RegScale Closes First Year with Tremendous Growth as Organizations Realize the Promise of the Regulatory Operations Movement

News provided by

Jan 18, 2023, 08:38 ET

Real-Time GRC Company Hits Significant Corporate, Customer and Product Milestones

TYSONS CORNER, Va., Jan. 18, 2023 /PRNewswire/ -- RegScale, a real-time Governance Risk and Compliance (GRC) software company, today announced it had exceeded key corporate expectations in its first year of business, laying the groundwork for an outstanding 2023. Over the last year, RegScale raised $21.5 million in seed and Series A funding, expanded its executive leadership team with notable appointments, and hit 282,000 Community Edition downloads worldwide, among other achievements.

"It's hard to believe that we just celebrated our one-year anniversary," stated Anil Karmel, Co-Founder and CEO of RegScale. "What RegScale has accomplished in the last year is astounding. Not only did we raise money during difficult market conditions, but we recently completed the GovReady acquisition, furthering our commitment to bring compliance into the modern era. We look forward to growing at an accelerated pace, including expanding our team in 2023 to meet customer demand and continue to drive innovation to bridge the divide between security and compliance."

RegScale's 2022 highlights include:

Funding, Acquisition, and Executive Team Appointments

Closed a $20M Series A funding round with SYN Ventures, SineWave Ventures, Virginia Innovation Partnership Corporation, SecureOctane, and other strategic investors.
Acquired GovReady, an open-source Compliance-as-Code technology company, to further RegScale's position as a leading NIST OSCAL-enabled GRC platform and continue transforming security compliance.
Expanded leadership team with Eric Erston, CRO, Larry Whiteside Jr., CISO, Steven Coles, Public Sector General Manager, and Greg Elin, OSCAL and Compliance-as-Code evangelist.

Delivered Market-Leading Product Innovation

Secured two patents for its core platform, including our Time Travel system to visualize changes over time and layered multitenancy to support the largest and most complex customer use cases.
Delivered over 2000 new features with 20+ real-time integrations and added support for 40+ different regulations out of the box.
Crossed 282,000 downloads worldwide of the RegScale Community Edition, a free-to-use platform, providing small to midsize businesses with the tools they need to meet compliance obligations.

Received Third-Party Recognition and Endorsements Validating Company and Product Leadership

Selected as the 2022 SINET16 Innovator Award winner among hundreds of emerging cybersecurity companies worldwide.
Included in DCA Live's 2022 Red Hot Cyber Company list recognizes high-growth cyber companies dedicated to solving the biggest security issues facing national security.
Named an Icon Outlook 2022 Top 20 Compliance Solutions Provider, honors providers delivering cutting-edge solutions in the compliance industry.

"As regulatory requirements continue to grow exponentially and systems become more dynamic and ephemeral in the cloud, organizations of all sizes find it difficult to attest to their compliance," stated Travis Howerton, Co-Founder and CTO of RegScale. "This trend will continue to be a significant issue affecting commercial and public sectors in 2023. Real-time compliance with automation is the RegScale answer. We built this company to help organizations navigate and mitigate compliance gaps and visualize risk in real-time, all while giving them an intuitive user and machine experience. Building off of last year's success, we are excited to continue leading the Regulatory Operations (#RegOps) movement while making compliance cost-effective, simple, and reliable for every organization."

To learn more and be a part of RegScale's mission of simplifying and automating regulatory compliance for global organizations, please visit www.regscale.com.

About RegScale

RegScale frees organizations from manual, paper-based processes via its continuous compliance automation software. Our API-centric software integrates with your existing security and compliance platforms to dynamically manage the security control state, shifting compliance left to deliver audit-ready documentation on demand in the world's first real-time Governance, Risk, and Compliance platform. Heavily Regulated Organizations such as the U.S. Navy, Department of Energy, and Fortune 500 Financial Institutions use RegScale to start and stay compliant with their ongoing regulatory obligations. For more information, visit https://www.regscale.com/.

Media:
Angelique Faul
Silver Jacket Communications
513.633.0897
[email protected]

SOURCE RegScale