Data compliance startup Anecdotes raises $5 million to scale its enterprise platform
Data compliance startup Anecdotes, which provides enterprises with a SaaS information security platform, today announced a $5 million dollar seed round co-led by Aleph and Glilot Capital. The company plans to use the capital to speed enterprise adoption of its platform.
Founded in 2019, Anecdotes aims to streamline and scale IT leaders’ compliance efforts. The company expands on the market’s existing solutions, which automate Server Message Block (SMB) compliance demands, with additional features to collect data evidence, manage multiple compliance frameworks at once, and visualize audits for easier interaction and sharing. The company claims its compliance offering is the first enterprise-grade solution on the market.
Enterprise users start with Anecdotes’ automated data evidence collection. Customizable plug-in integrations for Cloud and SaaS products like AWS, Snowflake, Cloudflare, and GitHub can collect data from multiple sources, depending on what an enterprise IT team is already using. Other plug-ins assimilate file management tools — like Google Drive — so users can access up-to-date policies and documents on Anecdotes.
Anecdotes continuously collects and maps data in the background while translating it into a dashboard. The synchronized dashboard simplifies data and visualizes it for review by team members — including compliance professionals, internal stakeholders, and auditors. And an in-app messaging system allows teams to discuss audits and receive notifications about any gaps.
The Anecdotes platform builds on its stored data, normalizing it to satisfy new audits and manage all selected frameworks in one place, including SOC 2, ISO 27001, and PCI-DSS.
In a press release, Anecdotes cofounder and CEO Yair Kuznitsov called the funding “a crucial step to enable us to quickly help more enterprises in a market with an urgent need for our solution.” He added “The status quo is costing a tremendous amount of time and money, which we’re able to drastically reduce while ensuring [security].”
Anecdotes predicts that information security compliance spending in the U.S. will increase from $30 billion to $60 billion over the next four years. Early clients include Lemonade, Fiverr, and Appflyer, and the funding round was joined by industry leaders like former Google CISO Gerhard Eschelbeck.
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