In a significant boost to the Governance, Risk, and Compliance (GRC) sector, Sprinto has announced a $20 million Series B funding round, led by Accel, with contributions from Elevation Capital and Blume Ventures. This investment brings Sprinto's total funding to $31.8 million, earmarked for advancing research and development in intelligent automation and AI, and for expanding its global footprint. The move highlights the increasing demand for automated solutions that can streamline compliance processes, reduce manual workload, and mitigate security risks effectively.
Sprinto's platform leverages AI to integrate with a company's existing processes, creating intelligent workflows that offer a comprehensive view of assets, risks, controls, and compliance. This innovative approach not only simplifies compliance management but also enhances operational efficiency and security. Founded in 2020 by Girish Redekar and Raghuveer Kancherla, Sprinto addresses the founders' firsthand experiences with the cumbersome nature of compliance in their previous venture, Recruiterbox. Their solution is designed to eliminate the tedious manual work associated with compliance, allowing businesses to focus on their core operations.
The GRC market is on a rapid growth trajectory, with projections suggesting an increase from $54.61 billion in 2023 to $134.86 billion by 2030, according to Grandview Research. Sprinto's automation-first platform positions it as a key player in this expanding market. Girish Redekar, co-founder and CEO of Sprinto, emphasizes the critical role of trust in business transactions and how removing barriers to establishing trust can accelerate B2B commerce growth. Feedback from customers like Alessio Panni of Prometeia further validates Sprinto's impact, highlighting its role in enhancing client asset protection and achieving compliance goals more efficiently.
For businesses navigating the complexities of compliance and risk management, Sprinto's advancements offer a promising solution. By harnessing the power of AI and automation, Sprinto not only addresses current challenges but also sets a new standard for the future of GRC solutions. More information on Sprinto's innovative platform can be found at https://www.sprinto.com.
