When Compliance Is More Than A Box Checked
Last quarter, global Venture Capital funding fell to $81 billion, per Crunchbase, a dramatic decline from the previous quarter and year. So the question becomes, “what companies are VC firms investing in?”
Evaluating the Compliance Market
In the digital age, online fraud is an ongoing problem, making compliance a top priority for organizations. Centana has been evaluating the security compliance market and trying to find company that has a unique platform to help protect companies against this. Through their research, they reviewed many of the approaches various players were taking in the space, but ultimately were drawn to Laika’s integrated audit approach.
As Centana learned more about Laika, dove deeper into the market, and heard customer stories – the importance of a unified platform for an end-to-end integrated audit experience became evident. They heard customers’ desires to not just be audit-ready, but to be fully invested in compliance from start to finish, which drew them to Laika’s unparalleled, problem-solving approach.
Next-Generation of Security Compliance
What does the future of security compliance look like? For Centana, identifying the next breakthrough in the industry was a top priority. Laika’s unified platform has positioned the company to revolutionize the market.
“Laika’s platform, which creates a seamless end-to-end compliance management and audit experience, stands apart in a market dominated by check-the-box solutions,” said Eric Byunn, Partner at Centana Growth Partners.
As they continued to hear first-hand how much value Laika adds by helping its customers efficiently become compliant across various critical frameworks, they knew Sam Li, Austin Ogilvie and Eva Pittas had built a game-changing company.
In the last year, Laika grew its active user base by more than 1,000%. On average, Laika customers achieve 60% faster SOC 2 audits and complete them in mere weeks, whereas competitors take months.
On November 8th, Laika, announced they closed $50 million in Series C funding led by Fin Capital, with participation from Centana Growth Partners.
This new funding will support Laika’s continued product development while accelerating sales, marketing and strategic partnerships. Centana is looking forward to supporting the entire Laika team as they continue to grow and make an impact on the future of the security compliance market.
Authors: Aleksandra Antolak and Eric Byunn