Anecdotes, a pioneering force in enterprise GRC (Governance, Risk and Compliance) technology, has recently celebrated a significant financial achievement by closing a $25m Series B funding round.
This latest investment brings the total capital raised by the company to $55 million. New investors Vertex and DTCP have demonstrated their confidence in Anecdotes’ unique enterprise offering and its global expansion strategy by joining the round.
The funding round was led by Glilot Capital Partners and received substantial support from existing investors, including Red Dot Capital Partners, Vintage Investment Partners, and Shasta Ventures.
This investment stands as a testament to Anecdotes’ resilience and impressive traction in the market, particularly given the current economic challenges. Over the past year, Anecdotes has tripled its Annual Recurring Revenue (ARR), a growth primarily fueled by expanding its U.S. customer base, which now includes high-profile names like Lifelabs, Snowflake, Coinbase, Aristocrat, SoFi, Grafana, Payscale, and more.
Founded in 2020 by Yair Kuznitsov and Roi Amior, with offices in New York, San Francisco, and Tel Aviv, Anecdotes is revolutionizing the way compliance and risk management are handled in enterprises. The company’s Compliance Operating System has transformed what was once a labor-intensive task into a data-driven tool for business growth. This system simplifies data collection for modern GRC applications, meeting various compliance and risk needs while leveraging its flexible integrations with widely-used platforms such as Azure, PagerDuty, and Datadog.
The funds from this Series B round will be used to introduce new data-driven innovations in the GRC field, such as the Anecdotes AI Toolkit. This toolkit aims to provide a comprehensive list of risks, controls, and policies for securely integrating Generative AI capabilities.
Additionally, the funding will facilitate the company’s expansion into crucial markets across the U.S., EMEA, and APAC regions and will enhance its engagement with successful partnerships like those with Deloitte, Coalfire, and Google.
Yair Kuznitsov, CEO of Anecdotes, said, “Our commitment remains steadfast: to empower businesses with cutting-edge solutions, fostering a safer and more compliant digital world. As we embark on this exciting new chapter, we are grateful for the trust of our investors and partners, and we look forward to delivering transformative value to our clients and the industry at large.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst
