VComply, a leading GRC management platform, announced today it has secured $2.5 million in a seed funding round led by Accel, which will help further product development as well as global expansion plans. While the company already has a global presence with offices in the US and abroad, it is also currently in the process of developing a European office in the UK to support a growing local clientele on the ground. With this additional capital, VComply will continue building its future-forward solution and expand its presence in Europe to empower organizations with the value of holistic GRC management.
VComply provides a comprehensive cloud-based governance, risk and compliance (GRC) solution that streamlines operations management, third party management, auditing and regulations requirements such that organizations have complete control over their governance needs. Since launching in early 2016, over 4,000 users across 100 countries have started using VComply’s platform for GRC management. Clients span a wide array of verticals and include Acreage Holdings, Ace Energy Solutions, CHD, Department of International Trade (United Kingdom) and Burger King among many others.
Harshvardhan Kariwala, founder and CEO of VComply, said: “As GRC management has gained more widespread awareness and adoption, organizations are now seeing the value of leveraging a comprehensive and cloud-based solution to solve their needs. We are building a platform which revolves around the overall governance of an organization and not just one specific area. Our constant drive for sustainable innovation is what has pushed us and enabled us to come this far. We’re continuously brainstorming ways in which we can simplify, streamline and synchronize workflows, and strengthen the governance of an organization.”
Dinesh Katiyar, Partner at Accel said: “The first generation of GRC solutions primarily allowed companies to comply with industry-mandated regulations. However, the modern enterprise needs to govern its operations to maintain integrity and trust, and monitor internal and external risks to stay successful. This is where VComply shines, and we’re delighted to be partnering with a company that can redefine the future of enterprise risk management.”
VComply provides a powerful solution set that standardizes compliance processes through a central management dashboard which is accessible via desktop or mobile. While designed for enterprise-level business needs, any organization of any size can use VComply to assign responsibility for hundreds of internationally recognized compliance requirements to individuals and departments across their business, streamlining this otherwise complicated process and saving significant time and money. Users of VComply are also protected from expensive penalties and human error risk-reduction when meeting compliance deadlines. Its comprehensive and cloud-based GRC solution uniquely positions the company for growth in the multi-billion-dollar global GRC industry.