April 10, 2024 at 07:24AM
San Francisco-based risk and compliance platform provider Sprinto secures $20 million in Series B funding led by Accel, backed by Blume Ventures and Elevation Capital. Sprinto uses AI and automation to ensure organizations comply with regulations and privacy demands. The funding will drive research, development, and expansion into new markets, focusing on intelligent automation and AI.
From the meeting notes, the key takeaways are:
– Sprinto, an automated risk and compliance platform provider, has raised $20 million in Series B funding, bringing the total raised to $31.8 million.
– The investment round was led by Accel, with additional support from previous investors Blume Ventures and Elevation Capital.
– Founded in 2020, Sprinto aims to help organizations stay compliant with existing regulations and privacy demands by analyzing an organization’s processes to deliver an overview of their assets, controls, compliance, and risks.
– Sprinto’s solution is already used by thousands of customers in over 75 countries worldwide, across financial services, fintech, healthcare, and technology sectors.
– The new funding will allow Sprinto to boost research and development, focusing on intelligent automation and AI, and to expand to new markets.
– Sprinto co-founder and CEO Girish Redekar emphasized the importance of compliance in maintaining security, ensuring high operating standards, and building trust in B2B commerce.