INSUBCONTINENT EXCLUSIVE:
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 funding will be used to acquire more customers in the United States, open a new office in the United Kingdom to support customers in
Europe and expand its presence in New Zealand and Australia.The company was founded in 2016 by CEO Harshvardhan Kariwala and has customers
It currently claims about 4,000 users in more than 100 countries
VComply is meant to be used by all departments in a company, with compliance information organized into a central dashboard.While there are
already a roster of governance, risk and compliance management solutions on the market (including ones from Oracle, HPE, Thomson Reuters,
deployment (the company claims customers can on-board and start using the solution for compliance tasks in about 30 minutes)
It also seeks out smaller companies whose needs have not been met by compliance solutions meant for large enterprises.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
After talking to other entrepreneurs, he realized compliance posed a challenge for most of them
After getting good feedback, Kariwala realized that despite the many governance, risk and compliance management solutions already on the
market, there was still a gap in the market, especially for smaller businesses.VComply is designed so organizations can customize it for
learning curve and entail a prolonged deployment
It is particularly the SMB sector that suffers the most
With the current solutions costing thousands of dollars (and sometimes millions), it becomes the least of their priorities to invest in a
However, the modern enterprise needs to govern its operations to maintain integrity and trust, and monitor internal and external risks to
