Lowenstein Sandler represented Droit, a technology firm at the forefront of computational law and regulation, in the closing of a $23 million Series B investment in its latest funding round. The round was led by Pivot Investment Partners and UBS, the leading global wealth manager, through its venture and innovation unit UBS Next. Goldman Sachs, an existing investor, is also participating in the financing round.

Since its founding in late 2012, Droit has established itself as a technology provider advancing global regulatory compliance in the capital markets space, with its patented Adept platform now used by the world’s largest financial institutions for pre- and post-trade decision-making and auditability.

The investment will support Droit’s expansion into wealth management through the development of new products specifically for the sector, including Cross Border and Product Suitability. This natural extension of the Adept platform for use in wealth management will allow financial institutions to benefit from the same transparent decision-making infrastructure deployed for capital markets. The investment will also support Droit’s expansion of new and existing products, including Position Reporting, Transaction Reporting, advancements in Droit’s Pre-Trade product suite, and the build-out of new cloud-based services.

Over the past two years, Droit commercialized four new product lines and increased its headcount by nearly 70 percent, adding key leadership roles in business development and technology. Droit also expanded its global footprint establishing a presence in Singapore to support existing clients and build new relationships in the region.

The Lowenstein deal team included Anthony O. Pergola, Kathleen A. McGee, Ed Zimmerman, Samantha Fox, Andy Gong, Brian A. Silikovitz, Eric Sands, and Chynara Tolubaeva.