Circit, a financial data verification platform, secures $22 million in growth equity financing to expand its global verification network. The funding, led by Ten Coves Capital, aims to enhance audit quality and efficiency through AI-enabled technology. The platform has seen rapid adoption by over 400 audit firms and verified millions of transactions.

Circit offers auditors independent, source-verified audit evidence, replacing manual workflows with secure, API-driven connections. The platform enables digital audit confirmations, direct access to bank-verified transaction data, and AI-driven collaboration. As the audit industry shifts towards digital processes, Circit emerges as a trusted verification layer for AI-powered audit evidence and insights.

The new capital will fuel product innovation, deepen bank API connectivity, and expand Circit’s presence in the US market. David Heath, Co-Founder and CEO of Circit, emphasizes the importance of modernizing audit infrastructure to improve trust in financial reporting. Steven Piaker of Ten Coves Capital praises Circit’s network-driven model and API-first architecture for enhancing audit and compliance workflows globally.

Investors like Aquiline and MiddleGame Ventures recognize Circit’s role in addressing audit failures by enabling real-time verification at scale. The platform operates at the intersection of digitization, automation, and AI tools to manage risk more efficiently. Circit’s focus on building critical verification infrastructure aligns with the evolving needs of the audit profession and financial services industry.

Read more at Yahoo Finance: Circit Secures $22m Growth Equity Funding to Build the Independent Verification Layer Powering the Future of Audit