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“Compliance-as-a-service” platform Laika has raised $35 million in a sequence B spherical of funding from lead investor J.P. Morgan Progress Fairness Companions, with participation from PayPal’s enterprise capital arm amongst different current buyers.
Based in 2019, Laika primarily helps smaller software program corporations go safety audits, which places them in a stronger place to draw bigger enterprise clients. That is significantly notable at a time when corporations are having to handle a rising financial institution of confidential knowledge whereas adhering to regional rules similar to GDPR and CCPA, or current industry-specific privateness rules.
Overcome compliance obstacles
Firms working in highly-regulated industries similar to well being, finance, or insurance coverage often have to satisfy the strictest of requirements to function legally. Furthermore, giant enterprises will seemingly solely wish to work with associate corporations that adhere to the related ISO or SOC commonplace for his or her {industry} — however attaining it is a lengthy and sophisticated course of. That is the place Laika enters the fray, combining automated info safety (InfoSec) workflows, audits, danger assessments, questionnaires, and “vendor due diligence” right into a single platform — which corporations pay for through a month-to-month subscription.
“Assembly compliance necessities for regulators or enterprise clients is usually a enormous impediment for startups with modern merchandise however small groups,” Laika chief working workplace (COO) Eva Pittas famous in a press launch. “By reworking compliance right into a frictionless, subscription-based digital expertise, Laika transforms compliance from a gross sales impediment right into a progress lever for front-line gross sales and enterprise improvement groups.”
Above: The Laika dashboard
The Laika platform comes with a bunch of pre-built integrations similar to AWS, GitHub, and Datadog, which is used as a part of the “evidence-gathering” course of that auditors sometimes have to confirm whether or not a enterprise is appropriately following all their InfoSec and privateness insurance policies.
Acknowledging that compliance can by no means actually be a completely automated endeavor, Laika additionally affords human subject-specific specialists that work in tandem with its clients to realize certification.
Laika had beforehand raised round $13 million, and with its newest money injection the corporate stated that it’s well-financed to construct out further automation options and combine additional audit-related tooling into its platform.VentureBeat
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