Compliable Company Profile

Background

Compliable, formerly known as Rebric, was founded in 2016 and is headquartered in Denver, Colorado. The company specializes in providing a comprehensive gaming licensing platform designed to streamline and automate the licensing process for real-money gaming operators, vendors, and iGaming companies. By reducing the time and errors associated with manual licensing procedures, Compliable enables clients to efficiently manage and maintain gaming licenses across multiple jurisdictions. The company's mission is to simplify compliance processes, thereby facilitating faster market entry and operational efficiency for its clients.

Key Strategic Focus

Compliable's strategic focus centers on automating and simplifying the complex process of gaming licensing. The platform allows employees to securely enter their information once, which is then auto-populated across multiple forms, reducing form fill time by 75%. This approach significantly cuts the time required to get staff licensed, lowers the workload for compliance teams, and reduces costs related to licensing. By enabling operators and suppliers to enter new jurisdictions and manage renewals within a single interface, Compliable positions itself as a critical tool for companies aiming to expand rapidly in the evolving gaming industry.

Financials and Funding

Since its inception, Compliable has demonstrated consistent revenue growth. In 2024, the company reported revenues of $270.3K, up from $213.7K in 2023 and $168K in 2021. To date, Compliable has raised a total of $5.3 million in funding. Notably, in October 2021, the company secured a $3.6 million seed extension round led by Bettor Capital. This investment aimed to enhance Compliable's platform capabilities and expand its product offerings. Additionally, in May 2021, Compliable raised $1.7 million in a seed funding round led by KB Partners. The capital from these funding rounds has been utilized to accelerate the delivery of key functionalities, expand the engineering team, and support the company's growth initiatives.

Technological Platform and Innovation

Compliable's platform is distinguished by its ability to automate the licensing process, thereby reducing manual errors and increasing efficiency. The system allows employees to enter their information once, which is then auto-populated across multiple forms, cutting form fill time by 75%. This automation ensures error-free applications and significantly reduces the time required for staff licensing. The platform also offers features such as tracking application status, expiration dates, and license history, providing a comprehensive solution for managing compliance requirements.

Leadership Team

Chris Oltyan, Chief Executive Officer: A seasoned entrepreneur with experience in shipping over 30 software products. He has raised $2.8 million for Compliable and leads the company's strategic direction.

Justin Stempeck, Chief Strategy Officer: Former Director of Licensing at DraftKings, bringing extensive experience in navigating the compliance landscape within the gaming industry.

Ben Neil, Co-Founder & Chief Technology Officer: Oversees the technological development and innovation of the Compliable platform.

Greg Ponesse, Chief Revenue Officer: Responsible for driving the company's revenue growth and expanding its market presence.

Leadership Changes

In October 2021, Compliable appointed Justin Stempeck as Chief Strategy Officer. Stempeck, formerly the Director of Licensing at DraftKings, brings valuable expertise in compliance and regulatory affairs to the company. Additionally, Carl Sottosanti, a fund advisor to Bettor Capital and former General Counsel of Penn National Gaming, joined Compliable's Board of Directors, further strengthening the company's leadership team.

Competitor Profile

Market Insights and Dynamics

The gaming industry is experiencing rapid growth, with increasing regulatory obligations across various regions. The demand for efficient compliance solutions is heightened as operators and suppliers seek to enter new markets swiftly while adhering to complex regulatory requirements. Compliable's expansion into European and Latin American markets aligns with this trend, offering a solution that addresses the challenges of multi-jurisdictional licensing.

Competitor Analysis

Compliable operates in a niche market with limited direct competitors. However, companies like LexisNexis Group and Computer Services offer compliance and regulatory solutions that may overlap with certain aspects of Compliable's offerings. LexisNexis provides comprehensive legal and regulatory information services, while Computer Services offers technology solutions for financial institutions, including compliance software. Despite these overlaps, Compliable's specialized focus on gaming licensing automation sets it apart in the industry.

Strategic Collaborations and Partnerships

Compliable has established partnerships with prominent industry brands, including FanDuel, Bet365, and BetFanatics, to facilitate their licensing processes in North America. These collaborations have enabled Compliable to refine its platform and expand its service offerings. The company's recent expansion into European and Latin American markets further demonstrates its commitment to supporting clients in navigating complex regulatory landscapes globally.

Operational Insights

Compliable's platform offers a significant competitive advantage by automating the complex and time-consuming process of gaming licensing. This automation reduces manual errors, accelerates market entry, and lowers compliance costs for clients. The company's focus on data security, with SOC 2 certification and encrypted data storage, ensures client information is protected, further enhancing its market position.

Strategic Opportunities and Future Directions

Looking ahead, Compliable aims to continue expanding its platform's capabilities and geographic reach. The company's recent entry into European and Latin American markets positions it to capitalize on the growing demand for efficient compliance solutions in these regions. By continually enhancing its platform and forming strategic partnerships, Compliable is well-positioned to support clients in navigating the evolving regulatory landscapes of the global gaming industry.