Sayari
Sayari maps corporate ownership and trade risk from primary-source data across 250+ countries.
On the record
Checkpoint: US FY2026 appropriations decisions affecting CBP and Treasury contract funding
The call
Sayari holds government and bank customers through data and contracts that took years to build, while a well-funded rival circles without yet landing a visible win.
Sayari finds out who owns companies across 250+ countries and sells that information to the US government (customs, Treasury, FBI) and major banks for sanctions and fraud checking. It is hard to copy because Sayari spent years collecting this data from local courts and registries, and the US government trusts it enough to put it in official systems (a process called FedRAMP that takes years to complete). Dun & Bradstreet and S&P Global could do this too, but they have been slow to move, and generic AI tools cannot easily replace Sayari because they lack the private ownership records and the government approval. The one thing that could change everything is if Altana AI or another well-funded company builds the same trusted data stack and wins a US government contract, which has not happened yet but is possible.
Why
01
AI pressure: Generic frontier AI on sanctions/PEP screening. Chatbots can summarize public filings but can't replicate Sayari's licensed primary-source ownership data or its government-grade evidentiary trail. Could AI do the core job? Unlikely.
02
Bigger players: Altana AI (with Kharon, forced-labor supply chain partnership June 2026). Altana is a funded rival building federated supply-chain ML, but hasn't publicly taken marquee Sayari accounts yet. Could a giant copy it? Probably.
03
What protects it. Proprietary ownership data across 250+ jurisdictions plus multi-year CBP/Treasury contracts that are slow and costly to switch away from.
What would change this call
Altana AI or Exiger publicly announces winning a named Sayari government or bank client. Would show the moat is being breached, not just theoretical.
US FY2026 appropriations or continuing resolution cuts CBP/Treasury compliance-tech budgets. Would test whether Sayari's government revenue is as durable as claimed.
Sayari discloses commercial vs government ARR split or restates the $100M ARR figure. Would reveal whether growth is broad-based or concentrated in one contract-dependent segment.
US FY2026 appropriations or continuing resolution cuts CBP/Treasury compliance-tech budgets. Would test whether Sayari's government revenue is as durable as claimed.
Sayari discloses commercial vs government ARR split or restates the $100M ARR figure. Would reveal whether growth is broad-based or concentrated in one contract-dependent segment.
Key numbers
- $100M ARR
- $235M Series D raised
- 6 of top 10 global banks are customers
Named risks
- Federal budget or appropriations shocks could cut CBP/Treasury contract revenue given reliance on government funding.
- Self-reported $100M ARR figure is unaudited and could be restated downward.
- Mirato AI acquisition integration could stumble into 2027, undermining the AI workflow pivot.
- Well-funded rivals Altana AI and Kharon plus Exiger could win marquee accounts and erode Sayari's lead.
- TPG majority stake and rich Series D valuation limit equity upside for other stakeholders even if the company survives.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Altana AI | contesting | Unicorn status since 2024, partnered with Kharon on forced-labor intelligence June 2026, watch item not yet taking share |
| Kharon and Exiger | contesting | Partnered in 2024 to accelerate supply-chain risk innovation, direct rival to Sayari's screening tools |
| Dun & Bradstreet | gaining on | Incumbent corporate data giant described as slow to move rather than structurally blocked from entering Sayari's niche |
| S&P Global | gaining on | Adjacent incumbent with credit/corporate data assets, has not yet shipped a competing federal-grade product |
| Quantexa | contesting | Competing decision intelligence vendor across bank data silos per 2026 competitive landscape analysis |
Questions people ask
- Is Sayari profitable in 2026?
- Sayari has not disclosed profitability. The company self-reports reaching approximately $100 million in ARR as of May 2026, but this figure is unaudited and third party trackers like CB Insights show conflicting revenue data with no confirmed profit figures.
- Who owns Sayari?
- TPG Growth made an up to $228 million strategic majority investment in Sayari in January 2024, giving it a controlling stake, while founders and early investors retained a significant stake. Sayari then raised a $235 million Series D in June 2025.
- Could AI replace Sayari?
- Sayari argues no: its moat is proprietary primary-source data across 250+ jurisdictions, FedRAMP/SOC 2/GDPR certifications, and multi-year CBP and Treasury contracts since 2022 that generic AI vendors cannot replicate. Sayari itself is deploying AI via its July 2025 Mirato acquisition rather than being displaced by it.
- Who is Sayari's biggest competitor?
- Sayari's closest rivals are Kharon and Exiger, who partnered in 2024 on supply-chain risk, and Altana AI, a federated supply-chain ML company that reached unicorn status in 2024 and partnered with Kharon on forced-labor intelligence in June 2026.
- How much government business does Sayari have?
- Sayari reports 15+ U.S. government agencies as customers as of May 2026, including a $7.8M CBP contract and $8.5M Treasury IDIQ contract from 2022, plus an expanded multi-year CBP contract announced February 4, 2026.
- What is Sayari's revenue as of 2026?
- Sayari's own May 2026 About page states the company reached approximately $100 million in annual recurring revenue, self-described as built following Google's playbook. This is a company-reported figure not independently audited; third-party estimates vary widely.
Timeline
- 2026-04Integrated with Source Intelligence to trace forced-labor and sanctions exposure to individual parts
- 2026-02-04Secured expanded multi-year contract with U.S. Customs and Border Protection
- 2025-09-24Formed data partnership with SESAMm for AI-driven ESG risk data, covering 650,000+ suppliers
- 2025-07-28Acquired Mirato, an AI workflow automation firm for third-party risk management
- 2025-06-01Raised $235 million Series D funding round
- 2025-06Launched BIS50 Signal export-control screening module
- 2024-01TPG Growth made an up to $228 million strategic majority investment in Sayari
- 2022-07-28Awarded $8.5 million IDIQ contract with U.S. Treasury Department
- 2021-09Raised $40 million Series C led by Centana Growth Partners
- 2015-01-01Sayari Labs incorporated by Farley Mesko, Benjamin Power, and Eric S.S. Hoffmann
Revision history
21 July 2026
First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- About Sayari (2026-05-08)
- What is Brief History of Sayari Labs Company? (2026-03-15)
- Sayari Labs Secures $40M Series C
- TPG Announces $228 Million Strategic Growth Investment in Sayari
- Sayari Raises $235M in Series D Funding (2025-06-01)
- Sayari - Judgment Infrastructure for Trustworthy AI
- Sayari Awarded $7.8M Enterprise Trade Analytics Contract
- Sayari Awarded $8.5 Million Contract with U.S. Treasury (2022-07-28)
- Sayari Secures Expanded Contract with U.S. CBP (2026-02-04)
- Sayari Newsroom (2026-04-19)
- Sayari - Headcount, Funding & Open Jobs (2026-07-02)
- Sayari Acquires Mirato (2025-07-28)