illumis Provides Comprehensive Real Time Data Coverage of Federal, State and Local Donations, Along with Solutions for Mitigating Potential Regulatory Risk

Deal Marks ComplySci’s Second Strategic Acquisition Since $120 Million Investment from K1 Investment Management in June

NEW YORK, Nov. 18, 2021 — ComplySci (the “Company”), the leading provider of regulatory technology and compliance solutions for the financial services sector, announced today that it has acquired illumis Inc., a premier data aggregator and technology provider whose solutions are used by financial services firms to identify and mitigate risk from employee political contributions. The transaction is ComplySci’s second acquisition in Q4 2021 and the latest step in the company’s mission to provide private equity firms, hedge funds, broker dealers and other financial services institutions with a comprehensive platform for streamlining and automating employee compliance functions.

Founded by CEO Mike Phillips in 2016, the illumis platform aggregates and normalizes public political contribution data and other public records. illumis’s data coverage includes the Federal Election Commission, the Internal Revenue Service and the Government Accountability Office, along with data from all 50 states and hundreds of counties and local municipalities to provide the country’s most comprehensive political donation data coverage. The platform offers sophisticated search capabilities and integrated preclearance and certification functions, as well as customizable, automated tools for firms to identify contributions from their employees and other associated individuals that potentially could draw scrutiny and penalties from regulators.

ComplySci CEO Amy Kadomatsu said, “At a time when more Americans are engaged in the political process, the task of monitoring and mitigating the regulatory risk associated with employee political contributions is more complex than ever. Financial services firms – more than firms in almost any other sector – are in the crosshairs of regulators trying to root out pay-for-play in public contracts, and these firms need technology that will enable them to identify contributions as they happen in order to quickly take action to manage and mitigate risk. illumis provides the premier solution available to the financial services sector, and we are thrilled to add Mike and his team to the ComplySci family.”

Without a technological solution to monitor and analyze political contribution data, financial services firms are left to manually scour a deluge of data from disparate sources for information on their employees. This process must be continuously repeated and is time-consuming for monitoring even a small group of individuals. And it is exponentially more arduous and complex for firms monitoring thousands of employees.

“The consequences for firms that don’t have a fast, effective way to monitor contributions are potentially severe, with significant penalties that can result from improper or undisclosed contributions and in terms of the potential clawback of revenues,” said Mike Phillips. “At illumis, we’re helping firms leverage the power of technology to keep a vigilant eye on donations, because the costs of not doing so can be an existential threat to a business. In the current political climate, the need for the security and peace of mind we provide has never been greater, and our team is proud to bring our solutions to the ComplySci platform.”

Following the close of the transaction, illumis will operate as illumis, a ComplySci Company, with Mr. Phillips serving as President, illumis. The illumis acquisition is ComplySci’s second since receiving a $120 million strategic investment from K1 Investment Management in June. In October, the company announced the acquisition of National Regulatory Services (NRS), an advanced provider of compliance consulting services and technology solutions for financial services firms.

ComplySci Board Member David Eisner, a former senior U.S. Treasury official and past CEO of ComplySci, concluded, “illumis’s capabilities are revolutionary for its clients, and adding its solutions to our platform will make ComplySci’s total suite of offerings even more indispensable to our clients. This acquisition is just the latest step in ComplySci’s stellar trajectory as it becomes the comprehensive RegTech provider of choice for financial services companies.”

About ComplySci

ComplySci is a leading provider of regulatory technology solutions that help compliance organizations identify, monitor, manage and report on conflicts of interest arising from employee activities, including personal trading, gifts and entertainment, political contributions, outside business affiliations, and other code of ethics violations. We believe advanced compliance technology empowers compliance professionals to transform their business and elevate the role of compliance in their firm. More than 1,400 customers, including some of the world’s largest financial institutions, rely on ComplySci’s scalable and sophisticated platform to stay ahead of risk and unlock the strategic potential of their compliance data. Learn more at complysci.com.

About illumis

illumis builds tools for transparency, with public data monitoring solutions trusted by leading institutions to help provide insight and manage risk. illumis offers the industry’s leading political contribution monitoring solution, trusted by leading financial institutions – including some of the world’s largest banks and asset managers – to manage compliance and avoid costly risks from potential regulatory violations. illumis aggregates data from thousands of sources, building the most complete and comprehensive dataset of campaign finance data available, with data updated daily. And illumis’s easy-to-use interfaces and integrated preclearance and certifications modules help compliance teams streamline and automate their workflows.

About K1

K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 110 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally-focused growth strategies designed to rapidly scale portfolio companies. Since inception of the firm, K1 has partnered with over 170 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information, visit k1.com and follow on LinkedIn.