Clausematch, a global regulatory technology company developing solutions for regulatory compliance, has launched a new office in Lisbon, Portugal.
The base is its first in the Southern European country and third branch worldwide, in addition to established teams in the UK and North America.
The team of nine employees specialises in engineering and product development. Additional employees plan to join the Lisbon team in the coming months.
Launching an office in Portugal is part of Clausematch’s overall strategy to position itself as the world’s leading solution for policy management and compliance automation, according to CEO and founder Evgeny Likhoded. Bringing Clausematch – which topped our sister publication BusinessCloud’s RegTech 50 ranking last year – to another region is in line with the company’s values of growth, diversity, and overall development.
“I am thrilled to help build our new Lisbon team. We intend to expand a strong Portuguese team to support our client projects globally,” said Likhoded. “Lisbon will provide a unique outlet for our engineering team, as it is quickly becoming an established tech outlet in Western Europe.”
Coordinating the launch of an office with nearly a dozen employees was not an easy task, as administrative head and leader of the Portugal office Ekaterina Petrushina explained.
“In 2022, we spent a lot of time and effort to achieve the goal of an engineering hub in Portugal,” said Petrushina. “We are nearly complete with the project, and it’s very rewarding to see that our employees are settled and happy to start life in such a warm and welcoming country.”
In the decision to launch another office in Europe, Clausematch said it was immediately drawn to Lisbon as Portugal has made significant strides to become a hub for technology and innovation. Government officials have implemented a number of initiatives aimed at supporting the tech sector and attracting foreign investment, including tax incentives for startups and tech companies and investment in research and development.
Additionally, there has been a focus on developing the tech talent pipeline through initiatives in Portugal, such as education programs and job training initiatives.
In 2022, Clausematch doubled its annual revenue rate and increased its headcount from 50 to 71 employees. Last year, it raised $10.8 million funding from Sony Innovation Fund, Lytical Ventures and Flashpoint VC, which helped it expand its product development, commercial, and operational teams, as well as boost investment in its growing North American team.
The expansion of a third Clausematch office into Portugal further reflects the emphasis of diversity in the company’s values. Of the more than 70 employees, there are more than 20 different languages spoken and more than a dozen nationalities represented.