Richa Kaul says she’s a bit of a data privacy nut. At parties, for example, she’s the one helping people with their phone privacy configurations. “It got to a point where I realized the best way to actually protect consumer data is to help secure the enterprises that hold the world’s data.”
So she launched a company called Complyance to do just that. On Wednesday, the company announced a $20 million Series A led by GV. Complyance is an app that companies integrate into their existing tech stack. It uses AI agents to help them manage governance, risk, and, well, data compliance.
“The AI basically automates a number of manual tasks,” Kaul said. “It uses AI to do custom checks on data coming in against their own specific criteria and risk thresholds.” The AI then flags any risks that need review.
These risk reviews can take weeks or months when done manually. It’s a standard audit-based process that happens perhaps once a year or once a quarter, where teams will run a check on their organization. Tools like Complyance hope to make this process more efficient by using technology to run continuous checks in seconds, so companies never have to wonder if they are in data compliance. It also has an agent that assesses the risk of any third-party vendors.
“We’re trying to redefine what enterprise GRC teams spend their time doing right now,” she said, adding that it’s usually chasing down mundane tasks. GRC refers to general, risk, and compliance.
Others in the market include Archer, ServiceNow GRC, and OneTrust. She said her company differs from incumbents because it is AI-native, rather than layering AI features on top.
Kaul declined to say how many customers the company has, but noted that it works with a few Fortune 500 companies. Complyance has raised $28 million in funding to date. Though the company came out of stealth in 2023, its first product didn’t go to market until the end of 2024. Kaul called fundraising “kind of a fairy tale,” because GV actually approached her.
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“They’ve been looking for an enterprise-grade AI-led product in the space that was winning over enterprise clients, and we were doing that,” Kaul said. Others in this latest Series A round include Speedinvest, Everywhere Ventures, and angel investors from Anthropic and Mastercard.
The fresh capital will be used to help with go-to-market expansion, Kaul said. She wants to release 30 more purpose-built agents on top of the 16 the product already has. The goal is to help make the lives and work of GRCs much easier. After all, they didn’t sign up to chase down mundane tasks.
“They signed up to help protect their businesses and help protect their business customers,” she said. “By redefining some of those workflows and redefining how work gets done, we’re able to unblock them to help them focus on those strategic priorities.”