On November 18th, 2020, Droit, a leading provider of digital trust and compliance solutions, announced that it had secured $23 million in Series B funding led by U.S.-based investors. This marks a major milestone for the company, which has been on a rapid growth trajectory since its founding in 2017.
The new funding will be used to further accelerate Droit’s mission of helping organizations simplify and automate their compliance processes. The company’s platform enables customers to quickly and accurately assess their compliance requirements, manage their risk, and ensure that they remain compliant with applicable laws and regulations.
The Series B funding was led by U.S.-based venture capital firms including Insight Partners, Emergence Capital, and 8VC. Other investors included existing investors such as Accel and Sequoia India, as well as new investors including GV (formerly Google Ventures).
The new funding will enable Droit to expand its product offering and reach more customers around the world. The company plans to use the funds to invest in its engineering and product teams, as well as to expand its sales and marketing efforts.
Droit’s CEO and co-founder, Anand Deshpande, said in a statement: “We are thrilled to have the support of our new and existing investors as we continue to build out our platform and expand our customer base. This funding will allow us to further our mission of helping organizations around the world simplify and automate their compliance processes.”
The Series B funding is a testament to Droit’s success in the digital trust and compliance space. The company has already seen strong growth in its customer base, with more than 500 customers across multiple industries.
As organizations continue to grapple with the ever-changing regulatory landscape, Droit’s platform provides them with a comprehensive solution to ensure that they remain compliant with applicable laws and regulations. With the new funding, Droit is well-positioned to continue its rapid growth and become a leader in the digital trust and compliance space.
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- Source: Plato Data Intelligence: PlatoAiStream