What is the core problem Themis is solving?

According to slide 3, Themis addresses the 'hodgepodge of compliance point solutions' that do not communicate with each other. They highlight that SMBs struggle with disparate regulatory requirements and that the reliance on spreadsheets creates a lack of a centralized source of truth, resulting in an operational nightmare and a strain on growth resources.

How does Themis define its market opportunity?

On slide 7, Themis cites a $50 billion annual spend on compliance in the US Financial Industry. They further break this down into a Total Addressable Market (TAM) of $22.8 billion and a Serviceable Addressable Market (SAM) of $4.6 billion. Their projections include midsize financials, traditional finance, US Fintechs, EMEA/APAC Fintechs, and global crypto companies.

What specific regulatory events does the deck use to create urgency?

Slide 4, titled 'Why Now?', features a CNBC headline regarding Robinhood paying a $70 million penalty to FINRA for outages and misleading customers. The deck uses this to illustrate a trend of increased fines, a shortage of compliance expertise, and multiple regulatory agencies (SEC, OCC, FINRA) increasing oversight for innovative industries.

What is the long-term product vision for Themis?

Slide 8 outlines a three-phase roadmap. Phase 1 focuses on basic Fintech needs like policies and marketing. Phase 2 moves into collaboration, vendor due diligence, and issue management. Phase 3, titled 'Be a Bank,' introduces advanced features like FINRA 4530 reporting, risk assessment, and direct FINRA API integrations, suggesting a move toward full-stack regulatory infrastructure.

Does the deck provide details on the founding team's background?

Slide 9 states the company was 'Built by regulators, compliance officers and innovative thinkers,' but it does not list specific names, previous companies, or individual track records. This is a significant omission for a Seed round, as investors typically look for deep domain expertise in highly regulated sectors like Fintech compliance.

Themis Funding (Seed): Inside the 10-Slide Pitch Deck

See all 10 slides of the Themis pitch deck — a 2022 Seed deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Themis successfully raised a $9M Seed round in 2022 by positioning itself as the 'single platform to manage risk and compliance workflows.' The deck focuses heavily on the macro-economic and regulatory tailwinds, specifically citing the $70 million FINRA penalty against Robinhood as a catalyst for market demand. While the deck excels at defining the problem—a 'hodgepodge of compliance point solutions'—it is notably light on specific team biographies and historical traction metrics. Instead, it relies on a visual product roadmap and a massive $50 billion total addressable market figure to sell…

Key takeaways

The company identifies a $50B annual spend on compliance within the US Financial Industry on slide 7.
The 'Why Now' argument is anchored by a $70 million FINRA penalty against Robinhood shown on slide 4.
Themis positions its solution as having 'No implementation time' and 'Built-in Compliance Expertise' on slide 5.
The market size analysis projects growth across five sectors, including crypto companies and midsize financials, through 2024 on slide 7.
The product architecture is described as an integrated design building on data from other modules on slide 6.
A three-phase roadmap outlines a transition from serving Fintechs to helping companies 'Be a Bank' on slide 8.
The deck claims the team is 'Built by regulators, compliance officers and innovative thinkers' on slide 9, though individual names are omitted.
The problem is defined as an 'operational nightmare' caused by spreadsheets and disparate regulatory requirements on slide 3.

The Narrative: Compliance as a Growth Lever

Themis positions itself not just as a defensive tool, but as a platform to 'supercharge growth.' In the world of enterprise software, compliance is often viewed as a cost center or a bottleneck. Themis attempts to flip this narrative by suggesting that a 'common compliance framework' actually accelerates partnerships, particularly between fintechs and traditional banks. The deck is structured to move the investor from the chaos of current manual processes to a future of integrated, automated regulatory oversight.

Slide 1: Title and Tagline

The opening slide introduces the logo and the tagline: 'Create a Culture of Compliance.' The visual language is abstract and corporate, using a blue and purple gradient that suggests professional software. There are no specific metrics or claims on this slide, purely branding.

Slide 2: The Purpose

Slide 2 serves as an executive summary in a single sentence: 'A single platform to manage risk and compliance workflows.' This is a standard 'North Star' slide designed to ensure the investor understands the product category immediately before diving into the problem space.

Slide 3: The Problem

This slide uses high-friction imagery (people looking stressed at desks) to illustrate 'Today's Reality.' The text identifies three specific pain points: 1) A hodgepodge of point solutions that don't talk to each other, 2) Disparate regulatory requirements that confuse SMBs, and 3) An over-reliance on spreadsheets with no centralized source of truth. The slide explicitly states that 'Bad Compliance is a barrier to growth.'

Slide 4: Why Now?

This is arguably the strongest slide in the deck. It uses external validation to create a sense of urgency. It features a screenshot of a CNBC article detailing Robinhood's $70 million FINRA penalty. The slide lists three catalysts: increased fines combined with a shortage of expertise, multiple agency oversight (represented by the logos of the SEC, OCC, and FINRA), and an increase in cross-border and cross-sector partnerships. This slide answers why a solution like Themis is needed at this specific moment in time.

Slide 5: The Solution

The solution slide introduces the interface. It claims that Themis enables 'strong collaborative compliance' and offers an 'intuitive interface.' Key value propositions listed include a common framework to accelerate partnerships, 'No implementation time,' and 'Built-in Compliance Expertise.' The screenshot shows a 'Policies & Procedures' dashboard with columns for Effective Date, Department Owner, Policy Owner, and Review Date, indicating a workflow management tool.

Slide 6: Product Detail

Slide 6 uses a 3D pyramid graphic to explain the product architecture. The base consists of 'Basic Modules' (Policies, Training), followed by 'Regulatory Modules' (SEC, FINRA, OCC), 'Integrations' (HR tools, Google Drive), a 'Marketplace' for templates, and finally 'Reporting' for Boards and Regulators. This visualizes how the platform scales from simple document storage to a full regulatory reporting engine. It also features an 'AICPA SOC' badge, signaling security readiness.

Slide 7: Market Size

Themis presents a massive opportunity, citing a $50B / yr spend on compliance within the US Financial Industry. They break this down into a $22.8B TAM and a $4.6B SAM . A line graph projects growth from 2019 to 2024 across five segments. By 2024, they project the market to include 54,688 midsize financials, 35,686 EMEA + APAC fintechs, 24,273 US Fintechs, 13,000 traditional finance entities, and 3,021 global crypto companies.

Slide 8: The Roadmap

The roadmap is divided into three phases. Phase 1 (Fintech): Focuses on starting a fintech with policies and marketing modules. Phase 2 (Collaboration): Focuses on partnering with banks via collaborative workspaces and vendor due diligence. Phase 3 (Be a Bank): Focuses on becoming fully regulated with FINRA 4530 upgrades, risk assessments, and a direct FINRA API. This indicates the company's ambition to move up the value chain as its customers grow.

Slide 9: The Team

The team slide is surprisingly light on detail. It features an illustration of Themis (the Greek goddess of law) and states the platform was 'Built by regulators, compliance officers and innovative thinkers.' However, it does not name the founders or provide their specific professional histories. In a $9M Seed round, this information is usually front and center; its absence here suggests this may be a version of the deck intended for wider circulation or that the founders' reputations preceded them in private discussions.

Slide 10: Closing

The final slide is a standard 'Thank You' or contact slide, though in this specific version, it has been replaced by a call to action for the pitch deck library itself. The original deck concludes without a specific 'Ask' slide detailing how the $9M will be spent or what the specific milestones for the next 18 months are.

What Themis Does Well

The deck is exceptionally good at contextualizing the problem . By using the Robinhood fine as a centerpiece, they move the conversation from 'this is a nice tool' to 'this is a mandatory insurance policy against $70M fines.' The visual representation of the product as a stack (Slide 6) is also effective at showing how they intend to become a 'sticky' platform that integrates with a company's existing HR and file storage tools.

What is Missing from the Themis Deck

The most glaring omission is traction . There are no mentions of current pilot programs, number of customers, or revenue. For a Seed round of $9M, one would expect to see some evidence of product-market fit or at least a list of design partners. Additionally, the Team slide lacks the 'social proof' of previous successful exits or specific roles at major regulatory bodies. Finally, the Unit Economics and Competition slides are missing. The deck assumes there are no direct competitors, focusing instead on the 'hodgepodge' of manual tools, which ignores other GRC (Governance, Risk, and Compliance) software players.

Founder Takeaways: The 'Why Now' Hook

Founders should study Slide 4. If you are building in a 'boring' or highly technical space like compliance, you must find a high-profile failure in your industry to serve as your 'Why Now.' Themis uses the Robinhood headline to bypass the need for a long explanation of why compliance matters. It creates an immediate emotional and financial hook for the investor. Furthermore, the roadmap on Slide 8 is a great example of how to show expansion potential . They aren't just selling a policy tool; they are selling the infrastructure for a company to eventually become a bank.

Frequently asked questions

What is the core problem Themis is solving?: According to slide 3, Themis addresses the 'hodgepodge of compliance point solutions' that do not communicate with each other. They highlight that SMBs struggle with disparate regulatory requirements and that the reliance on spreadsheets creates a lack of a centralized source of truth, resulting in an operational nightmare and a strain on growth resources.
How does Themis define its market opportunity?: On slide 7, Themis cites a $50 billion annual spend on compliance in the US Financial Industry. They further break this down into a Total Addressable Market (TAM) of $22.8 billion and a Serviceable Addressable Market (SAM) of $4.6 billion. Their projections include midsize financials, traditional finance, US Fintechs, EMEA/APAC Fintechs, and global crypto companies.
What specific regulatory events does the deck use to create urgency?: Slide 4, titled 'Why Now?', features a CNBC headline regarding Robinhood paying a $70 million penalty to FINRA for outages and misleading customers. The deck uses this to illustrate a trend of increased fines, a shortage of compliance expertise, and multiple regulatory agencies (SEC, OCC, FINRA) increasing oversight for innovative industries.
What is the long-term product vision for Themis?: Slide 8 outlines a three-phase roadmap. Phase 1 focuses on basic Fintech needs like policies and marketing. Phase 2 moves into collaboration, vendor due diligence, and issue management. Phase 3, titled 'Be a Bank,' introduces advanced features like FINRA 4530 reporting, risk assessment, and direct FINRA API integrations, suggesting a move toward full-stack regulatory infrastructure.
Does the deck provide details on the founding team's background?: Slide 9 states the company was 'Built by regulators, compliance officers and innovative thinkers,' but it does not list specific names, previous companies, or individual track records. This is a significant omission for a Seed round, as investors typically look for deep domain expertise in highly regulated sectors like Fintech compliance.

Cover slide of the Themis pitch deck — Seed 2022 — Themis pitch deck, slide 1 (2022)

Themis pitch deck: the facts

Company: Themis
Year: 2022
Stage: Seed
Slides: 10
Sector: Enterprise Software / Fintech Compliance
Deck type: Seed Pitch Deck
Outcome: Raised $9M
Headquarters: Unknown (Website: themis.tech)

Themis pitch deck PDF

The full Themis deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Themis pitch deck was used for

This is Themis’s seed-stage pitch deck used to raise a **$9M seed round in April 2022** for its collaborative governance, risk, and compliance platform serving banks, fintechs, and crypto firms. The deck positions bad compliance as a barrier to growth and highlights a fragmented landscape of point solutions, disparate regulatory requirements, and spreadsheet-driven workflows for SMBs, aiming to justify a unified compliance collaboration platform. The fundraise was led by TTV Capital with participation from Felicis and existing investor Walkabout Ventures, and the capital was raised to tackle compliance and risk challenges in cross-sector and cross-border partnerships. The deck sits in the enterprise software / fintech compliance sector and emphasizes timing around rising fines, regulatory oversight, and shortage of compliance expertise, especially for innovative industries.

Business model: Collaborative governance, risk, and compliance (GRC) SaaS platform for banks, fintechs, and crypto companies, focused on streamlining compliance workflows and enabling cross-sector/cross-border partnerships.

Round: Seed
Year: 2022
Raised: $9M seed round
Lead investor: TTV Capital
Investors: TTV Capital, Felicis, Walkabout Ventures
Headquarters: New York, NY
Industry: Regtech / Enterprise GRC software for financial services.
Total funding: $9M total funding as of the April 2022 seed round.

Use of funds as presented: To solve compliance and risk challenges stemming from cross-sector and cross-border partnerships by building and scaling a collaborative GRC platform that reduces regulatory and compliance barriers between banks, fintechs, and crypto companies.

What happened after the Themis deck

Following the seed pitch deck, Themis successfully closed a $9M seed round in April 2022, led by TTV Capital with Felicis and Walkabout Ventures participating, and proceeded to launch and scale its collaborative GRC platform for financial institutions.

April 2022: Announced and closed a **$9M seed round** led by TTV Capital with participation from Felicis and Walkabout V
Post-raise: Public profiles and founder commentary indicate the platform launched with paying customers and began hiring

What the Themis deck got right

Concrete, relatable problem framing around fragmented tools and spreadsheet-driven compliance.. The problem slide clearly outlines a **fragmented compliance stack**—point solutions that do not integrate, disparate regulatory requirements for SMBs, and heavy reliance on spreadsheets with no centralized source of truth—creating a vivid picture of operational pain that supports a platform solution.
Compelling timing narrative tied to rising fines and regulatory complexity.. The “Why Now?” slide connects the opportunity to macro trends such as **increased fines, shortages of compliance expertise, and heightened cross-border and cross-sector regulatory oversight**, which aligns with external press coverage describing Themis’s focus on cross-industry and international collaborations.
Demonstrated fundraising effectiveness with credible specialist investors.. External sources confirm that this deck helped close a **$9M seed round led by experienced fintech/regtech investors (TTV Capital, Felicis, Walkabout Ventures)**, validating that the narrative, market framing, and solution resonated with the target investor audience.
Strategic positioning of compliance as an enabler of innovation partnerships.. The deck’s focus on **cross-sector and cross-border partnerships** positions Themis not merely as an internal compliance tool but as an enabler of collaboration between banks, fintechs, and crypto companies, which is later echoed in funding announcements and product descriptions.
Broad, integrated product vision backing up the platform narrative.. Themis’s externally described product vision includes integrated modules (risk assessment, vendor management, policy/document management, issue tracking, collaboration) and support for multiple regulatory regimes, which strengthens the deck’s implied promise of a unified, comprehensive GRC platform.
Concise deck length that still conveyed a strong, fundable story.. Founder and investor posts highlight that the pitch deck was concise (around nine pages) while still sufficient to raise $9M, suggesting the slides were focused and avoided unnecessary clutter—an advantage for busy investors.

What could have been stronger

Limited quantification of the compliance pain and market opportunity.. The problem slide describes fragmented point solutions, disparate regulations for SMBs, and spreadsheets as an “operational nightmare” but does not quantify the market size, dollar impact, or specific productivity loss, limiting the strength of the economic case.
Timing slide is text-heavy and partially unclear, weakening the urgency narrative.. While the “Why Now?” slide references increased fines, shortages of compliance expertise, and more cross-border oversight, it appears text-heavy and somewhat garbled (e.g., partial phrases), making the timing argument less crisp and harder to tie to specific regulatory events or trends.
No visible competitive positioning or clear differentiation in the excerpted slides.. From the OCR text available, there is no explicit articulation of Themis’s differentiation versus other GRC/regtech platforms—no competitive landscape or unique features are visible in these slides, which could leave investors questioning how defensible the solution is.
Potential inconsistency between SMB-focused problem framing and later enterprise/financial target market.. The problem framing emphasizes SMBs struggling with disparate regulatory requirements and spreadsheets, but later public descriptions focus on banks, fintechs, and crypto firms. This potential mismatch of target segments within the deck could raise questions about focus and ideal customer profile.

How an investor would read this deck

What draws attention

Clear articulation that **bad compliance blocks growth and strains resources**, which resonates strongly with investors in fintech and regulated industries.
Framing of a **fragmented landscape of point solutions and spreadsheets** as a structural problem amenable to a platform play, supporting a large, recurring SaaS revenue opportunity.
Use of the **Why Now** slide to tie the opportunity to increased fines, regulatory oversight, and talent shortages, creating a macro tailwind narrative.
Evidence from external sources that this deck successfully supported a **$9M seed round led by respected fintech investors (TTV Capital, Felicis, Walkabout Ventures)**.

Risks that stand out

Regtech and GRC for financial institutions is a competitive space with several established vendors; without strong differentiation, Themis could face longer sales cycles and pricing pressure.
Heavy dependence on evolving regulatory environments and enforcement trends means that changes in fines, oversight intensity, or compliance practices could affect perceived urgency and budget allocation.
Selling into banks and regulated financial institutions typically involves long procurement and security review cycles, which can slow revenue ramp at seed stage.
If Themis’s product vision spans many modules (risk assessment, vendor management, policy management, collaboration), there is execution risk in building breadth and depth simultaneously without diluting focus or quality of core workflows.

Questions this deck invites

How does Themis price its platform for banks, fintechs, and crypto companies, and what are typical contract sizes and pay-as-you-go vs. subscription structures?
What specific regulatory regimes (e.g., US federal, EU, specific state regulators) are deeply supported in the product today, and how often are rule libraries updated?
How does Themis integrate with existing bank and fintech systems (e.g., core banking, KYC/AML tools, ticketing systems), and what is the average implementation time for a new customer?
What is the current customer base and usage (number of organizations, active users, volume of risk assessments or vendors managed) and associated churn or expansion metrics?
Who are the main direct competitors in GRC/regtech for financial institutions, and what features or workflows give Themis a durable advantage over them?

What founders can take from the Themis deck

Anchoring the narrative around **compliance as a growth barrier**—not just a cost center—can make a regtech pitch more compelling to investors focused on revenue enablement rather than pure risk avoidance.
Highlighting a **messy, fragmented tool and spreadsheet landscape** is an effective way to justify a unified platform approach in enterprise software, especially when workflows span multiple organizations and regulators.
A strong **Why Now** slide that links macro trends (rising fines, talent shortages, increased oversight) to the product thesis helps frame regulatory pressure as a tailwind rather than a hurdle for a startup.
Explicitly referencing **cross-border and cross-sector partnerships** positions compliance as a critical enabler of innovation ecosystems (banks–fintech–crypto), expanding perceived market scope beyond a single customer type.
Consistency between external funding announcements and the deck’s story (platform for banks, fintechs, and crypto) reinforces credibility and suggests the narrative resonated with specialized fintech investors.
Clear, concrete problem statements drawn from real operational pain (e.g., spreadsheets, disparate requirements, hodgepodge tools) make abstract GRC challenges tangible and easier for investors to grasp.

Themis pitch deck: common questions

What does Themis do?

Themis is a **collaborative governance, risk, and compliance platform** that allows banks, fintechs, and crypto companies to create a strong compliance environment quickly while enabling cross-industry collaboration on standards and workflows.

What specific fundraise was this Themis deck used for?

The seed pitch deck was used for Themis’s **$9M seed round announced in April 2022**, which funded development and scaling of its unified GRC platform for cross-border and cross-sector partnerships. The round financed product build-out and go-to-market to reduce regulatory and compliance barriers between financial institutions and innovative partners.

Who invested in Themis’s seed round and how much was raised?

The **$9M seed round** was led by **TTV Capital**, with participation from **Felicis** and existing investor **Walkabout Ventures**. Public funding databases and press reports consistently list these three firms as participants in the round.

How much funding has Themis raised in total so far?

According to funding profiles and press coverage, Themis’s **total funding** is reported as **$9M**, corresponding to the April 2022 seed round. No later equity rounds are listed in the funding summaries we have, though the company continues to operate its platform.

How does Themis’s platform help banks and fintechs with compliance?

Themis’s platform digitizes and centralizes GRC workflows, replacing point solutions and spreadsheets with integrated modules for risk assessment, vendor management, policy and document management, issue tracking, and collaboration workspaces. It targets banks, fintechs, and vendors needing to accelerate partnerships while maintaining compliance across diverse regulations such as Reg B, Reg V, SEC, and FINRA requirements.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

Themis pitch deck slides

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Themis pitch deck slide 3 of 10 — Themis pitch deck — slide 3 of 10

Themis pitch deck slide 4 of 10 — Themis pitch deck — slide 4 of 10

Themis pitch deck slide 5 of 10 — Themis pitch deck — slide 5 of 10

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What each slide of the Themis pitch deck says

Slide 3

The Problem Bad Compliance is a barrier to growth and a strain on resources Today's Reality + Ahodgepodge of compliance point solutions that do not speak to each other Disparate regulatory requirements. making it hard for SMBs to understand and comply. + Lots of spreadsheets with no centralized source of truth creating an operational nightmare

Slide 4

Why Now? Increased Fines + Shortage of Multiple Regulatory Agency Increase in cross-border and Compliance Expertise Oversight for Innovative industries cross-sector partnership olc e

Slide 5

Solution Themis enables strong PEER coco 00 - £2 =~ collaborative compliance +B = with an intuitive interface i. - — to supercharge growth. * = ° ° [=] A common compliance framework to - —— accelerate partnerships ° ° =] 3 4 ° No implementation time NE ° =e ° a Built-in Compliance Expertise ° = ° One platform to monitor and maintain _ your entire compliance program 5

Slide 6

Product Detail 7 [9] Z Themis' integrated design » > builds on data from other ; modules providing a holistic .- picture of risk NF ; =u = ~~? 4 : : 1h — — Ae " Collaborative Real Time Expertise N : py & g d Source of Truth “Vg, i % doe 7. fl i ] L]

Slide 10

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Slide text above is read directly from the Themis deck PDF embedded on this page.