Laika Earns $50 Million For Its Automated Security Compliance Platform
Summary
Today, Laika one of the larger startups offering tools to meet those compliance requirements is announcing $50 million in funding, underscoring the growth in this space.Laika will use the equity, a Series C, to further expand the functionality of its platform and the wider business funnel.Laika currently has about 500 customers, and that number has quadrupled in the last 12 months; and it offers integrations for some 100 different software packages to measure how customer compliance is stacking up, with tools such as integrated audits, penetration testing, and security questionnaires (used in RFPs and pre-contract due diligence).In an interview, Austin Ogilvie, co-founder and co-CEO of Laika, said the plan will be to expand both the number of customers and the number of resources Laika can tap into to measure data protection and other compliance metrics across its broader digital footprint. of an organization.Fin Capital leads this round, with new lenders Centana Growth Partners and previous investors JP Morgan Growth Equity Partners, Canapi and ThirdPrime all also participating, among others unnamed.Other notable past investors have included some very big names in the world of fintech, including PayPal, and fintech specialist VCs NYCA and Dash Fund a more complete list pointing to Laikas traction in financial services in particular.The financial industry has been a major user of compliance software for many years now for legal and business reasons. For a little more context, two of Laikas closest competitors in the world of data protection enforcement, Vanta and Drata, have each picked up rounds this year with a worth or just over $1 billion. Investors say that Laika named after the Russian dog, the first non-human to be sent into space, and a gentle nod to pioneering and exploration, Ogilvie said stands out for being one of the easier tools to adopt and regular. By combining the automation of InfoSec workflows with the integrated, technically backed audits, Laika has established itself as the clear industry leader shaping this fast-growing category.