Compliance solutions provider Laika this week announced raising $50 million in a Series C funding round that brings the total investment in the company to $98 million.
The new funding round was led by Fin Capital, with additional participation from new and existing investors, including Centana Growth Partners, Canapi, J.P. Morgan Growth Equity Partners, and ThirdPrime.
Founded in 2019, the New York-based firm provides organizations with end-to-end software and services that ensure information security compliance.
The company’s platform delivers compliance automation and audit management, bringing all audits in a single place for easy progress tracking. It also coordinates the audits and combines them for increased visibility.
The company says that it has increased the size of its team by 50% over the past year, and that it grew its customer base ten-fold during the same period.
Laika plans to invest in product development, sales growth, and marketing.
“I’ve seen digital compliance become a serious blocker for founders and innovators. But beyond blockers are the potential risks, including serious financial, reputational, and even criminal penalties. Laika mitigates these risks by marrying automation best practices in software development with principled fundamentals borne from audits in finance,” Laika co-CEO Austin Ogilvie said.