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Compliance automation startup Sprinto raises $20 Mn led by Accel

EntrackrEntrackr ยท 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.

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Testsigma raises $8.2 Mn led by MassMutual Ventures

EntrackrEntrackr ยท 1y ago
Testsigma raises $8.2 Mn led by MassMutual Ventures
Medial

AI-based low-code test automation platform Testsigma has raised $8.2 million in funding led by MassMutual Ventures, along with existing investors Accel, STRIVE, and BoldCap. Earlier, in 2022, Testsigma raised $4.6 million led by Accel, with participation from STRIVE and BoldCap. Founded in 2019 by Rukmangada Kandyala, Pratheep Velicherla, Vikram Chaitanya, and Rajesh Reddy, Testsigma is a Gen AI-powered, low-code test automation platform that helps quality engineering teams to automate tests at speed and scale without coding expertise. The platform helps users to rapidly create, organise, and run automated tests for web and mobile applications, as well as APIs, using plain English through to its NLP (Natural Language Programming) engine. Its clientele includes Sage, HPE, Netgear, HDFC Life, IEEE, SignEasy, American Psychological Association, and Mehilรคinen.

B2B robotics maker Haber raises $44 Mn in Series C round

EntrackrEntrackr ยท 9m ago
B2B robotics maker Haber raises $44 Mn in Series C round
Medial

Industrial robotics maker Haber has raised $44 million in its Series C round led by Creaegis, BEENEXT, and Accel. The round comprised $38 million in equity and $6 million in debt. Entrackr had exclusively reported the Series C round in October. The proceeds will be used to scale its operations internationally, particularly in the US, to serve the demand for AI-led industrial automation solutions. Founded by Raghavan, Arjunan PN, and Priya Venkat, Haber develops AI-powered industrial robots that automate labor-intensive tasks like sample collection, measurement, analysis, and intervention in factories. According to its website, Haber helps industries reduce chemical consumption as well as energy and water usage across sectors such as food and beverages, agriculture, and oil and gas. The company has raised over $70 million to date, including a $20 million Series B round led by Ascent Capital with participation from Accel, Elevation, and Beenext in November 2021. Accel is the largest external stakeholder with an 18.1% stake, followed by Creaegis and Elevation. Head to TheKredible for the complete shareholding breakup. While FY24 numbers are yet to be disclosed, Haber reported a total revenue of Rs 82 crore and a loss of Rs 36.7 crore in FY23. It directly competes with Prosus-backed Detect Technologies, Altizon, and Fero Labs, among others. Haber counts ITC, Aditya Birla, and Tata Steel among its clientele. Some of its portfolio includes automation services for chemical dosing across different applications, including sugar mills, distilleries, paper mills, breweries, independent institutions, and mining operations.

BPR Hub raises $2.6 Mn led by Accel and Kae Capital

EntrackrEntrackr ยท 8m ago
BPR Hub raises $2.6 Mn led by Accel and Kae Capital
Medial

BPR Hub raises $2.6 Mn led by Accel and Kae Capital BPR Hub, a San Francisco and Bengaluru-based AI-powered compliance management platform for manufacturers, has closed its $2.6 million seed funding round, co-led by Accel and Kae Capital. The funds will be used to scale globally, expand the team, and enhance product features to meet the rising demand for compliance management. Prominent angel investors in manufacturing also participated, positioning the company for rapid growth in India and North America. Founded in 2024 by Teja Edara (CEO), Milanjeet Singh (COO), and Vinodh Peddi (CTO), BPR Hub was created to address key challenges in compliance. With over a decade of experience in manufacturing and compliance, Milanjeet Singh's firsthand insights drove the development of a platform to streamline compliance management for manufacturers. BPR Hub's platform automates up to 80% of quality, compliance, and governance tasks, cutting certification time by 40%. It effectively tackles key challenges faced by small and medium manufacturers in a complex regulatory environment. Through automated evidence evaluation and continuous monitoring, BPR Hub helps companies fast-track certification โ€“ turning a process that typically takes months into one that takes weeks. The platform streamlines the management of overlapping certification requirements, eliminating duplication and ensuring nothing falls through the cracks. BPR Hub streamlines manufacturing by integrating quality assurance, production control, inventory, and asset management into a single platform. This ensures seamless compliance management, allowing teams to focus on growth.

Zepto ranks first in LinkedInโ€™s 2024 list of Indiaโ€™s top startups | Mint

LivemintLivemint ยท 11m ago
Zepto ranks first in LinkedInโ€™s 2024 list of Indiaโ€™s top startups | Mint
Medial

Quick commerce platform Zepto has secured the top spot in the LinkedIn Top Startups India List 2024 for the second consecutive year. The annual ranking considers factors such as employment growth, engagement, job interest, and attraction of top talent. Compliance firm Sprinto and cloud storage management platform Lucidity followed Zepto in second and third place respectively. The ranking reflects India's thriving entrepreneurial ecosystem, particularly in Bengaluru, with 14 out of the 20 startups being new entrants to the list. The inclusion of first-time categories, such as biofuel, compliance, and mental health, demonstrates the diverse career opportunities within the startup sector.

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