Insider Brief
- anecdotes, an enterprise GRC technology leader, has secured $25 million in Series B funding, bringing its total raised capital to $55 million, with new investors Vertex and DTCP joining the round led by Glilot Capital Partners.
- The company has tripled its Annual Recurring Revenue in the past year, driven by U.S. customer base expansion with clients like Lifelabs, Snowflake, and Coinbase, following a $25 million Series A round in February 2022 that fueled the development of innovative applications within the Compliance OS.
- The funding will be used to introduce new data-driven innovations in GRC, including the anecdotes AI Toolkit, and to expand in markets like the US, EMEA, and APAC, while enhancing partnerships with firms like Deloitte and Coalfire and increasing its technology integrations.
PRESS RELEASE — TEL AVIV, Israel and PALO ALTO, Calif./ January 9, 2024 /PRNewswire/ — anecdotes, an innovative leader in enterprise GRC (Governance, Risk and Compliance) technology, today announced that it has closed $25 million in a Series B round of funding, elevating the total capital raised to $55 million. Notably, Vertex and DTCP have joined as new investors, underscoring their belief in anecdotes’ unique enterprise offering and the motion of global expansion.
The round was led by Glilot Capital Partners, with strong support of existing investors Red Dot Capital Partners, Vintage Investment Partners, and Shasta Ventures, is a testament to the company’s resilience and outstanding traction, even amid market challenges. anecdotes has more than threefold its Annual Recurring Revenue (ARR) over the past year, primarily driven by the expansion of the US customer base, which now includes prominent names such as Lifelabs, Snowflake, Coinbase, Aristocrat, SoFi, Grafana, Payscale, and more.
This financial milestone builds on the $25 million Series A raised in February 2022, which fueled the development of innovative applications and deep data capabilities within the Compliance OS to meet the needs of modern enterprises. Notable capabilities include a robust Analysis Engine and Playbooks that empower each of the existing and new GRC applications, GenAI toolkit, frameworks, audit, policy and risk management, user access review, and more.
Founded in 2020 by Yair Kuznitsov and Roi Amior with offices in New York, San Francisco and Tel Aviv, anecdotes is redefining compliance and risk management by transforming it from a labor-intensive task into a data-driven driver for business growth. Its Compliance Operating System streamlines data collection into modern GRC applications, addressing diverse compliance and risk needs and capitalizing on its flexibility thanks to proprietary integrations with widely used enterprise platforms such as Azure, PagerDuty, Datadog etc.
“Partnering with anecdotes has transformed our approach to security compliance,” said Mike Melo, CISO at LifeLabs. “Relying on the Compliance Operating System has not only streamlined our processes but has also transformed our security compliance approach into a live reflection of our corporate risk management.”
“At Snowflake, by leveraging anecdotes’ compliance technology we unlocked data sets that can now be utilized in our compliance program enhancing efficiency and continuity. Their platform’s ability to integrate seamlessly with our existing tools and bring credible data sets has been invaluable,” added Mario Duarte, VP Security at Snowflake.
The successful closure of the Series B funding will empower anecdotes to introduce new data-driven innovations to the GRC landscape, such as the anecdotes AI Toolkit which provides a comprehensive list of risks, controls and policies to securely integrate Generative AI capabilities. This funding will not only fuel expansion into vital markets across the US, EMEA, and APAC regions but also enhance engagement of its successful partnerships with Deloitte, Coalfire, Google as well as many others.
Since its last funding round, anecdotes has significantly expanded its technology partnerships, now featuring over 120 integrations with essential platforms in identity, security, collaboration, ticketing, and cloud infrastructure. The firm’s presence on key marketplaces like Google Cloud Marketplace and Amazon Web Services amplifies its reach. Additionally, anecdotes has broadened its ecosystem, establishing relationships with dozens of channel partners and advisory firms.
“Our commitment remains steadfast: to empower businesses with cutting-edge solutions, fostering a safer and more compliant digital world. As we embark on this exciting new chapter, we are grateful for the trust of our investors and partners, and we look forward to delivering transformative value to our clients and the industry at large,” says Yair Kuznitsov, CEO, anecdotes.
About anecdotes
anecdotes is the leading technology provider for Compliance leaders. Powered by data, the anecdotes Compliance Operating System (OS) transforms security Compliance from a box-ticking exercise into a powerful driver of growth. With a variety of applications powered by verified data, Compliance leaders as well as advisory firms and auditors, can turn manual, time-consuming, and siloed tasks into an automated, continuous, and strategic Compliance program. That’s why some of the world’s largest enterprises and fastest-growing brands use anecdotes. For more information, visit anecdotes.ai.
