Kintent Raises $18M to Simplify Cyber ​​Security Compliance for Businesses

Kintent Raises M to Simplify Cyber ​​Security Compliance for Businesses

Startup Kintent Inc., which helps businesses more easily comply with regulations and cybersecurity, announced today that it has raised an $18 million funding round led by OpenView.

The round also included the participation of Tola Capital, which led the previous increase of $4 million in 2021. Kintent will use the funds to double its 25-person team by hiring more sales and support staff.

Companies often require that the software-as-a-service applications they use comply with cyber security standards such as SOC 2. These standards specify a set of steps that a SaaS company must take to protect its systems from cyber attacks. In some cases, a company may also require its SaaS providers to comply with industry-specific regulations, such as HIPAA for healthcare.

Achieving compliance with a cybersecurity standard can involve a significant amount of work. SaaS providers must implement the necessary cybersecurity controls in their systems, test whether the controls are implemented correctly, and undergo an audit. From there, a company should periodically check for potential compliance issues that may arise over time and fix them.

Kintent has developed a platform that makes it easy to comply with cybersecurity standards. Additionally, the startup promises to help SaaS companies streamline their sales processes.

“We must transform the status quo from tick-box compliance to trust,” said Kintent founder and CEO Sravish Sridhar. “To do that, we need a future where vendors and customers use APIs to truthfully share security and compliance information with each other. So instead of zero trust, Kintent will create a world of transparent and measurable trust, where trust in business is verified programmatically at all times.”

Kintent’s platform includes a module called TrustOps that automates various time-consuming compliance tasks. It can connect to a company’s internal systems and automatically implement the necessary cybersecurity controls to comply with standards such as SOC 2. In addition, TrustOps can run automated tests to verify if a system meets compliance requirements.

Because companies often require the software products they purchase to adhere to standards such as SOC 2, compliance is an important element of a SaaS company’s sales strategy. A SaaS provider must demonstrate to potential customers that it complies with relevant cybersecurity standards. The more efficiently this task is performed, the more efficient a SaaS provider’s sales process becomes.

Along with the TrustOps module, Kintent’s platform includes a second module called TrustShare that helps technology companies share compliance data with customers. With TrustShare, a SaaS provider can automatically generate a website with detailed data about their compliance efforts. This website may be shared with potential customers to help them make product evaluations more conveniently.

SaaS providers are often asked by companies to answer questionnaires about how they implement cybersecurity controls in their infrastructure. Kintent’s platform includes a tool called Response that uses artificial intelligence to automatically suggest answers for compliance questionnaires. The AI ​​generates suggestions based on previous responses and compliance data that a SaaS provider saves on the Kintent platform.

Since its launch in 2020, Kintent has built a customer base that includes more than 60 companies. Kintent’s clients include $6.3 billion artificial intelligence provider DataRobot Inc. and Snyk Inc., a code security startup that is reportedly preparing to go in public with a valuation of more than 8,600 million dollars.

Image: Kintent

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