Enterprise governance, risk management and compliance (GRC) solutions provider Anecdotes this week announced raising $25 million in a Series B funding round.
The latest funding, which brings the total investment in the company to $55 million, was led by Glilot Capital Partners, with participation from Red Dot Capital Partners, Vintage Investment Partners, and Shasta Ventures.
Anecdotes previously raised $25 million in Series A funding in 2022, which it used to improve its product’s capabilities and for the company’s expansion. The latest funding will be used to continue enhancing its products and to fuel its expansion in the US and the EMEA and APAC regions.
The startup’s Compliance OS product automatically collects data from cloud, on-premises, and SaaS systems with the goal of making it easier for organizations to achieve compliance, risk and auditing requirements.
The platform supports more than 120 integrations with identity, security, collaboration, ticketing, and cloud infrastructure solutions.
Anecdotes was founded in 2020 and has offices in the United States and Israel. The company claims its annual recurring revenue has increased significantly as a result of the expansion of its customer base in the United States, which now includes organizations such as Lifelabs, Snowflake, Coinbase, Aristocrat, SoFi, Grafana, and Payscale.
“At Snowflake, by leveraging anecdotes’ compliance technology we unlocked data sets that can now be utilized in our compliance program enhancing efficiency and continuity. Their platform’s ability to integrate seamlessly with our existing tools and bring credible data sets has been invaluable,” said Mario Duarte, VP of security at Snowflake.