Compliance automation start-up Sprinto raises $10 mn in Series A funding

Since its website launch in June 2021, Sprinto claims to have doubled its annual recurring revenue over the last 10 weeks

Sprinto, a compliance automation platform for SaaS companies, has raised $10 million in Series A funding led by Elevation Capital with participation from Accel, and Blume Ventures.

The funding will be used for team expansion across key functions and R&D to ensure long-term growth. Earlier, in January 2020, the company had raised $1.5 million in seed funding from Blume Ventures. Sprinto will ramp up hiring and also open its first North American office, in Utah, by this quarter’s end.

Since its website launch in June 2021, Sprinto has grown rapidly, doubling its ARR (annual recurring revenue) over the last 10 weeks alone.