Contingent raises $8.2 million from investors led by Octopus Ventures.

Contingent, a New York, USA and London, UK-based SAAS developer of a supplier risk and resilience platform, secured series A equity funding round closed at $8.2 million.

The money was raised from investors led by Octopus Ventures, and joined by Connect Ventures, Seedcamp, Concentric, Ascension, and Working Capital Innovation Fund.

Proceeds will be used to develop a suite of SaaS applications and to enable international expansion

Contingent, founded by CEO Tai Alegbe, developed a SAAS solution used to deliver third-party risk due diligence, proactive monitoring, and operational resilience, that provides a quick, complete, up-to-date analysis of suppliers and businesses, thereby helping firms comply with regulation, reducing third-party risk exposure. The company provides users with tools and services to assess, screen, monitor, and analyse risks in their supply chains, fitting seamlessly into an organisation’s existing procurement workflow and technology ecosystem

Existing customers include Monzo, Seagate, Huel, Barratt Developments plc, and HM Government.

Contingent previously raised $2.3 million in a funding round led by Connect Ventures in 2020.