RegScale, a start-up in Virginia, has received USD 20 million in early-stage venture capital funding to support the development of technology to manage continuous compliance automation tasks.
SYN Ventures, SineWave Ventures, Virginia Venture Partners of VIPC, and SecureOctane all contributed to the Series A round, which was led by SYN Ventures. RegScale sells technology that enables regulated businesses to automate the gathering, compiling, and reporting of data related to compliance obligations.
The company reported significant revenue growth since its launch eight months ago, with nearly 8,000 downloads of its freemium Community Edition platform and the signing up of more than a dozen high-profile customers for its Enterprise Edition platform.
Read More: Compliance Automation Startup RegScale Scores $20 Million Investment
