Growth

We’ve Raised a Series A!

September 23, 2020

The Founders

Sam, Eva, and Austin started Laika nearly two years ago with the aim to build the most elegant and comprehensive solution for managing compliance in the world. And today we’re announcing our Series A financing to continue to fuel product development and accelerate growth to reach more customers.

Laika's Series A

Jeffrey Reitman of Canapi Ventures led this fundraising round and has joined our board. Jeff has been a mentor and meaningful contributor to the founders and the team since before the company’s inception. We are beyond delighted to make his relationship to Laika official and to have him in the boardroom. Welcome, Jeff!

Rebooting compliance

We conceived Laika in the wake of our individual journeys as entrepreneurs and our shared frustration with compliance obstacles. The few solutions that did exist were outdated, tired, and lacked imagination compared to contemporary technologies. 

The ideal solution—the one we want ourselves—would be beautiful and intuitive and would espouse collaboration, automation, integrated tooling, and user education as core design principles. That’s what we set out to create.

Compliance is non-optional

Compliance is a critical organizational capability for startups whether they know it (or want to believe it). 

SaaS companies are held to account for laws and regulations that bear significantly on operations and technology. And no major project—a SaaS contract, a business development deal, a product partnership—gets approved by savvy enterprises without a thorough legal and compliance review, and an extensive security assessment. In other words, to ignore compliance is to court danger and a reliable way to limit growth potential with larger customers.

As we wrapped our minds around designing a more perfect system to tackle compliance, we were faced with solving some basic challenges:

  • Adopting stage-appropriate compliance should not be rife with tedious and manual processes, confusing terminology, or ambiguous guesswork. 
  • It should not take twelve months to undergo a SOC 2 or ISO 27001 audit. 
  • It should not require racking up endless billable hours with expensive consultants and lawyers. 

Introducing Laika, an expert-in-the-loop compliance platform for modern businesses

Laika is a software-and-service compliance solution that combines elegant software, automation, and expertise. 

Compliance Tools Reimagined

We’ve worked closely with our early customers to deliver a full-featured platform that focuses exclusively on what we view as three essential organizational capabilities required for effective compliance: 

  1. implementation of compliant policies and controls, 
  2. maintenance & day-to-day oversight of compliant operations,
  3. and audit-ability & verifiability capabilities to build trust with customers & partners in the marketplace

Laika supercharges all three by combining smart automation with thoughtfully designed workflows into a turnkey compliance solution for modern companies. 

Our platform provides a TurboTax-esque experience to help you implement stage-appropriate internal controls that meet widely-adopted standards, including SOC 2, ISO 27001, HIPAA, and more. Out of the box, users get a wide range of easy-to-use tools to manage their compliance program implementation:

  • Customize controls with stage-appropriate guidance from Laika and get audit-ready in weeks, not months 
  • Manage policies and procedures 
  • Document controls automatically to ensure audit readiness. 
  • Demonstrate compliance practices for security reviews with enterprise customers or partners
  • Equip front-line sellers and BD teams to respond immediately to security questionnaires without the internal ping-ponging of emails among legal, finance, and security teams

Expert-in-the-loop

Compliance is nuanced. From SOC 2 to ISO 27001 to unique enterprise security assessments, standards are varied which makes judgment and interpretation unavoidable. That’s why Laika pairs customers with an expert information security officer on our Concierge team. 

Laika Concierge managers establish compliance roadmaps each year, quarter, and month to ensure compliance responsibilities are completed and executed correctly. They have powerful tools designed specifically to manage compliance programs effectively without tedious, manual, error-prone, or time-consuming work. 

Why us? Why now?

Laika Founders

While building our previous startups, Sam and Austin struggled with security audits for SOC 2, HIPAA, and enterprise procurement questionnaires. We suffered from delayed products, missed partnerships, and lost enterprise deals due to perceived and actual compliance and maturity concerns of various stakeholders. 

Meanwhile, Eva sat across the table from founders just like Sam and Austin as a Managing Director, overseeing global risk and compliance functions for Citigroup. She saw business lines within the bank desperate to adopt new technologies, struggling to close deals with cutting-edge SaaS and infrastructure providers due to weak security and organizational controls. 

With more regulations every year, the bar is only getting further out-of-reach for vendors and enterprise buyers. No solution translates complex security requirements into plain-language startups understand. We are the right team to deliver it.

What’s next?

A big thank you to our early customers! We would not be here without you pushing us to improve and to strive for perfection. 

We are in the early innings and have so much to do. Stay tuned for updates—we are shipping new features every day. Our roadmap is ambitious and includes tools for preparing for and navigating audits, more intelligence in our automation, and an ever-expanding list of cloud and SaaS integrations, and much more to come.

Laika GIF - Find & Share on GIPHY

Want to learn more?

Looking to accelerate your path-to-compliance? Keen to help us build an entirely new way to manage compliance? Give us a shout at hello@heylaika.com.

Best,

Austin, Sam, Eva, and Team Laika