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Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed

IndianStartupNewsIndianStartupNews · 1y ago
Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed
Medial

Cybersecurity asset management and SaaS management startup, Axonius, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. The funding will be used to support the company's global expansion and innovation in response to the increasing demand for its platform. Axonius provides a unified platform for managing digital infrastructure components, boasting over 1,000 platform integrations and offering a comprehensive view of assets, relationships, and business context. The company recently launched its Axonius 6.0 platform, which combines Cyber Asset Attack Surface Management, SaaS Security Posture Management, and SaaS Management Platforms.

Compliance automation startup Sprinto raises $20 Mn led by Accel

EntrackrEntrackr · 1y ago
Compliance automation startup Sprinto raises $20 Mn led by Accel
Medial

Sprinto, a compliance automation platform for SaaS companies, has secured $20 million in Series B funding round led by Accel along with participation from existing investors Elevation Capital and Blume Ventures. With this, the Bengaluru and San Francisco-based firm has raised a total of $31.8 million to date including a $10 million Series A round in February 2022. The funds will be used for R&D with a focus on intelligent automation and AI, and expansion into new markets, Sprinto said in a press release. Launched in mid-2021 by Girish Redekar and Raghuveer Kancherla, Sprinto helps SaaS companies obtain compliances, such as SOC 2, ISO27001, GDPR and HIPAA in a quick and hassle-free manner. Sprinto helps clients create a real time monitoring system that provides visibility into the processes and policies governed by compliance checklists, and tracks the status of these systems. According to the company, it has amassed more than 1,000 customers and extended its reach to over 75 countries. Majority of its client base are in the US and Europe. It also claimed to have three-fold growth in 2023. Though, the company did not disclose other financial details. In global markets, it competes with the likes of Vanta and Drata. Last week, compliance automation platform Scrut Automation announced that it raised $10 million in a Series A round. Entrackr exclusively reported the development in February.

SaaS startup Rocketlane raises $24 Mn led by 8VC, Matrix and Nexus

EntrackrEntrackr · 1y ago
SaaS startup Rocketlane raises $24 Mn led by 8VC, Matrix and Nexus
Medial

SaaS startup Rocketlane has raised $24 million in its Series B funding round co-led by 8VC, Matrix Partners India and Nexus Venture Partners. Back in January 2022, Rocketlane scooped up $18 million in Series A round while the firm snagged a $3 million in seed round in June 2021. The new funding will push Rocketlane’s AI roadmap which includes development of advanced features and capabilities for project delivery, the company said in a press release. As part of its growth strategy, Rocketlane has also announced the appointment of Rao Adavikolanu as Chief Marketing Officer (CMO). Rao’s expertise will be instrumental in driving the firm’s market presence and strategic initiatives. Previously, he was the CMO of San Francisco-based Pilot.com. Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar and Deepak Bala, Rocketlane offers a purpose-built unified workspace for collaborating with customers for onboarding projects. It helps businesses shorten their time-to-value, streamline their software implementation, and provide real-time visibility. Previously, the trio built an in-app messaging startup FreshChat that was acquired by NASDAQ-listed SaaS firm Freshworks in 2015. Besides India, it has presence in the US and Europe. Rocketlane currently has 500 paying customers globally and the US contributes 30% to the company’s total revenue. Over the last year, Rocketlane claims to have tripled its revenue and reached over 500 customers, including enterprise companies that have switched to Rocketlane from legacy Professional Services Automation (PSA) tools. The company’s customers include Chargebee, Pando, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore.

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