NEW YORK, Nov. 8, 2022 — Laika, the industry’s first holistic compliance platform, said today that it has concluded a USD 50 million Series C investment round headed by Fin Capital, with participation from new investor Centana Growth Partners as well as current investors J.P. Morgan Growth Equity Partners, Canapi, and ThirdPrime.
The increased capital will help Laika continue to create new products while also boosting sales, marketing, and strategic collaborations. Laika’s total funding now stands at USD 98 million, thanks to the Series C round.
Christian Ostberg, Partner at Fin Capital and the lead investor in Laika’s Series C:
“By delivering the only comprehensive, centralized compliance platform, Laika has filled a unique vacuum in the fast-increasing compliance automation and audit management industry. Laika has established itself as the obvious industry leader shaping this fast-growing area by combining automation of InfoSec procedures with integrated, tech-enabled audits.”
Laika increased their active user base by more than 1000% in the previous year and increased its personnel headcount by 50% to support adoption and growth. 87% of Laika clients choose a subscription plan that includes a comprehensive IT audit, demonstrating the value proposition’s attractiveness to customers. Laika clients conduct SOC 2 audits 60% faster than the industry average.
Eric Byunn, Partner at Centana Growth and a new investor in Laika’s Series C:
“Centana has been closely studying various methods in governance, risk, and compliance GRC for decades to find the future generation of security compliance. In a market dominated by check-the-box solutions, Laika’s platform, which delivers a seamless end-to-end compliance management and audit experience, stands out.”
Austin Ogilvie, co-CEO of Laika, stated:
“As a two-time entrepreneur, I’ve seen digital compliance become a severe roadblock for founders and innovators. Beyond roadblocks are possible hazards, such as serious financial, reputational, and criminal fines. This funding allows us to dial-up our partnerships and platform strategy, grow our sales organization, and invest in marketing to broaden our audience reach and, ultimately, enable more customers to achieve these critical compliance objectives.”
Laika provides end-to-end software and services to help organizations simplify and automate SOC 2, ISO 27001, GDPR, HIPAA, and other information security compliances. Through solutions for certification and attestation, security questionnaires, audit management, and continuous compliance monitoring, you can grow quicker, develop confidence, and adopt scalable security processes.
Austin Ogilvie and Sam Li, two-time founders and Y Combinator grads, co-founded Laika, as did industry veteran Eva Pittas. The latter led global risk and compliance responsibilities at Citigroup for 20 years.
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