AuditCue, a Chennai-based startup specializing in audit and risk SaaS solutions, has successfully secured $1.5 million in a seed funding round, with Kalaari Capital as the lead investor. Additional contributors to this funding round include Java Capital and angel investors based in San Francisco. The fresh capital injection will be allocated towards further product development, expediting the go-to-market strategy, and expanding the engineering team.
Established in 2022 by Gaurav Kulkarni and Naren Janakiraman, AuditCue offers a platform that streamlines, guides, and harmonizes all activities within the audit lifecycle. AuditCue revolutionizes the audit and risk experience for both auditors and auditees. The startup enhances customers’ audit and risk programs, accelerates audit cycles, and boosts process resilience without sacrificing agility. What distinguishes AuditCue from traditional solutions and established players in the market is its elegant, simple, and intuitive user experience, combined with its adaptable and modular platform.
Gaurav Kulkarni, Co-founder and CEO of AuditCue, explains, “AuditCue is built for CISOs in regulated markets who keep pace with multiple compliance regimes. Unlike legacy solutions or automation products, AuditCue removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs. We are transforming the risk & audit experience for our customers to make audits seamless. With this funding round, we aim to expand further into our primary geographic markets of North America, India & EU.”
Vani Kola, Founder and Managing Director of Kalaari Capital, adds, “The $120B global audit and GRC market is ripe for disruption with new-age tools. The founding team brings complementary skills and we are excited to back their vision.”
AuditCue has been operating in stealth mode until now, collaborating with industry experts and advisors to reimagine how risks, audits, and controls can effectively work together. With this funding round, the company is gearing up to provide access to its solution for companies seeking a more efficient way to manage risks and compliance.
Companies recognize the significance of a robust risk and audit program, yet many continue to struggle when it comes to finding the right solution for implementation. Legacy solutions tend to add complexity to processes rather than simplifying them, while other established players often employ a one-size-fits-all approach. However, companies require a customized approach to risk management and a solution that is flexible enough to address their unique challenges and requirements, which is precisely what AuditCue is dedicated to building.
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