Compliance-as-a-Service platform Laika this week announced that it has raised $35 million in Series B funding, which brings the total raised by the company to $48 million.
The new funding round was led by J.P. Morgan Growth Equity Partners. All previous investors participated as well, including Canapi, Dashfund, Bain Capital Ventures, Nyca, and ThirdPrime.
Laika says it will use the funds to build additional automation, to add audit experiences to its platform, and to invest in growth and market momentum.
The New York-based company seeks to help organizations meet regulator and customer requirements through establishing robust compliance practices. Laika’s solution delivers audits, automated infosec workflows, and monitoring.
Laika was founded in June 2019 by Austin Ogilvie, Sam Li, and Eva Pittas. The company has reported significant year-over-year growth in terms of revenue and customers.
“Compliance is very complex with many nuances across geographic and industry lines. This amounts to an untenable operating environment for virtually all software companies who lack the domain expertise to understand all compliance requirements let alone the ability to satisfy them all. The opportunity to help customers overcome these challenges is really exciting to us,” Ogilvie said.
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