London-based Worldover, a platform to simplify global compliance in the beauty industry, has secured $3.8 million in funding.
WHO: Launched in 2022, Worldover is looking to simplify the complex and ever-changing world of global regulatory compliance, functioning as a software-as-a-service (SaaS) offering. The platform acts as a single source of truth, aggregating compliance data and automating regulatory documentation. Worldover aims to streamline compliance efforts, alleviate regulatory headaches, and facilitate smoother global product launches, reducing costs associated with consultancy fees or extensive in-house teams.
IN THEIR OWN WORDS: “We want to reduce the pain involved with bringing physical products to market. Currently, companies are spending up to 1% of their total revenue on making their products compliant through consultancy costs or the need for extensive internal teams which manually process documents,” co-founder and CEO Edward Alun-Jones said in a statement. “We’ve greatly accelerated the process by automating much of the data extraction. We’re starting with a laser focus on cosmetics, but our vision is to eventually enable any business to launch any product in any market.”
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