ETtechVComply has raised $6 million in Series A funding from Accel and Counterpart Ventures, as the governance, risk and compliance (GRC) management platform looks to grow in the United States and expand into new markets in Europe.
The Palo Alto and Kolkata-based company plans to utilise the capital to hire in the US and open offices in Europe, apart from develop its product further, which is targeted at the mid-market but has found acceptance from enterprise customers as well.
“Our team has been heads down on product development for the past year, continuing to develop our next-gen solution to a long-time problem of managing GRC,” said Harshvardhan Kariwala, founder and CEO of VComply.
VComply’s solution helps companies streamline not only their regulatory but also internal compliances and is being pitched as a product that can help customers solve complexities arising from increased privacy regulations across the globe.
“In the rapidly growing GRC management landscape, VComply's solution stands out by providing a cloud-based solution that enables robust self-serve risk management while also being easy to use,” said Dinesh Katiyar, partner at Accel.
According to the company, the market for GRC is expected to reach around $61 billion by 2025. VComply raised $2.5 million in seed funding led by Accel in mid-2019.
The Palo Alto and Kolkata-based company plans to utilise the capital to hire in the US and open offices in Europe, apart from develop its product further, which is targeted at the mid-market but has found acceptance from enterprise customers as well.
Founded in early 2019, VComply has been able to garner 45 customers till date, including some very large enterprises such as Costa, TLS Contact, and CHD.
“Our team has been heads down on product development for the past year, continuing to develop our next-gen solution to a long-time problem of managing GRC,” said Harshvardhan Kariwala, founder and CEO of VComply.
VComply’s solution helps companies streamline not only their regulatory but also internal compliances and is being pitched as a product that can help customers solve complexities arising from increased privacy regulations across the globe.
“In the rapidly growing GRC management landscape, VComply's solution stands out by providing a cloud-based solution that enables robust self-serve risk management while also being easy to use,” said Dinesh Katiyar, partner at Accel.
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According to the company, the market for GRC is expected to reach around $61 billion by 2025. VComply raised $2.5 million in seed funding led by Accel in mid-2019.
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