Audit and risk software-as-a-service (SaaS) startup AuditCue on said it has raised $1.5 million in a seed funding round led by Kalaari Capital, according to ETtech report.
Other investors who participated in the round included Java Capital and angel investors from San Francisco.
The company said the funds would be allocated towards product development, accelerating its go-to-market strategy, and expanding the engineering team.
Founded in 2022 by Gaurav Kulkarni and Naren Janakiraman, AuditCue speeds up audit cycles and improves process resiliency.
With this round, the company is gearing up to allow companies that are looking for a better way to manage risks and compliance access to its solution, it said in a statement.
“With this funding round, we aim to expand further into our primary geographic markets of North America, India and EU,” said cofounder and CEO Gaurav Kulkarni.
Commenting on the investment, Kalaari Capital founder and managing director Vani Kola said, “The $120 billion 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.”
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