Indian risk compliance firm secures $20m to fuel R&D in AI, automation

Sprinto founders Girish Redekar (left) and Raghuveer Kancherla / Photo credit: Sprinto

Cybersecurity startups, especially AI-powered ones, have seen a recent boost in interest. In Singapore, a startup specializing in “dark web intelligence” raised US$7 million just last month, while another was acquired by a US-listed firm.

Some cybersecurity firms are also setting their sights globally. One of them is Sprinto, a security and compliance firm based between India and the US.

The company recently raised US$20 million from Accel, Elevation Capital, and Blume Ventures in its series B funding round.

Sprinto CEO Girish Redekar said that the capital will fuel the firm’s R&D efforts, particularly in AI and intelligent automation. The new funds will also enable the company to refine its core modules, splitting risk and compliance features into distinct products.

In a statement, Sprinto noted that companies have become more hesitant to do business without proper security and data privacy practices. This year, research and consulting firm Gartner expects global security and risk management spending to grow 14% compared to the previous year, propelled by increased adoption of cloud and AI tech as well as the continuation of hybrid work setups.

Founded in 2020, Sprinto automates information security compliance and privacy laws, mainly for SaaS companies. It also runs the Sprinto Ignite program, which helps startups get access to its compliance platform.

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