Risk and compliance management platform VComply has raised a $2.5 million seed round led by capital firm Accel Partners, according to report from TechCrunch.
The fund will be used to acquire more customers in the US, gain more presence in New Zealand and Australia, and open an office in the UK to support its customers in Europe.
VComply, which has approximately 4,000 users in more than 100 countries, also plans on creating new risk and compliance solutions especially for small companies whose needs have not been met by compliant solutions meant for bigger corporations.
“Most of the traditional GRC solutions that exist today are expensive, have a steep learning curve and entail a prolonged deployment. Not only are they expensive, they are also rigid, which means that organizations have little to no control or flexibility,” Harshvardhan Kariwala, CEO at VComply, told TechCrunch.
Accel Partners said in a press release that modern enterprises should maintain integrity and trust as well as monitor internal and external risks to stay successful.
“The modern enterprise needs to govern its operations to maintain integrity and trust, and monitor internal and external risks to stay successful,” said Dinesh Katiyar, partner at Accel. “That is where VComply shines, and we’re delighted to be partnering with a company that can redefine the future of enterprise risk management.”
