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Today, compliance-as-a-service platform, Trustero, launched from stealth with $8 million in seed funding. The solution provides users with real-time compliance monitoring for SOC 2, a voluntary compliance standard for service organizations.
The solution automatically tests controls and alerts users with remediation instructions when a system or process violates regulatory compliance. It helps ensure that enterprises are protected from vulnerabilities and security risks that otherwise could put the organization in danger of being targeted by attackers.
Mitigating risk in hybrid working
Widespread cloud adoption throughout the industry has positioned compliance monitoring solutions to similarly become increasingly important for enterprises to adopt. This particularly comes as COVID-19 has contributed to the widespread adoption of remote and hybrid offices outside traditional perimeter network defenses.
As a consequence, IT teams have no guarantees that employees working from home are implementing the latest best practices to protect enterprise data, which raises the chance of security breaches and compliance violations.
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Trustero has set out to solve this problem by helping enterprises to gain more transparency in SOC 2 compliance gaps to ensure there are not vulnerabilities or information at risk of theft from cybercriminals.
“We help users become SOC 2 compliant and keep them in compliance. We also fill the current gaps between the users and their auditors. Tools today are mainly for users. We have worked alongside auditing firms to understand the way they work and added features into Trustero that help them become a trusted advisor and increase audit efficiencies for them,” said Kimberly Rose, Trustero’s vice president of marketing and business development.
Solving the challenge of governance, risk and compliance
Trustero is the latest company joining a growing governance, risk and compliance market, which researchers anticipate will achieve a valuation of $96.88 billion by 2028 as organizations attempt to keep up with ever expanding security demands.
The organization is competing against security and compliance automation solutions like Drata, which offers continuous compliance with SOC 2, ISO 27001, PCI DSS, and HIPAA and recently raised $100 million as part of its series B funding round.
Another competitor aiming to solve the challenge of GRC is Vanta, a security monitoring platform which offers automated security monitoring and auditing for SOC 2, HIPAA, ISO 27001, PCI, and GDPR compliance, which raised $50 million in a series A funding round last year.
With increasingly tight competition, Trustero has turned to AI and automated remediation recommendations to differentiate itself from other providers.
“Unlike any other platform, if issues arise, Trustero[‘s] software-as-a-service (SaaS) utilizes AI to provide remediation suggestions on how to fix the problem. In addition, as the software gets smarter over time, we can pinpoint what other companies have presented to auditors that enabled them to meet compliance,” Rose said.
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