Sprinto raises $10 million from Elevation Capital, Accel, Blume Ventures

Sprinto, a compliance automation platform for Software-as-a-Service (Saas) companies, has raised $10 million in Series A funding, led by Elevation Capital and participation from Accel and Blume Ventures.

The company will use the funds to expand its team across key functions and R&D, it said in a statement. In January 2020, the company had raised $1.5 million in seed funding from Blume Ventures.

“The company will ramp up hiring and also open its first North American office, in Utah, by this quarter’s end,” it said.


Founded by Girish Redekar and Raghuveer Kancherla and launched last year, Sprinto is a compliance automation platform that helps SaaS companies obtain compliances, such as SOC 2, ISO27001, GDPR, HIPAA etc.

Obtaining these compliances helps Sprinto customers close enterprise deals and pass vendor security assessments easily.

As enterprise SaaS continues to grow exponentially, businesses are increasingly relying on compliances like SOC 2 to get assurance that their SaaS vendors keep their data safe.

SaaS vendors need SOC 2 compliance to close high-ticket deals.

“As compliance with these standards, including SOC 2, is becoming a critical business need, most companies must rely on infosec consultants and auditors to get the necessary certifications,” Redekar said.

Being SOC2 compliant has become a revenue concern for SaaS businesses of all sizes. Recognizing this growing need, Sprinto aims to become the infosec OS of choice for SaaS service providers, Kancherla added.

“Sprinto solves a critical business need in a growing market. It has created a world-class product which is already emerging as the compliance automation platform of choice for SaaS companies and generating tremendous customer acclaim,” said Deepak Gaur, partner, Elevation Capital.