Compliance and risk management platform Certa raised $35 M Series B funding
Platform for compliance and risk management Certa has raised $35 (roughly Rs 291 crore) in its Series B round, which was sponsored by Fin Capital, Vertex Ventures Southeast Asia, and Vertex Ventures India. Additionally taking part in the round were Tru Arrow Partners, Point72 Ventures, BDMI, the family office of Aglae Ventures, Mantis VC, and GOAT Capital.
With the new funding, the institution’s total investment in the San Francisco and Bengaluru-based company now stands at $50 million.
According to a press release from Certa, the money will be used to improve go-to-market strategies, roll out next-generation technologies, and penetrate lucrative markets.
In 2013, Jagmeet Lamba founded Certa, a platform that enables all third parties—vendors, partners, and clients—to share data and internalize a company’s compliance and risk management rules and policies. In addition to third-party validations and questionnaires, Certa offers risk-scoring reports, templates, and modules to help organizations analyze risk and comply with regulations.
According to the company, it has assisted clients with the onboarding and monitoring of millions of businesses in 120 countries and 41 languages. Additionally, it promises to help businesses cut cycle times by more than 78% and operating expenses by 50%.
Hyperproof, Cypago, and Kompliant are other participants in this market, and all three have recently raised sizable sums of money.
