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.”
About RegScale
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220802005229/en/
Contact information
Media:
Jason C. Werden
W2 Communications
301.346.7523
jason.werden@w2comm.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
Mundipharma acquires all assets and rights related to REZZAYO ® (rezafungin) , reinforcing continued commitment to management of infectious diseases and specialty care therapeutic area24.4.2024 22:01:00 CEST | Press release
Mundipharma* today announced the acquisition of all assets and rights related to rezafungin globally from Cidara Therapeutics. This provides Mundipharma with global ownership of rezafungin including ongoing development and distribution. Rezafunginis a novel once-weekly echinocandin indicated for the treatment of invasive candidiasis in adults.1 Invasive candidiasis, is a severe, life-threatening infection of the bloodstream and/or deep/visceral tissues.2,3 It affects seriously ill people, especially those with a weakened immune systemand the mortality rate can be 40%4 or more.5,6 It can place a large burden on the healthcare system, with the potential for extended treatment regimens and long hospital stays.6 Over the last 15 years, there have been no new treatments and morbidity and mortality rates remain largely the same, indicating the need for alternative treatment options.7,8 “This acquisition places Mundipharma in the best position to realise the full potential of rezafungin inclu
Global Oncology Innovator BeiGene Highlights New Data across Hematology and Solid Tumor Portfolio at 2024 ASCO Annual Meeting24.4.2024 22:01:00 CEST | Press release
BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global oncology company, today announced it will share research outcomes from its broad hematology and solid tumor portfolio at the American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, May 31 - June 4, 2024. “Our presentations at this year’s ASCO highlight the strength of our growing oncology portfolio and our commitment to developing treatments that address the unmet needs of patients with B-cell malignancies and solid tumors,” Mehrdad Mobasher, M.D., M.P.H., Chief Medical Officer, Hematology at BeiGene. “The exciting data we will share during ASCO showcase BRUKINSA’s uniquely differentiated clinical profile and add to the growing body of evidence supporting its role across the blood cancer treatment paradigm.” BeiGene will share new data for BRUKINSA (zanubrutinib), which add to the robust efficacy and safety evidence differentiating it within the BTK class. Key highlights include: A network meta-analysis co
TSMC Celebrates 30 th North America Technology Symposium with Innovations Powering AI with Silicon Leadership24.4.2024 21:30:00 CEST | Press release
TSMC (TWSE: 2330, NYSE: TSM) today unveiled its newest semiconductor process, advanced packaging, and 3D IC technologies for powering the next generation of AI innovations with silicon leadership at the Company’s 2024 North America Technology Symposium. TSMC debuted the TSMC A16TM technology, featuring leading nanosheet transistors with innovative backside power rail solution for production in 2026, bringing greatly improved logic density and performance. TSMC also introduced its System-on-Wafer (TSMC-SoW™) technology, an innovative solution to bring revolutionary performance to the wafer level in addressing the future AI requirements for hyperscaler datacenters. This year marks the 30th anniversary of TSMC’s North America Technology Symposium, and more than 2,000 attended the event, growing from less than 100 attendees 30 years ago. The North America Technology Symposium in Santa Clara, California kicks off TSMC Technology Symposiums around the world in the coming months. The symposiu
Rimini Street Appoints Steve Hershkowitz as Chief Revenue Officer24.4.2024 18:50:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products, and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced the appointment of Steve Hershkowitz as its new Chief Revenue Officer (CRO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424061249/en/ Rimini Street Appoints Steve Hershkowitz as Chief Revenue Officer (Photo: Business Wire) “Steve’s leadership and extensive experience scaling businesses to deliver top-line growth will expand our sales reach to capture new logos and increase our opportunity to provide even greater value to our clients,” said Rimini Street president and CEO Seth Ravin. “The global revenue team and I are excited to work closely together with Steve to drive growth and broader capabilities for our company.” Leading the Next Chapter of Sales Growth and Continued Success f
Hithium Hosts Roundtable at the BNEF Summit New York, Discussing Next Generation Battery Energy Storage System24.4.2024 18:00:00 CEST | Press release
From April 16th to 17th, the BloombergNEF (BNEF) Summit was held in New York, USA. The BNEF Summit brings together energy, finance, and technology professionals to facilitate the exchange of ideas, insights, and connections. This was Hithium's first time attending after its global launch in 2023. Hithium was also invited to host a roundtable discussion on the topic of "Next Generation Battery Energy Storage System: Latest Technology Trends and Impact on Project Economics," led by Hithium Director of Global Applications Engineering, Neil Bradshaw. The discussion focused on the future development trends of energy storage and included insights on Hithium's technology innovations, global application practices, and international development for global energy green transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423336349/en/ BNEF summit roundtable hosted by HiTHIUM (Photo: Business Wire) Hithium’s advantages on