Compliance automation platform Sprinto, raised $10 million in Series A led by Elevation Capital where Accel and Blume Ventures also participated.
The company provides a compliance automation platform that enables SaaS companies to quickly and easily obtain compliances such as SOC 2, ISO27001, GDPR, HIPAA, and others. The funds will be used to expand the team across key functions and for R&D to ensure long-term growth. Sprinto has expanded rapidly, more than doubling its ARR (annual recurring revenue) in the last ten weeks alone. Despite competition from a few emerging US companies, Sprinto can brag about enterprise clients such as HP and Hackerrank.