[{"data":1,"prerenderedAt":112},["ShallowReactive",2],{"gql:data:yquYFdTwAK":3},{"article":4},{"articleSubcategory":5,"body":8,"contentBlockItems":9,"companies":10,"derivedSeoDescription":27,"derivedSeoTitle":28,"derivedSocialMediaDescription":27,"derivedSocialMediaImage":29,"derivedSocialMediaTitle":28,"date":41,"externalAuthor":31,"hasVideo":42,"heroImage":43,"secondaryTileImage":55,"slug":57,"teamMembers":58,"tileImage":109,"title":111},{"name":6,"slug":7},"Partnership Announcements","partnership-announcements","A single bad counterparty can undo years of careful growth. But despite the risk, most organizations still vet the people and entities they work with in the same way they did twenty years ago: slowly, manually, and only when it’s absolutely necessary.\r\n\r\nNo one knows this better than the founding team at Xapien: Shaun O’Mahony, Dan Secretan, and Chris Green. The team previously worked together at BAE Systems, building and commercializing large-scale investigation and financial crime monitoring systems. Using early machine learning techniques, they pulled insight from vast volumes of unstructured data for big banks, law enforcement, and national security clients. With Xapien, they set out to build a platform capable of answering a simple, but pervasive question that organizations face daily: *Who exactly are we doing business with?*\r\n\r\nToday, [we announced our investment in Xapien](/news/xapien-secures-56-million-to-scale-dynamic-due-diligence-globally/), the AI-native due diligence platform that delivers fully sourced, comprehensive research on any person or organization in minutes – combining the speed and cost advantages of traditional screening with the accuracy, depth, and auditability of enhanced due diligence.\r\n\r\n\r\n### The Hardest Problem in the Due Diligence Value Chain\r\n\r\nSpectrum has been investing in leading counterparty risk intelligence businesses for more than twenty years – starting with [Seisint](/portfolio/seisint), the open-source data-linking business acquired by LexisNexis (acq. 2004), to [World-Check](/portfolio/world-check/), the global KYC and sanctions screening database now part of LSEG (acq. 2010), and more recently, [Verafin](/portfolio/verafin), the financial crime detection platform acquired by Nasdaq (acq. 2019).  In our view, each of those businesses pioneered technical advances in counterparty analysis. Seisint tackled data aggregation and linking of public records at massive scale. World-Check paired human research with open source intelligence in financial compliance. Verafin brought machine learning and financial institution collaboration to financial crime monitoring and investigations.\r\n\r\nOver our many years of investing in risk and compliance, one part of the value chain remained stubbornly resistant to technology-centric approaches: enhanced due diligence (or “EDD”). EDD is the work organizations do when the stakes are highest: onboarding a major client, accepting a large donation, or taking on suppliers or partners whose problems could become yours. It goes far beyond basic database and screening checks, which today are plagued by false positives, and expands into open-ended research across the public domain.\r\n\r\nUnfortunately, EDD has always been messy, expert-led work. It lived with in-house analyst teams and outsourced work with professional services firms, took days to complete, and cost thousands per subject. It got rationed accordingly. Most organizations reserved EDD for a small subset of their highest-risk relationships and accepted blind spots everywhere else. With Xapien, the technology has finally caught up with the problem.\r\n\r\n### Why Xapien\r\n\r\nXapien did not “pivot” to AI. The company spent half a decade developing their own proprietary models and grounded them in the team’s deep expertise around counterparty risk intelligence. When new foundation models emerged in 2022 and became mainstream in the subsequent years, the company thoughtfully integrated them into their product. The Xapien team appreciates the new capabilities of modern LLMs, but they also understand the guardrails necessary to match the standards of risk and compliance technology buyers: that any LLM-supported outputs be not only accurate and comprehensive, but also auditable and replicable.\r\n\r\nThe result is a platform that operates at comparable level to what a skilled research analyst does, at machine speed, scale and cost. The platform reads the open web, corporate records, sanctions lists, and media in any language; resolves against similarly-named people and entities; and returns a clear, fully sourced report in minutes rather than days. And unlike general-purpose AI, Xapien is built for one thing: accurately identifying counterparty risk. Its unique combination of LLMs and deterministic logic are tuned continuously for this specific purpose, generating answers that withstand the scrutiny of a regulator, a board, or a front-page news article.\r\n\r\n### What We Heard from Customers\r\n\r\nXapien has earned its reputation by working with globally respected institutions: major law firms, leading universities and nonprofits, and global professional services organizations, buyers for whom a missed risk is existential. This loyal client base is now expanding into multinational enterprises, where the same research problem shows up across supply chains, client onboarding, and third-party risk. In our diligence, customer conversations kept returning to the same themes:\r\n\r\n* **Time, cost, and report breadth improve together.** Customers describe getting all three at once, where the old approaches – screening databases or analyst-led diligence providers – forced a trade-off among them.\r\n‎\r\n* **Teams get redeployed and budgets get reallocated.** Analysts move from gathering information to exercising judgment, and organizations expand their diligence scope on the same budget.\r\n‎\r\n* **Use cases keep expanding.** Once research takes minutes, customers apply it earlier and more often, enabling high-volume screening  before onboarding and continuous monitoring after. \r\n\r\n### Partnering for the Road Ahead\r\n\r\nXapien built its business from London, earning the trust of customers across the UK and Europe. U.S. revenue grew meaningfully before the company had made any formal push into the market. With this investment, the team will be doubling down on both the product roadmap and expanding their U.S. presence – CEO Chris Green and other members of the executive team have already relocated, and now work right around the corner from Spectrum’s Boston office. We are excited to partner with Chris, Dan, and Shaun as they work towards making Xapien-powered dynamic due diligence the new standard by which organizations manage third-party risk.\r\n‎\r\n‎\r\n‎\r\n1. Portfolio companies are presented for illustrative purposes only. For a list of Spectrum Equity’s portfolio companies, please visit [https://spctrm.pe/list-of-investments/](https://spctrm.pe/list-of-investments), which is updated periodically and reflects investments that have been publicly announced. ",[],[11],{"name":12,"slug":13,"logo":14},"Xapien","xapien",{"id":15,"alt":16,"caption":17,"assetUrl":18,"assetUrlXs":19,"assetUrlSm":20,"assetUrlMd":21,"assetUrlLg":22,"assetUrlXl":23,"assetUrlXxl":24,"width":25,"height":26},"2460","Xapien logo dark green Spectrum Equity",null,"https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/xs_xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/sm_xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/md_xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/lg_xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/xl_xapien_logo_dark_green_spectrum_equity_portfolio.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2460/xxl_xapien_logo_dark_green_spectrum_equity_portfolio.png",640,294,"Over the course of our 20+ years investing in risk and compliance, one part of the value chain stayed out of technology's reach: enhanced due diligence. Today we announced our investment is Xapien, the technology that has finally caught up with the problem. ","Xapien: The AI-Native Engine for Enhanced Due Diligence",{"id":30,"alt":31,"caption":17,"assetUrl":32,"assetUrlXs":33,"assetUrlSm":34,"assetUrlMd":35,"assetUrlLg":36,"assetUrlXl":37,"assetUrlXxl":38,"width":39,"height":40},"2","","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/xs_SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/sm_SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/md_SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/lg_SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/xl_SpectrumEquity-OpenGraph.jpg","https://www.spectrumequity.com/system/uploads/fae/image/asset/2/xxl_SpectrumEquity-OpenGraph.jpg",1200,630,"2026-09-10",false,{"id":44,"alt":45,"caption":17,"assetUrl":46,"assetUrlXs":47,"assetUrlSm":48,"assetUrlMd":49,"assetUrlLg":50,"assetUrlXl":51,"assetUrlXxl":52,"width":53,"height":54},"2455","Xapien logo ","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/xs_Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/sm_Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/md_Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/lg_Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/xl_Investment_Perspective_Xapien_and_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/2455/xxl_Investment_Perspective_Xapien_and_Spectrum_Equity.png",2112,1284,{"id":56,"alt":31,"caption":17,"assetUrl":17,"assetUrlXs":17,"assetUrlSm":17,"assetUrlMd":17,"assetUrlLg":17,"assetUrlXl":17,"assetUrlXxl":17,"width":17,"height":17},"2454","xapien-the-ai-native-engine-for-enhanced-due-diligence",[59,85],{"authorImage":60,"bioImage":70,"firstName":81,"lastName":82,"slug":83,"title":84},{"id":61,"alt":31,"caption":17,"assetUrl":62,"assetUrlXs":63,"assetUrlSm":64,"assetUrlMd":65,"assetUrlLg":66,"assetUrlXl":67,"assetUrlXxl":68,"width":69,"height":69},"589","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/xs_Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/sm_Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/md_Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/lg_Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/xl_Adam_Margolin_author_photo_Spectrum_Equity.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/589/xxl_Adam_Margolin_author_photo_Spectrum_Equity.png",750,{"id":71,"alt":31,"caption":17,"assetUrl":72,"assetUrlXs":73,"assetUrlSm":74,"assetUrlMd":75,"assetUrlLg":76,"assetUrlXl":77,"assetUrlXxl":78,"width":79,"height":80},"590","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/xs_Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/sm_Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/md_Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/lg_Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/xl_Adam_Margolin_Headshot_Spectrum_website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/590/xxl_Adam_Margolin_Headshot_Spectrum_website.png",820,1094,"Adam","Margolin","adam-margolin","Managing Director | Boston | Spectrum Equity",{"authorImage":86,"bioImage":95,"firstName":105,"lastName":106,"slug":107,"title":108},{"id":87,"alt":31,"caption":17,"assetUrl":88,"assetUrlXs":89,"assetUrlSm":90,"assetUrlMd":91,"assetUrlLg":92,"assetUrlXl":93,"assetUrlXxl":94,"width":69,"height":69},"450","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/xs_Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/sm_Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/md_Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/lg_Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/xl_Philip_Rasansky_.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/450/xxl_Philip_Rasansky_.png",{"id":96,"alt":97,"caption":17,"assetUrl":98,"assetUrlXs":99,"assetUrlSm":100,"assetUrlMd":101,"assetUrlLg":102,"assetUrlXl":103,"assetUrlXxl":104,"width":79,"height":80},"451","Phil Rasansky headshot","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/xs_Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/sm_Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/md_Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/lg_Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/xl_Phil_Rasansky_Spectrum_Website.png","https://www.spectrumequity.com/system/uploads/fae/image/asset/451/xxl_Phil_Rasansky_Spectrum_Website.png","Philip","Rasansky","philip-rasansky","Vice President | Boston | Spectrum Equity",{"id":110,"alt":31,"caption":17,"assetUrl":17,"assetUrlXs":17,"assetUrlSm":17,"assetUrlMd":17,"assetUrlLg":17,"assetUrlXl":17,"assetUrlXxl":17,"width":17,"height":17},"2456","*Xapien*: The AI-Native Engine for Enhanced Due Diligence",1789141018597]