RegScale, which provides continuous compliance automation, has raised $1.5m in an early funding round, alongside its launch into the market.
The investment was supported by Virginia Innovation Partnership Corporation (formerly CIT), New Dominion Angels and several unnamed strategic investors.
RegScale spun out of C2 Labs, a digital transformation services company. The platform was built to help firms in heavily regulated industries to continuously manage the year-over-year growth in their compliance burden.
Its continuous compliance automation solution moves organisations from manual processes into API-centric approaches. Currently, the platform can help meet compliance with over 70 regulations, including NIST, ISO, SOX, CMMC and NERC-CIP.
Since its launch in early 2021 as Atlasity, it has seen 5,000 downloads for its freemium Community Edition, and has five major customers of its Enterprise Edition. RegScale co-founder Anil Karmel claimed customers are saving up to $500,000 per year on their cyber insurance premiums.
He added, “One customer was able to dynamically report their state of compliance in real time in Tableau by integrating RegScale with Wiz.io, bringing in cloud compliance findings and marrying them against manual assessments of compliance controls. This allowed them to continuously meet their compliance obligations and update their documentation in real time.”
Some of the features boasted by RegScale include drag and drop workflows, which enable compliance artifacts to be created quickly. Customers can integrate these with their existing security and compliance platforms, and can support both manual and real-time automated assessments.
The company’s co-founder Travis Howerton said, “We are bringing the principles of DevOps to compliance to solve the most difficult compliance headaches that companies face and help them transition their manual, static compliance documentation and processes into a dynamic, automated, and collaborative platform.”
RegScale has also built an open-source community to encourage third-party collaborators to create integrations with the platform.
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