RegScale Announces $20 Million Series A Funding Round
RegScale, a leading continuous compliance automation software company with headquarters in Tysons Corner, VA and research and development in Knoxville, TN, today announced the completion of a $20 million Series A funding round. This funding round was led by SYN Ventures with participation from SineWave Ventures, VIPC’s Virginia Venture Partners, SecureOctane and several strategic investors.
The funding will primarily be used to drive sales and marketing initiatives initially targeted in the company’s three primary markets—government, financial institutions, and energy and utilities—and accelerate product development to meet the needs of customers globally.
“RegScale is leading the way in ‘shifting left’ compliance to accelerate digital transformation programs, reduce risk, and lower the costs of manual compliance documentation while delivering rapid time-to-value which our customers are demanding,” said Anil Karmel, co-founder and chief executive officer, RegScale. “As such, we are launching the ‘RegOps’ [Regulatory Operations] Movement to help heavily regulated organizations evolve and improve compliance and trust at a faster pace than organizations using traditional compliance artifact development and compliance management processes.”
Since the company launched 8 months ago, RegScale has recorded triple digit revenue growth with nearly 8,000 downloads of its freemium Community Edition platform and signing more than a dozen major customers for its Enterprise Edition platform. This new round of funding will also allow the company to expand operational support to meet growing customer demand.
“Cyber compliance has become a $10.5 trillion existential challenge, and major industry trends in technology are focused on new and innovative approaches to solve this complex and evolving dilemma for heavily regulated organizations,” said Art Coviello, Jr., investment committee chairman, SYN Ventures, and RegScale board member. “SYN Ventures exists to empower companies like RegScale that are succeeding in creating transformational and disruptive solutions that significantly reduce technology and compliance risk.”
RegScale formally launched in November 2021 as an offshoot of digital transformation services company C2 Labs, to help organizations in heavily regulated industries continuously manage the massive year-over-year growth in their compliance burden. The company’s continuous compliance automation platform moves organizations from manual compliance approaches and processes to an API-centric, automated approach. Their next generation Governance, Risk and Compliance (GRC) platform integrates with existing security and compliance platforms, delivering evergreen compliance documentation while simultaneously visualizing compliance and operational risk to decision makers in real-time.
“At RegScale we believe that maintaining compliance as a business should be affordable, transparent, and easy,” said Travis Howerton, co-founder and chief technology officer, RegScale. “That is why we are dedicated to ensuring that our entire customer base is able to continuously comply with multiple requirements leveraging a scalable platform that can meet the needs of the entire organization, no matter the sector or industry.”
Founded in 2021, RegScale delivers continuous compliance automation for heavily regulated industries, freeing organizations from paper via its security and compliance automation software. Through its Continuous Compliance Automation platform, RegScale is designed to meet any regulatory requirement with 70+ compliance requirements such as NIST, ISO, SOX, CMMC, and NERC-CIP supported out of the box and the ability for RegScale to digitize any regulation in under a week. For more information, visit: https://www.regscale.com/.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Jason C. Werden
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Esri COP28 LinkedIn Livestream Featuring: City of Sydney, Australia11.12.2023 18:01:00 CET | Press release
Esri: Date: Thursday, December 14, 2023 Time: 3:00 p.m. PST/6:00 p.m. EST Register Here Moderator: Brett Dixon, Esri Asia Pacific Spatial Industry Specialist & Business Leader Panelists: Matt Sund, City of Sydney Spatial Information Services Manager Karen Sweeney, City of Sydney Urban Forestry Manager Esri, a world leader in Geographic Information Systems (GIS) software solutions, is hosting a LinkedIn livestream on Thurs., December 14 featuring the City of Sydney, Australia. During the livestream, leaders from the City of Sydney will discuss their novel approach to advancing tree equity, no matter where their citizens live, along with increasing biodiversity in trees and the wildlife that rely on them. Rapid growth in greater Sydney has resulted in the loss of biodiversity and green, shady places. In the past decade, more than half of greater Sydney’s neighborhoods have lost urban forest cover, as experts warn that suburbs lacking sufficient tree cover may become unlivable. Now, the s
Obsidian Security Recognized as Strong Performer by Independent Research Firm11.12.2023 17:18:00 CET | Press release
We’re thrilled to share that Obsidian Security has been named a Strong Performer while receiving the highest scores possible across five criteria in The Forrester Wave™: SaaS Security Posture Management, Q4 2023 – the first Forrester Wave(™) report to be released in the SaaS Security and Posture Management (SSPM) category. Forrestergave the Obsidian Posture Management module the highest scores possible in the configuration drift detection and SaaS app configuration templates criteria. Additionally, the Obsidian Integration Risk Management module received the highest possible score in the connected apps criterion. Forrester also gave Obsidian the highest score possible in the IAM administration criterion supported by Obsidian Advanced Threat Mitigation module. The Forrester report recognized Obsidian as a vendor providing “a single, modular platform” for SaaS Security and Posture Management. The Obsidian Advanced Threat Mitigation module covers authentication monitoring and remediation,
Transition Industries LLC and Macquarie Group Announce Marketing Agreement for Low Carbon Methanol Project in Sinaloa, Mexico11.12.2023 15:13:00 CET | Press release
Transition Industries LLC announced at COP 28 that it has entered into a Master Services and Marketing Agreement (MSMA) with Macquarie Commodities Trading, an affiliate of Macquarie Group’s Commodities and Global Markets business (“Macquarie” / “CGM”), for its Pacifico Mexinol project, a 6,145 MT per day methanol production facility near Topolobampo, Sinaloa, Mexico (“Pacifico Mexinol” or the “Project”). When it commences operations, Pacifico Mexinol is expected to be one of the largest single low carbon chemicals facilities in the world - producing approximately 300,000 MT of green methanol from captured carbon and green hydrogen and 1.8 million MT of blue methanol per year from natural gas with carbon capture. Under the terms of the MSMA, Macquarie is responsible for marketing all the production from Pacifico Mexinol to customers on a global basis in accordance with methanol offtake agreements, the provisioning of financial hedging services as required by the Project, and supporting
New Post Hoc Analysis from MAVORIC Trial Sheds Light on the Burden of Cutaneous T-Cell Lymphoma on Health-Related Quality of Life11.12.2023 15:00:00 CET | Press release
Kyowa Kirin International (KKI), a wholly owned subsidiary of Kyowa Kirin Co. Ltd, today announced health-related quality of life (HRQL) findings from a post hoc analysis of the MAVORIC trial in patients with mycosis fungoides (MF) or Sézary syndrome (SS), two subtypes of cutaneous T-cell lymphoma (CTCL). Researchers analysed baseline data collected prior to initiation of study treatment and found the symptoms of advanced MF/SS affected HRQL across all domains, with poorer HRQL associated with being younger in age, female, having moderate or severe itching, and impaired function as measured by the Eastern Cooperative Oncology Group performance status (ECOG PS). “CTCL is a chronic, life-long condition. Understanding how symptoms impact an individual physically, emotionally as well as in their daily life is critical,” said Susan Thornton, Chief Executive Officer, Cutaneous Lymphoma Foundation and one of the study authors. “The data provide new insights into the burdens of living with CTC
Battery Manufacturer Hithium Opens New 28 GWh Intelligent Production Plant11.12.2023 15:00:00 CET | Press release
Stationary energy storage expert Hithium will release 28 GWh planned production capacity successively at first stage of Phase 1 of its new base in Chongqing, China. The new plant is designed in line with "Intelligent Manufacturing 4.0" standards, including a 26% increase in automation over the typical "Intelligent Manufacturing 3.0" production system. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231211098435/en/ Hithium Chongqing production plant (Photo: Business Wire) Hithium’s automation gains at Chongqing have resulted in an overall efficiency jump of 30%, as well as cost reductions amounting to a quarter of production overhead, delivering a significant lead in manufacturing competitiveness. Built with an investment of RMB13 billion ($1.8 billion), the site covers 800,000 m2 and is located in the Tongliang high-tech zone. The new capacity aims at helping to meet global demand for what is expected to be 720GW of energy s
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom