Supervizor, a US-based plug and play quality assurance platform for finance teams, has secured $22m in a funding round led by Orange Ventures.

The round also saw the participation of La Maison Partners, Wille Finance, Adelie Capital, New Alpha Asset Management, and ISAI.

Clement Combal from Orange Ventures said: “We are pleased to partner with Supervizor as they carry on their journey to modernise financial risk management.

“Their innovative solution and increasing customer adoption are rapidly making them the leaders in their field. The Supervizor team is already driving meaningful impact for modern finance teams.”

Supervizor intends to utilise the new capital to bolster the continued innovation of its audit analytics platform. The firm will also expand its go-to-market operations across the globe with the funding.

Established in 2016, Supervizor engages in helping organisations around the world to safeguard against financial and compliance risks. Its services are said to contribute to the creation of error-free financial statements, ensuring the highest quality standards.

By leveraging Supervizor, finance, accounting and compliance teams can constantly monitor transactions, identify multiple types of anomalies, and counteract fraudulent activities to deliver financial quality assurance.

Supervizor integrates all enterprise resource planning (ERP) transactions and other data sources into a single, universal accounting model. The consolidated model serves as the foundation for its artificial intelligence (AI)-powered algorithms.

The company’s platform is said to be used by more than 70 global enterprises. These include Club Med, Diebold Nixdorf, Cirrus Logic, Hutchinson, Lacoste, Ikea, Michelin, and others.

Supervizor founder and co-CEO Alban Clot said: “Improving organisation’s financial Quality Assurance have been long sought corporate goals, but difficult to realise.

“The market to achieve such, however, is massive and surprisingly underserved. Supervizor’s rapidly growing customers are discovering firsthand the value that comes from better Quality Assurance including increased financial control, reduced costs and better compliance.”