Cloud compliance software platform Shujinko has closed its Series A round on $7.5m to support the development of its SaaS solution.
The capital injection was led by Unusual Ventures, with participation also coming from Defy and key angel investors.
Shujinko was initially incubated and spun out from Pioneer Square Labs and has raised $10.3m in capital to date.
With the burst of funding, the startup will look to increase development of its platform and hire additional engineering talent.
Its platform automates cloud compliance and audit processes including numerous technical controls and documentation which take manual processes hours to complete, it claims. Clients can use the solution to meet SOC 2 compliance within days.
The SaaS technology can be deployed into cloud environments to ensure constant compliance and security.
The company is based in Seattle and was founded by cloud compliance experts Scott Schwan and Matt Wells.
Unusual Ventures managing partner John Vrionis said, “There’s no better team to solve the increasing regulations and compliance demands facing cloud-based enterprises.
“Scott and Matt have experienced the pain of building and maintaining compliance for large retailers—like Starbucks— firsthand and as builders, have a keen understanding of the product that is very much needed in the market. The execution and traction that the Shujinko team has achieved in a year is impressive and we’re excited to continue to partner with them during their next phase of growth.”
Last year, the company closed a $2.8m seed funding round from investors including Unusual Ventures, Deft, Vulcan Capital, PSL Ventures, and Vas Ventures.
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