Bonfire Ventures and Communitas Capital spearheaded this most recent investment round, increasing Abstract's total capital to more than $9 million.

Abstract's cutting-edge platform, which incorporates AI to evaluate and synthesize heterogeneous regulatory data—from draft legislation to public comments and regulatory discussions—will be the primary beneficiary of the seed financing. Through this connection, a superintelligence platform is created that functions similarly to a group of analysts and gives companies preemptive insights into opportunities and threats that are pertinent to their operations.

Abstract builds its regulatory intelligence platform using state-of-the-art technologies like Retrieval-Augmented Generation (RAG) and Large Language Models (LLMs). It analyzes social media, news trends, and millions of data points from more than 145,000 government agencies to provide businesses with real-time insights on how regulatory changes may impact them.

The company intends to utilize the additional funding to strengthen its capacity to provide comprehensive and contextual knowledge that helps companies navigate the ever-more-complex regulatory landscape. This project will improve Abstract's capacity to provide customized insights, empowering customers to anticipate dangers and take advantage of new possibilities.

Furthermore, considering the rising expenses and complexity of regulatory compliance, Abstract's expansion is especially welcome. Abstract's AI platform seeks to simplify and lessen the difficulties brought on by the record $4.2 billion in federal lobbying expenses for U.S. firms in 2023.

According to Pat Utz, CEO and co-founder of Abstract, "corporate teams are presented with Abstract's tailored insights into 'risks' and 'opportunities' for their businesses, allowing them to be proactive before proposed bills or regulatory changes are finalized," rather than having to spend excessive amounts of time manually reviewing changes from legacy bill tracking tools.

In the past, more than 200 organizations—including Fortune 500 businesses and non-profits—have shown their support and interest in Abstract, demonstrating its usefulness and efficacy across a range of industries.

Benefits from our thorough due diligence with Abstract's clients included considerable time savings, enhanced risk management, and a greater capacity to take advantage of policy-driven possibilities. "It is evident that this is the ideal solution at the ideal moment," stated Tom Glocer, Communitas Capital's co-founder and general partner.