Richa Kaul says she is a data privacy enthusiast. At parties, for example, he is the one who helps people with their phone’s privacy settings. “It got to the point where I realized that the best way to protect consumer data is to help protect the businesses that hold the world’s data.”
So he founded a company called Compliance to do just that. On Wednesday, the company announced a Series A of $20 million led by GV. Compliance is an application that companies integrate into their existing technology stack. It uses AI agents to help them manage data governance, risk, and compliance.
“AI is doing a lot of manual work for itself,” Kaul said. “It uses AI to custom-check incoming data against its own criteria and risk thresholds.” The AI then flags any hazards that need to be reviewed.
These risk reviews can take weeks or months if done manually. It is a regular process based on an audit that happens maybe once a year or once a quarter, where teams will evaluate their organization. Tools like Compliance hope to make this process more efficient by using technology to run continuous checks in seconds, so companies never have to wonder if they’re data compliant. It also has an agent that checks the vulnerability of any third-party vendors.
“We’re trying to redefine what enterprise GRC teams spend their time doing right now,” he said, adding that it’s often chasing mundane tasks. GRC stands for generality, risk, and compliance.
Others in the market include Archer, ServiceNow GRC, and OneTrust. He said his company is different from the incumbents because it is about AI, instead of putting AI features on top.
Kaul declined to say how many clients the company has, but noted that it works with several Fortune 500 companies. Compliance has raised $28 million in funding so far. Although the company sneaked out in 2023, its first product didn’t hit the market until late 2024. Kaul called the fundraiser “kind of a fairy tale,” because GV really reached out to him.
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“They wanted an enterprise-class AI-led product in an environment that was winning business customers, and we were doing that,” Kaul said. Others in this latest Series A round include Speedinvest, Everywhere Ventures, and angel investors from Anthropic and Mastercard.
The new capital will be used to help expand markets, Kaul said. He wants to release 30 more purpose-built agents on top of the 16 the product already has. The goal is to help make the lives and work of GRCs much easier. After all, they did not sign up to fire the country’s jobs.
“They signed up to help protect their businesses and protect their business customers,” he said. “By redefining some of that workflow and redefining how work is done, we’re able to open it up for them to help them focus on those important things.”
