10 April 2024 – With participation from current investors Elevation Capital and Blume Ventures, Accel led the $20 million Series B fundraising round for Sprinto, a compliance automation platform for SaaS firms. This brings the total amount of money received by the San Francisco and Bengaluru-based Company to $31.8 million, which includes a $10 million Series A round that was completed in February 2022.
According to a press statement from Sprinto, the money will be used for R&D, with an emphasis on intelligent automation and AI and market growth.
Girish Redekar and Raghuveer Kancherla founded Sprinto in mid-2021 to assist SaaS firms in quickly and easily obtaining compliances like SOC 2, ISO27001, GDPR, and HIPAA. Sprinto assists customers in setting up a real-time monitoring system that tracks the systems’ state and offers insight into the procedures and guidelines regulated by compliance checklists.
Conclusion
The firm claims to have expanded to over 75 countries and acquired over 1,000 clients. Europe and the US account for the majority of its clientele. Additionally, it said that its growth will triple by 2023. However, the business withheld other financial information.
