US-based startup Kintent, the creator of the Trust Cloud compliance platform, raised US$ 4 million seed capital on 1 April 2021.
Investors: The funding round was led by Tola Capital. Other participants included experienced cloud, SaaS, security and legal experts – Jason Zander (EVP, Microsoft Azure), Chris Hecht (Head of Corporate Development, Atlassian), Carsten Thoma (former President, SAP Hybris), Jen Andre (VP of Product, Rapid7), Bob Brennan (former CEO, Veracode) and Cooley.
Kintent’s first product – the Trust Cloud, democratizes every company’s ability to seamlessly and cost-effectively set up, test and get audited for security and compliance certifications, respond to security questionnaires and share its compliance program with enterprise customers. Its main goal is to make it easier for enterprises to earn trust in every business relationship. It makes compliance simpler to understand and achieve.
Today, enterprises are showing high demand for questionnaire-based security assessments and multiple compliance audit certifications from vendors. This is leading to significant delays in the sales process. After Kintent launched its Trust Cloud in October 2020, it experienced its growth rising to 6-figures in ARR in the first 4 months itself, as a result of the high demand from this market.
Some of its clients include Evisort, InsideTracker, MachineMetrics, Notarize, AtScale, Clipchamp, TetraScience, and Unibuddy. Trust Cloud allows them to accelerate sales by streamlining various time-consuming security and data privacy compliance workflows.
What the CEO has to say: “Anyone would agree that trust is the foundation of every business relationship. But why don’t we continuously measure and report on our compliance and trust obligations? It is simply too difficult, expensive and time-consuming to do so. We believe that’s an injustice, and we want to fix this. With Kintent, we will live in a world in which it is effortless to earn trust in every business relationship.” — Sravish Sridhar, Founder and CEO of Kintent.
What the investors have to say: “Several of our portfolio companies use Trust Cloud to transparently share their compliance and trust program in board meetings. We were impressed by the speed and always real-time view of the auto-generated compliance program offered by Kintent. Having seen businesses struggle to accelerate sales cycles as they tried to meet the hurdles of compliance audits and respond to security questionnaires, we immediately recognized the value of having an AI-enabled platform to unblock sales with a high-quality compliance program.” — Akshay Bhushan, Principal at Tola Capital.
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