VComply raises $2.5 million seed round led by Accel to simplify risk and compliance management –

Funding Rounds

▤ Summary

Risk and compliance management platform VComply announced today that it has picked up a $2.5 million seed round led by Accel Partners for its international growth plan. The company was founded in 2016 by CEO Harshvardhan Kariwala and has customers in a wide range of industries, including Acreage Holdings, Ace Energy Solutions, CHD, the United Kingdom’s Department of International Trade and Burger King. While there are already a roster of governance, risk and compliance management solutions on the market (including ones from Oracle, HPE, Thomson Reuters, IBM and other established enterprise software companies), VComply’s competitive edge may be its flexibility, simple user interface and easy deployment (the company claims customers can on-board and start using the solution for compliance tasks in about 30 minutes). Kariwala told TechCrunch in an email that he began thinking of creating a new risk and compliance solution while working at his first startup, LIME Learning Systems, an education management platform, after being hit with a $4,000 penalty due to a non-compliance issue. However, the modern enterprise needs to govern its operations to maintain integrity and trust, and monitor internal and external risks to stay successful.

$ Funding

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Amount $2.5M Total raised
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Date July 19, 2019 Announcement date
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Investors Accel Lead investors
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Company http://www.v-comply.com Funded company

▥ Classifications

industries
No industries detected
applications
Accounting and Taxes

◇ AskAI Classifications

Labels
Governance Risk and Compliance Software SaaS

▦ Linked Companies