re a financial crime investigator, you’re generally looking at the activity of of one of your customers and trying to suss out: ‘is the activity suspicious or not?'” Robinson explained.“For example, if I was at a payment card company, I might be looking at 15 to 30 different data sources that represent a specific customer’s activity

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