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Compliance Automation Startup RegScale Scores $20 Million Funding

By Ryan Naraine on August 03, 2022

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RegScale, a Virginia startup constructing expertise to handle steady compliance automation duties, has attracted $20 million in early-stage enterprise capital funding.

The Collection A spherical was led by SYN Ventures with participation from SineWave Ventures, VIPC’s Virginia Enterprise Companions and SecureOctane.

RegScale, which maintains headquarters in Tyson’s Nook, Virginia, sells expertise that helps regulated companies automate the gathering, compilation, and reporting of knowledge associated to compliance obligations. 

Since its launch eight months in the past, RegScale mentioned it has recorded vital income development with almost 8,000 downloads of its freemium Group Version platform and signing up greater than a dozen main prospects for its Enterprise Version platform. 

The corporate mentioned the brand new financing will probably be used to drive gross sales and advertising initiatives in three key markets the place organizations face heavy rules  – authorities, monetary establishments, and power and utilities –  and pace up analysis and growth operations.

RegScale formally launched final November 2021 as an offshoot of C2 Labs to assist organizations in closely regulated industries constantly handle compliance-related duties. 

Associated: Compliance Startup Trustero Closes $Eight Million Funding Spherical

Associated: Drata Scores $100M Funding for Safety and Compliance

Associated: Theta Lake Raises $50 Million in Collection B Funding Spherical

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