New York-based governance, risk and compliance (GRC) solutions provider Compyl on Wednesday announced raising $12 million in a Series A funding round.
The round was led by Venture Guides, with participation from Contour Venture Partners, Armory Square Ventures, nvp capital, Alpine Meridian Ventures, Brooklyn Bridge Ventures, and Zelkova Ventures.
The money will be used by Compyl to enhance its GRC platform, expand its team, and for go-to-market initiatives.
Compyl has developed a platform that provides GRC and security teams with real-time insights that they can use to maintain compliance and address vulnerabilities.
The platform provides solutions for compliance, asset management, contract management, policy management, user access reviews, and risk management (including vendor risk).
The company plans on introducing security questionnaire automation and trust center capabilities soon.
“Mid-market enterprises grapple with rising regulations, auditor scrutiny, data growth, cross-functional coordination, and expanding vendor networks—all escalating compliance and security risks,” said Anton Simunovic of Venture Guides. “Customers love how Compyl uniquely ingests and correlates all relevant data, automating workflows to save time and proactively mitigate risks.”
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