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Accel leads $20m round in Sprinto as it helps businesses build trust through its compliance and risk platform

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–News Direct–

Businesses are facing mounting pressure to prioritize security risks and ensure compliance with leading security and privacy standards. Non-adherence can result in loss of business, hefty regulatory fines, and damage to reputation. However, despite the critical importance of these activities, they struggle to build a robust, responsive risk and compliance program due to the amount of manual work involved and the limited availability of resources.

Helping businesses to address these challenges, leading automated risk and compliance platform Sprinto is today announcing a $20m funding round. Accel led the series B funding round with participation from existing investors Elevation Capital and Blume Ventures. Including this round, Sprinto has raised $31.8 million to date. Sprinto will use the fresh funds for R&D, with a sharp focus on intelligent automation and AI, and expanding into new markets.

Sprinto foudners: Girish Redekar and Raghuveer Kancherla
Sprinto foudners: Girish Redekar and Raghuveer Kancherla

To empower businesses in navigating risk and compliance with clarity and confidence, Sprinto has pioneered technology rooted in intelligent automation that eliminates barriers to establishing trust. The platform plugs into a company's processes to create intelligent workflows using AI. By doing so, Sprinto tears down silos and produces a connected view of assets, risks, controls, and compliance. This structured approach enhances security programs, fostering seamless operations and tangible results.

Founded in 2020 by Girish Redekar and Raghuveer Kancherla, Sprinto marks their second entrepreneurial endeavor. The company has amassed thousands of customers and extended its reach to more than 75 countries. The co-founders observed first-hand the challenges of dealing with compliance with their first venture Recruiterbox (acquired in 2018). They found it to be tedious, manual, confusing, and costly. Sprinto was born out of this frustration, designed and engineered to help other companies eliminate busywork through intelligent automation, liberating themselves from compliance drudgery and reclaiming time to do business.

Girish Redekar, co-founder and CEO of Sprinto, said: Companies are increasingly dependent on third and fourth parties to provide mission-critical services from payroll processing to managed web hosting. Its inevitable that this will expose them to vulnerabilities. They are doing their best to follow best practices for cybersecurity, but less than a quarter of execs believe they are meeting the bar (Bain & Company). Compliance serves as a way of seeding good security behaviors that help maintain security while ensuring high operating standards, high service levels, and risks under control. Ive seen how CEOs are now increasingly engaged in risk and compliance-related projects, transitioning from viewing it solely as a monitoring and reporting mechanism for regulators to recognizing its potential as a driver of growth. Trust is the currency of any business transaction. Removing barriers to establishing trust can hyper-accelerate the GDP growth of B2B commerce. We are committed to building the technology that enables this mission.

Sprinto customer Alessio Panni, Partner and Head of Cloud & Platforms practice at Prometeia commented: "As a leading company in the field of consulting services and software solutions for the financial sector, we firmly believe security and compliance lie at the very heart of our SaaS Cloud offering for risk management and wealth management. Sprinto is our trusted security and compliance platform, enabling us from the early days to enhance protection for our client's assets and to accelerate the path towards secure growth and compliance goals.

The Governance, Risk, and Compliance (GRC) market is undergoing unprecedented changes. Total spending reached $54.61 billion in 2023, and its expected to climb to $134.86 billion in 2030 (source: Grandview Research). With its automation-first, intelligent, and adaptive risk and compliance platform, Sprinto is primed to succeed. The founding team and core leadership bring together decades of collective SaaS experience, drawing from diverse backgrounds as former founders, investors, and senior management professionals at companies like IBM, McKinsey, LinkedIn, Tata Consultancy Services, and BrowserStack.

Shekhar Kirani, Partner at Accel, commented: With the proliferation of data across digital platforms, the secular shift to the cloud, and the growing adoption of SaaS tools, information security is gaining central importance in the enterprise. Every company – whether tech-enabled or traditional, large or mid-sized – is increasingly required to comply with standard frameworks and protocols. Sprinto is doing an incredible job of helping companies focus on their core business by making compliance low-touch, automated, and efficient. With a deep understanding of the product and a sharp focus on execution, Sprinto has been on a rare growth trajectory. We are thrilled to partner with Girish, Raghuveer, and their team at Sprinto in their mission to ensure that compliance becomes a driver of growth for businesses,

Ravi Adusumalli, Co-managing Partner, Elevation Capital added: "We are thrilled to deepen our partnership with Sprinto as they continue to disrupt cloud security and compliance. Girish, Raghu, and the team have created a superior and comprehensive product, enabling hundreds of customers to achieve their compliance necessities. Sprinto's reviews and customer feedback are a testament to the product quality, which has enabled the company to grow over twenty times in a highly capital-efficient way since we led their Series A fundraising in 2021."

About Sprinto

Thousands of ambitious businesses trust Sprinto to streamline and automate their risk and compliance. Sprinto supports all major standard security frameworks, including SOC 2, ISO 27001, GDPR, HIPAA, and PCI-DSS, as well as custom frameworks tailored to your needs. With flexible and intelligent features, including adaptive automation, Sprinto equips businesses with a comprehensive toolkit to navigate cyber risk and regulatory requirements seamlessly, ensuring that compliance and audits never hinder growth.

About Accel

Accel is a leading global venture capital firm that aims to be the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, BrowserStack, Flipkart, Freshworks, Cure.fit, Musigma, Mensa Brands, Myntra, Swiggy, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more information, visit www.accel.com

About Elevation Capital

Elevation Capital is a leading venture capital firm that provides seed and early-stage capital for emerging companies in India. Having invested in India since 2002, Elevation has deployed over $2 billion of capital in over 150 companies. The firm announced its eighth pool of capital of $670 million in April 2022. Co-led by Managing Partners Ravi Adusumalli and Mukul Arora, along with Partners Mridul Arora and Mayank Khanduja, the firm has invested across Consumer Internet, SaaS, Fintech, Consumer Brands, Edtech, Healthtech, Gaming, and Deeptech. Elevation Capital has offices in Bengaluru and Gurgaon. For more information, visit elevationcapital.com

About Blume Ventures

Blume is an early stage venture fund that backs startups with both funding as well as active mentoring. We typically invest in tech-led startups, led by founders who are obsessed with solving hard problems, uniquely Indian in nature, and impacting large markets. Our vision is to be the leading platform that sources, funds, nurtures, and creates value for India's brightest young startups helping them blume. For more information, visit blume.vc

Contact Details

Sprinto

Bilal Mahmood

+44 7714 007257

b.mahmood@stockwoodstrategy.com

Company Website

https://sprinto.com/

View source version on newsdirect.com: https://newsdirect.com/news/accel-leads-20m-round-in-sprinto-as-it-helps-businesses-build-trust-through-its-compliance-and-risk-platform-290531532

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Press Release

Sky-Blue Sets New Standards in Aviation with Custom-Designed, Eco-Friendly In-Flight Products

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Reading, UK, 19th October 2024, ZEX PR WIREThe global aviation industry is evolving, with airlines seeking innovative, sustainable solutions to enhance passenger experience while addressing environmental concerns. Sky-Blue, a leading designer and supplier of in-flight products, is rising to meet these demands. From eco-friendly textiles to bespoke amenity kits, Sky-Blue offers a unique blend of design-driven innovation and expert sourcing solutions, ensuring airlines worldwide can provide a superior, environmentally responsible service to their passengers. More information can be found at https://www.sky-blue.uk.

Elevating the Passenger Experience

Sky-Blue understands that every airline has its own identity, brand message, and passenger expectations. By offering bespoke design services, Sky-Blue allows airlines to curate in-flight products that perfectly reflect their brand and enhance the overall passenger experience. From luxurious amenity kits to customized cutlery and elegant glassware, Sky-Blue designs products that not only look beautiful but also perform flawlessly, creating lasting impressions in the sky.

“We believe that innovation and sustainability can go hand in hand,” said a spokesperson for Sky-Blue. “Our in-house design team works closely with our clients to ensure every product we deliver is tailored to their needs, while also contributing to a greener future for the airline industry.”

Sky-Blue’s offerings include a wide range of in-flight products, such as:

  • Amenity Kits: Personalized, premium kits for all cabin classes, featuring eco-friendly materials and innovative designs.

  • Cutlery & Tableware: Lightweight, durable, and elegant dining solutions, ranging from stainless steel to biodegradable materials.

  • Textiles: Sustainable fabrics for blankets, pillows, and napkins that are both soft and environmentally responsible.

  • Glassware: Beautiful, high-quality glassware collections, including stemless options for wine, champagne, and spirits.

  • Serving Items & Galley Equipment: Functional yet stylish items designed to enhance in-flight food service.

Whether you’re catering to first-class passengers or providing efficient, durable products for economy cabins, Sky-Blue ensures that each product reflects the highest standards of quality and innovation.

Design-Driven Innovation

What sets Sky-Blue apart is its focus on design-driven innovation. Sky-Blue’s in-house design team uses cutting-edge 3D visualization technology to work hand-in-hand with airline partners, creating products that are both visually appealing and technically sound. This close collaboration ensures that every detail, from the material selection to the final product design, aligns with the airline’s brand identity and the functional needs of in-flight service.

One of Sky-Blue’s flagship offerings is its Bone-China Collection—a timeless blend of sophistication and practicality. Lightweight yet durable, this collection redefines the dining experience onboard, particularly in first and business class. Alongside this, their Sky-Blue Tableware Collection provides an extensive range of durable and elegant options that balance design with function.

Sustainability at the Core

In a world where environmental responsibility is more critical than ever, Sky-Blue is committed to offering products that help reduce the aviation industry’s carbon footprint. This commitment to sustainability is evident in their extensive use of recyclable, biodegradable, and reusable materials.

“As the airline industry works towards reducing its environmental impact, we’re proud to be at the forefront, offering products that not only deliver on quality but also contribute to a more sustainable future,” the spokesperson added.

From using eco-friendly textiles to creating biodegradable amenity kits and tableware, Sky-Blue ensures that airlines can offer passengers the very best in comfort and convenience while staying mindful of the planet. The company’s Sustainability Vision focuses on leading the industry toward using fully recyclable and compostable in-flight products, setting a new standard for eco-conscious air travel.

Expert Sourcing and Logistics

Sky-Blue has built a strong reputation for its expert sourcing and logistical capabilities. The company boasts an extensive network of trusted factories, ensuring that all products meet the highest standards of quality and are delivered on time. This network, combined with Sky-Blue’s own distribution facility and logistical framework, guarantees reliable service, allowing airlines to maintain smooth operations and ensure passenger satisfaction.

From sourcing cutlery to managing the entire logistical supply chain, Sky-Blue is a trusted partner for airlines seeking seamless integration of in-flight products into their service offerings.

Curating Excellence for Every Cabin Class

Sky-Blue’s diverse product range caters to all cabin classes, from first and business class to premium economy and economy. Their ability to customize products for different levels of service allows airlines to provide passengers with a consistent, high-quality experience, no matter where they are seated.

  • First/Business Class: Elevate luxury with bespoke bone china, premium textiles, and custom-designed glassware.

  • Premium Economy: Offer a touch of elegance with tailored cutlery, serving items, and textiles designed for comfort.

  • Economy: Provide functional, durable products that balance practicality and design, ensuring passengers enjoy a seamless experience.

With Sky-Blue, every airline has the opportunity to differentiate itself, offering passengers not just a flight but an unforgettable experience.

Bespoke Design Services: Bringing Your Vision to Life

At the heart of Sky-Blue’s offerings is its bespoke design service. Sky-Blue’s design team works closely with airlines to create products that are fully customized, ensuring that every detail is perfect. Whether it’s creating unique patterns, choosing sustainable materials, or adding brand logos, Sky-Blue ensures that every product is tailor-made to meet the airline’s specific needs.

“Bespoke products allow airlines to reinforce their brand identity,” said the spokesperson. “With custom-made products, airlines can offer passengers something truly unique, setting them apart in a competitive industry.”

By incorporating the airline’s brand elements into the design, Sky-Blue’s bespoke solutions create products that feel cohesive, luxurious, and memorable.

A Trusted Partner in the Skies

With years of experience and a reputation for excellence, Sky-Blue has become the trusted partner for airlines seeking to enhance their in-flight product offerings. Sky-Blue’s expertise in design, sourcing, and sustainability, combined with its commitment to delivering bespoke, high-quality products, makes it the go-to supplier for airlines around the globe.

Sky-Blue’s mission is to revolutionize the airline industry by designing and supplying bespoke, sustainable products that enhance the passenger experience, while their vision is to set new industry standards in inflight comfort and environmental responsibility.

For more information about Sky-Blue’s products and services, visit www.sky-blue.uk, or contact them at +44 (0)118 958 9524 or via email at info@sky-blue.uk.

About Sky-Blue

Sky-Blue is a leading designer and supplier of bespoke in-flight products for the global airline industry. Offering everything from custom-designed tableware and glassware to eco-friendly textiles and amenity kits, Sky-Blue focuses on creating innovative, sustainable solutions that enhance the passenger experience. With a commitment to environmental responsibility, Sky-Blue works closely with airlines to deliver products that not only meet their needs but also help reduce their carbon footprint. Based in Reading, UK, Sky-Blue serves airlines worldwide, bringing excellence to the skies one product at a time.

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Press Release

Canadian Cat-Owners Assured Peace of Mind with CatKing Cattery’s After-Sales Guarantee

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Enjoy Unmatched Support and Care for Your Feline Friend with CatKing Cattery’s Comprehensive After-Sales Guarantee for Canadian Cat Owners.

Ontario, Canada, 19th October 2024, ZEX PR WIRECatKing Cattery, a premier breeder of British Shorthair and British Longhair kittens, proudly announces its commitment to providing Canadian cat owners with unparalleled peace of mind through its comprehensive after-sales guarantee. This initiative underscores CatKing Cattery’s dedication to ensuring the well-being of their kittens and the satisfaction of their clients, fostering lasting relationships that extend well beyond the adoption process.

Located in Ontario, CatKing Cattery has established itself as a leading name in the feline breeding community. As a legally registered cattery under TICA and CFA, it adheres to the highest standards of care and breeding practices. Each kitten is raised in a nurturing environment, receiving ample love, socialization, and attention, which contribute to their friendly and affectionate temperaments.

“Our mission is not just to place a kitten in a home but to create lasting relationships with our clients. Our after-sales guarantee reflects our commitment to supporting our families as they welcome a new furry member into their lives.” -a spokesperson from CatKing Cattery.

One of the standout features of CatKing Cattery’s after-sales guarantee is the extensive support it offers to new cat owners. From dietary guidance and grooming advice to behavioural consultations, CatKing Cattery ensures that clients have access to essential information that contributes to the well-being of their kittens. This proactive approach alleviates common concerns that first-time cat owners may face, allowing them to focus on enjoying their new companionship.

In addition to ongoing support, CatKing Cattery prioritizes the health and safety of its kittens. Before leaving the cattery, each kitten undergoes thorough veterinary examinations and health screenings. Clients receive detailed documentation of their kitten’s health history, ensuring transparency and peace of mind. “We take great pride in our breeding practices and the health of our kittens,” the spokesperson adds. “Our after-sales guarantee is an extension of that commitment, providing reassurance to our clients that they are well taken care of.”

The dedication to excellence at CatKing Cattery extends to the selection of breeding stock. The cattery’s kittens are not only stunning but also possess the ideal temperaments sought by cat lovers. With a proven track record of success in international competitions, CatKing Cattery emphasizes both physical beauty and personality in its breeding program. This focus on breeding healthy, well-mannered kittens ensures that families receive delightful companions capable of enriching their lives.

Whether you reside in Toronto, Vancouver, Calgary, or any other part of Canada, prospective cat owners can feel confident when choosing CatKing Cattery. The after-sales guarantee serves as a testament to the cattery’s dedication to the well-being of both their kittens and the families who adopt them. “We want our clients to know they are never alone on this journey,” the spokesperson remarks. “We are here for them and their kittens, ensuring a happy, healthy relationship for years to come.”

CatKing Cattery invites cat enthusiasts to explore their selection of British Shorthair and British Longhair kittens and experience the joy of cat companionship backed by the assurance of comprehensive after-sales support.

About CatKing Cattery

CatKing Cattery is a legally registered establishment in Ontario, Canada, specializing in breeding British Shorthair and British Longhair kittens. With a commitment to health, temperament, and ongoing support for new cat owners, CatKing Cattery ensures a smooth and rewarding experience for families welcoming a new feline companion into their homes.

Contact Information

Website: https://www.catking.ca

Phone Number: 647 – 994 – 3210

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Press Release

TADA mini Success Fuels MVL’s Tokenomics Upgrade For Sustainable Growth

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MVL, a blockchain mobility company, has unveiled an advanced tokenomics plan, building on the remarkable success of TADA mini’s launch. MVL revealed that the utility of its MVL token will be significantly enhanced as TADA mini continues to grow.

TADA mini, which launched in September 2024 at Singapore’s TOKEN2049, saw over 15,000 users experience this groundbreaking mobility service during the event. As the first-ever Web3 ride-hailing service available as a Telegram mini app, TADA mini allows users to easily book rides using a variety of cryptocurrencies through a connected digital wallet. With no complicated sign-ups required, users can instantly access the service within Telegram, benefiting from TADA’s extensive network of over 300,000 drivers and a high matching rate. These innovative features have positioned TADA mini as a key player in the mainstream adoption of Web3.

MVL emphasized that the growth of TADA mini will be closely tied to the economic utility of MVL tokens, which will be strengthened in several ways:

  1. Supporting MVL Token and Incentivizing Transactions: MVL is updating TADA mini to support $MVL tokens. Users who utilize MVL tokens for rides will receive additional benefits, which is expected to drive demand and increase transaction volume.
  2. Corporate Staking for Token Lockups: Partner companies across various Layer 1 blockchains, cryptocurrencies, and digital wallets will be required to use MVL tokens to integrate with TADA mini. Through a corporate staking mechanism, partners will acquire MVL tokens from the market and lock them on-chain, driving up demand and value for the token.
  3. MVL Token Buyback: MVL plans to reinvest cryptocurrency transaction fees by purchasing MVL tokens from the market and storing them in its on-chain treasury.
  4. MVL Token Usage in TADA mini Promotion Features: TADA mini is also providing services like event promotion and user incentive programs. During TOKEN2049, for example, TADA mini collaborated with prominent Web3 projects such as Blum, Bitget, and TON Society, offering banner ads and event recommendations. MVL tokens will continue to be used for such promotional services.

MVL’s Chief Innovation Officer, James Yang, remarked, “TADA mini has demonstrated the real-world use of digital assets in practical applications, and we’re seeing interest from prominent projects in collaborating with TADA mini. Going forward, the MVL token will play a crucial economic role within TADA mini, and its growth will be mirrored by the expansion of the MVL token ecosystem.”

This announcement marks an important step in MVL’s commitment to enhancing the long-term utility and sustainability of its token, ensuring its pivotal role in the evolving landscape of Web3 mobility services.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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