RegTech firm PolicyCo has raised $1.5m in a seed funding round led by venture capital and management firm Powered Health.
Founded in 2019, Tennessee-based PolicyCo has developed a cloud-based compliance management system to help both new and mature companies incorporate structure into their policies.
The system links policy and procedures to external auditory and regulatory frameworks to introduce the concept of policy management to the compliance ecosystem.
PolicyCo claims its approach is to break policy down to individual elements or articles and follow custom procedures to implement each policy article. Following this, it embeds evidence that proves cybersecurity controls are implemented and effective.
According to PolicyCo, it intends to use the newly raised capital to scale sales and marketing efforts as well as executing and expanding upon its product roadmap.
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Copyright © 2018 RegTech Analyst