SaaS startups have become the darling of Venture Capital investors, especially in the Compliance industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.
In this article, we are examining 28 VC funded SaaS startups in the Compliance industry.
AgentSync provides cutting-edge technologies for producer management, enabling insurance companies, agencies, and MGAs to develop quickly. AgentSync's products simplify the broker onboarding, contracting, licensing, and compliance processes by reducing friction, boosting efficiency, and maintaining compliance through their customer-centric design, seamless APIs, and automation. Niranjan "Niji" Sabharwal and Jenn Knight founded AgentSync in 2018, and it is based in Denver, Colorado. AgentSync has won awards for being one of Denver's Best Places to Work, a Forbes Magazine Cloud 100 Rising Star, a winner of the Insurtech Insights Future 50, and it is currently ranked 88 in Forbes' list of the 500 Best Startup Employers in America for 2022.
BRYTER is a no-code software platform that supports and automates its customers' creation of digital apps. It enables public administration, banks, corporations, and consultancy companies to spread their services globally through digitization. Berlin, Frankfurt, and London are the locations of BRYTER's offices. Professionals from firms like BakerMcKenzie, HoganLovells, Taylor Wessing, Simmons & Simmons, ING, Telefónica, and others are supported by the software on a global scale. Its headquarters are in Berlin, Germany, and it was established in 2018.
A compliance attorney created as a SaaS, ComplyCloud. top-tier European LegalTech in its industry.
CyberSmart is an automated compliance platform that aids in the detection, remediation, certification, and prevention of security events that have an impact on your company. They provide a cybersecurity platform that helps small-to-medium-sized businesses (SMBs) resist the ongoing danger of cyberattacks and impose more regulation in a technology environment that is always changing and becoming more connected.
Data management and protection are provided by DruvaTM for the cloud era. The AWS-based Druva Cloud Platform provides business data resilience that is globally accessible, endlessly scalable, and wholly autonomous. By relieving themselves of the burden of unneeded hardware, capacity planning, and software administration, customers may save expenditures by up to 50%. By turning backup data into an asset that is more open and accessible thanks to Druva's proprietary cloud architecture, users can streamline governance, boost cyber resiliency, and obtain crucial insights that help them find opportunities and hasten decision-making.
For P&C insurers, Friss is a provider of analytics software for compliance, risk, and fraud. For non-life insurance firms across the world, Friss is completely committed to fraud, risk, and compliance. FRISS assists insurers in growing their lucrative portfolios and enhancing consumer impression of them as dependable providers of insurance. By recognizing high risks and fraud at quote, underwriting, and claim processing across all private and commercial lines, FRISS, a ready-to-use business solution, lowers insurers' loss ratios. Since the FRISS® Score identifies the risk associated with each quotation, policy, or claim, it helps people make smarter decisions. With more than 150 installations in more than 30 countries, FRISS dominates the worldwide market. A comprehensive solution for fraud, risk, and compliance is provided by FRISS (www.friss.com). Risk evaluation during underwriting Automated real-time risk identification and evaluation during the underwriting process to produce profitable portfolio expansion. Having a comprehensive understanding of prospects before to letting them into your portfolio is crucial for preventing fraud and evaluating risks. It has been demonstrated that the FRISS underwriting solution's intelligent and consistent risk estimate considerably raises the combined ratio. Preventing and spotting fraud in claims The widespread consensus is that 10% or so of all insurance claims on average include some form of fraud. We all pay more for our insurance policies in order to pay for these fraudulent claims. There are three crucial factors: - How can fraud be accurately and effectively detected? - How may unscrupulous clients be quickly identified? How do you approach this in your day-to-day operations? By improving the likelihood of identifying fraud and minimizing false positives, you may lower your loss ratio. To determine the risks associated with a claim with accuracy and objectivity, use automated fraud detection during the claims process. It enhances straight through processing (STP), and claims that require more attention are immediately identified. ☆ Become and keep compliant All insurance procedures are subject to compliance. Become and remain compliant with the most recent laws and rules. Knowing and vetting your consumers will help you avoid costly penalties and brand harm. Obtain knowledge about the Ultimate Beneficial Owners (UBOs). Your underwriting procedure will be of higher caliber as a result. Additionally, few administrative costs will be imposed. Gartner acknowledged FRISS as the market leader in Europe in 2014, and the company is working to take the lead globally.
A compliance program is intelligently managed by Hyperproof, a cloud-based compliance operations software that automatically gathers evidence. It acts as a repository for an organization's compliance data and equips teams responsible for compliance with the resources they need to work with internal and external stakeholders. With this cutting-edge strategy, it enables firms to achieve their greatest goals and show that they are dedicated to safeguarding their clients, shareholders, partners, and suppliers in addition to the larger community. In addition to reducing administrative labor associated with compliance procedures, the software also assists firms in continuously reducing their risks, which is crucial at a time when both the regulatory and economic landscapes are unpredictable and cybersecurity risk is on the rise. Craig Unger started HyperProof in 2018, and it has its corporate headquarters in Bellevue, Washington.
LogicGate provides enterprises with cutting-edge risk management technology that enables proactive enterprise-wide risk transformation. We developed the Risk Cloud Platform®, the most agile and collaborative GRC solution available, since risk is a team sport. quickly adjust to shifting business circumstances. Develop new procedures with confidence as you go. Work together with your entire organization on risk. You can't obtain an integrated perspective of risk across the whole enterprise from point solutions, but Risk Cloud® does.
In addition to being an employee financial benefits platform that gives benefits teams a complete tool to manage taxable events, ModernTax is an API platform that enables financial and fintech organizations to access and verify IRS taxpayer information. ModernTax provides the following to the accounting and tax industries: 1. Relationship between taxpayers and commercial suppliers 2. Availability of tax information and online services for filing taxes 3. Process effectiveness for companies that offer tax and accounting services
Leading global employment platform Multiplier makes it simple for businesses to hire teams abroad. Its innovative technology manages the complexity of local compliance, labor contracts, payroll, benefits, and taxes, simplifying the hiring process. We provide businesses the ability to manage their distributed staff through an easy dashboard while also taking care of their compliance with regional labor laws. We are enthusiastic about establishing a society in which individuals may work at a profession they enjoy while remaining with the people they cherish.
A cloud management tool (SaaS) for AWS is called nOps. In addition to instant visibility to AWS infrastructure changes and automation of AWS Well-Architected Reviews, this service enables change management, painless compliance and security audits, and workflow automation with the help of the AWS Service Catalog. These features all contribute to continuous cost and resource optimization. nOps is an AWS Marketplace Seller as well as an Advanced Technology Partner in the AWS Partner Network. nOps and finOps: Only the savings are subject to a fee. Reduced cloud waste continuously - Optimization of Continuous Container clusters - Continuous RI management can save costs by up to 40% compared to on-demand resources. Spot Orchestrator will be less expensive than on-demand resources. The majority of businesses lack the resources necessary to concentrate on cutting cloud costs. Your ML-enabled FinOps team is nOps. nOps allows you execute workloads on spot instances, handle reservations automatically, and optimize your containers in addition to reducing cloud waste. Data-driven automation underpins everything.
AWS Security, Microsoft Azure Security, Google Cloud Platform Security, Cloud Security, Cloud Compliance, and Vulnerability Management. A company's cloud setup is read by Orca's cloud-native solution, which can find malware, incorrect settings, and other vulnerabilities. Its main office is in Los Angeles, California, and it was created in 2019.
Osano is an intuitive data privacy tool that aids companies in adhering to regulations like the CCPA and GDPR.
PayTic enables payments issuers to manage their card programs by providing dedicated back-office solutions that streamline the end-to-end operations in customer support, chargebacks, fraud, AML, reporting, and reconciliation. Our proprietary solutions are unique in automating and centralizing the program management processes, regardless of the number of processors and the payment networks involved in the payments products. We impact payments providers by eliminating the defragmented and manual processes and replacing them with a SaaS platform that increases proactivity, mitigates risks, and delivers value. It reduces the burn rate to near 0 in operational costs and offers an unprecedented competitive advantage. PayTic is introducing the Zero Ops model in managing payments.
Persona enables business to verify customer identities that brings trust to online interactions and help them with age verification, fraud prevention, and account recovery. It offers a comprehensive suite of automated identity verification components with worldwide coverage that can be configured, branded, and themed to create custom-tailored flows that cover any use case. It handles complex collecting, verifying, and managing sensitive personal information to stay focused on building products. Persona was founded in 2018 and is headquartered in San Francisco, California.
Polymer is a data governance and privacy platform for third-party SaaS applications such as Slack, Dropbox, Gdrive, Zendesk, Zapier, and many others. This protects against data loss and cyber breaches. The solution provides a single pane of glass to configure, permission, and track usage of sensitive data across the organization to become PII, PHI,HIPAA, GDPR, CCPA compliant.
Privacera is a SaaS data security and governance platform that enable data sharing without compromising regulatory compliance. It provides security for sensitive data across multiple cloud services such as AWS, Azure, Databricks, GCP, and Snowflake. The platform is utilized by Fortune 500 customers across finance, insurance, retail, media, and consumer industries to automate sensitive data discovery and easily manage high-fidelity policy management at a petabyte-scale on-prem and in the cloud. Privacera's backer includes Insight Partners, Sapphire Ventures, Battery Ventures, Accel, Cervin Ventures, and Point 72 Ventures. The San Francisco, California-headquartered company was established in 2016 by Balaji Ganesan and Don Bosco Durai.
Regology provides a world-class regulatory intelligence platform that enables organizations to quickly identify all applicable legal content, monitor incoming changes, and easily map them to risks and controls using the most advanced artificial intelligence.
SafeSpace helps to establish a safe, ethical, and inclusive working environment by making it safer for employees to speak out and simpler for compliance and HR teams to take action.
To assist guarantee that the cannabis industry complies with regulatory requirements, Simplifya creates a cloud-based Software-as-a-Service application for usage on the web, mobile devices, and tablets. Users of the program may check and keep track of licensee activities for adherence to national, state, and local laws, as well as monitor the compliance status of their company and add more users, locations, and licenses as their business expands. The business supports cannabis companies, legal offices, consultants, financial institutions, and regulatory authorities by keeping an eye on licensee activities to make sure they comply with state and local legislation.
Engineering and security teams may use Soveren, a tech-driven privacy management firm, to build automated privacy problem detection and remediation. By augmenting current security measures and offering protection against the financial and reputational harm brought on by data privacy mishaps, its solution addresses a privacy vacuum. Soveren does this by monitoring real-time data flows inside the corporate environment to find personal information and identify privacy problems. By giving teams actionable insight about the personal data utilized in regular company operations, it aids teams in resolving privacy problems.
TerraTrue is the first privacy platform designed to seamlessly work with product development. The company was founded by former ex-Snap execs who built that company's privacy and security programs from scratch. They joined forces to seamlessly integrate privacy-by-design into the software development lifecycle. Its growing team is creating intelligent tools that solve every company's privacy challenges -- from GDPR to CCPA and everything else -- while actually speeding up the pace of execution. By incorporating a smart privacy tool like TerraTrue, teams can use collaborative and smart workflows to align around new features, flag risks, bring structure to their data, map that data in real-time, and ship software with confidence. TerraTrue was founded in 2018 and based in San Francisco, California.
Vault empowers employees to feel confident to report misconduct and employers to take meaningful actions to reach a resolution.
VComply is an agile cloud (software as a service) GRC platform with capabilities to manage GRC in an easy-to-use and intuitive environment that delivers business value, brings a contextual understanding of GRC to enable an organization to reliably achieve objectives while addressing uncertainty and acting with integrity. VComply was founded in 2019 with a focus to deliver a SaaS Cloud GRC solution that is highly configurable and adaptable to a range of industries with a particular focus in the mid-market. VComply enables organizations with out-of-the-box GRC applications that possess the ability to configure them to the exact needs of an organization with zero coding and zero infrastructure. Our cloud platform for GRC enables organizations to strengthen risk and compliance management. Organizations across industry verticals benefit from VComply’s simple and modular approach to GRC that transforms GRC management in an increasingly mobile, social, global, and virtual business environment. VComply is an innovative, intuitive platform that modernizes how people work and interact with GRC processes across the enterprise. It is used to collect, organize, link, report, and analyze GRC data with increased control, collaboration, transparency, and accountability.
Whip Around creates and develops solutions to reduce the burden of paper-based compliance for a range of transport businesses in the US and abroad. Manage your fleet's compliance, preventative maintenance, repair orders, reports, and more effortlessly! Make effective checklists for your resources. Utilize the Whip Around mobile app to have your drivers conduct inspections at any time, anywhere. Receive notifications right away, examine information from the management dashboard, and manage defects without difficulty. Come see why Whip Around is beloved by more than 85,000 individuals worldwide. Whip Around 7-day free trial available!
Whistic offers consumers a single platform from which to perform and respond to vendor security evaluations. Prospective clients, consumers, and business partners are increasingly questioning the information security and compliance practices of software suppliers and other businesses that handle or keep sensitive data. By automating and expediting security evaluations, Whistic lowers friction by empowering sales teams to standardize their answers to security questionnaires, allowing InfoSec and compliance teams to more effectively assess the security and compliance posture of a specific firm.
Utilize the one and only platform created to manage independent contractors, assure strong compliance, and expedite payments as you develop, manage, and maintain your external workforce.