6clicks, Australian Risk Management Startup, Raises $6 Million

By Bruce Harpham Tuesday, March 9, 2021

Risk management doesn’t get the same hype as AI and driverless cars, but it is a critical business activity. Inadequate risk management can cause banks, insurers, hospitals, and other businesses to fail. 6clicks, a regtech startup company based in Australia, has raised $6 million in funding to help business customers manage risks. The founders developed their risk expertise by working at KPMG, one of the world’s largest accounting and consulting firms.

6clicks co-founders Anthony Stevens, Louis Strauss, and Andrew Robinson.

Business Customers Using 6clicks

“6clicks has assumed partnerships with some of the biggest brands in the world, including KWM (Mallesons), CyberCX, Pure Security, InSync, Pitcher Partners, Korda Mentha, Sayers Group,” commented Anthony Stevens, 6clicks CEO, in an interview with Startup Savant. The business has also expanded to the UK by helping a large business manage risk. The startup’s major UK customer is Rathbones, a leading UK asset management company with over £49.4 billion ($68.8 billion) under management.

Additionally, the startup company has signed up business consulting customers such as BDO. BDO, like KPMG, is a global network of accounting and consulting professionals. The company earned over $9 billion in global revenue in 2019.

Australians Invest in 6clicks

The regtech startup company has mainly focused on raising funds from investors in Australia. Luke Sayers, the former CEO of PWC Australia, is an investor in 6clicks. Furthermore, the company raised its first funding, a pre-seed round, in 2019. The business offers a free trial for business customers and two paid plans (i.e., the just risk plan at $90 per month and the risk and compliance plan for $250 per month).

Bringing AI to Risk Management

The startup company is also working on AI. “Our AI engine, Hailey, is our superstar. That latest version of Hailey (our AI engine) is due out in 2021,” Stevens told Startup Savant. The AI engine is designed to process hundreds of standards, laws, and regulations and the AI app can be used directly on the startup company platform or via an API subscription.

Making Risk Easier With ServiceNow

As a newer company, 6clicks faces the challenge of persuading business customers to trust it with highly sensitive company data. Fortunately, the Australian startup company is improving its app to make those conversations easier.

“The first integration is the one-way sync from the ServiceNow Asset Register into your 6clicks Asset Register. Once connected, a ServiceNow-to-6clicks update will be run every hour, meaning any assets removed, added, or updated in ServiceNow will be reflected in 6clicks,” explained Stevens in an interview with 6clicks.

Integrating with ServiceNow may help to open doors to many more business customers. Business customers using ServiceNow include Bridgewater Bank, Experian, Interstate Batteries, the NBA, and Novartis.

The Size of the Regtech Industry

The increasing complexity of regulations, laws, and risk management means operating a business can become quite a headache. An increasing number of regtech startups aim to help business users manage that risk. In 2019, the global RegTech market was worth more than $5 billion, according to a Facts and Factors research report. Major players in the regtech market include Accuity, Broadridge, IBM, Infrasoft Technologies, and MetricStream.

About the Author

Headshot of Bruce Harpham

Bruce Harpham is an author and marketing consultant based in Canada. His first book, "Project Managers At Work," shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.

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