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Additionally, the capital will help Laika expand its business presence on the West Coast of the United States (US) and in the Asia-Pacific region. The new hires will be largely concentrated in Laika’s sales and customer experience departments. The company plans to use the new funding to add 120 new employees over the next 12 months. The compliance tech startup also announced that Managing Partner and Head of Growth Equity Partners at JP Morgan Private Capital, Christopher Dawe, will join the board of directors. The funding round was led by JP Morgan Growth Equity Partners with participation from PayPal Ventures, ThirdPrime, Bain Capital Ventures, Dashfund, Canapi, and Nyca.
#Laika compliance series#
In its Series B funding round, Laika raised $35 million in capital.
#Laika compliance software#
The rapid business expansion of Laika has helped garner attention from several investors who expect to see further growth from the company as the demand for compliance software solutions increases. The compliance tech startup currently employs 100 different workers across all departments. Additionally, Laika has grown its customer base by nearly 4x over the same time frame.
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In fact, the company has experienced year-over-year growth in annual recurring revenue of 4.5x. The customizable software tools and on-call expert guides have helped the compliance tech startup rapidly grow its business. Laika has now trained over 3,000 employees in security certification courses. By implementing the skills from the certification courses, users can better protect their information and that of their customers from potential threats. Outside of managing business regulations, the compliance tech startup can also help users obtain security certifications. Furthermore, the company automates certain parts of its software to help users save money and time for regulatory tasks that can be easily accomplished. The company offers the Laika Concierge service, which customers may use should they have any questions or need help navigating the software’s interface. In addition to the company’s task management page, Laika provides each business owner with a customized experience by making it easy to mold the software to the customer’s specific regulatory needs.Īll users also have access to a network of Laika compliance and regulations experts for assistance. Laika Compliance Software and Business GrowthĬompliance tech startup Laika leverages its software to break down regulatory tasks and obligations into easy-to-digest tasks that can be completed at the leisure of the user. The company recently closed its Series B funding round to help grow the business. Laika is a compliance tech startup that has built a software solution to help business owners meet industry regulations and stay current with modern codes for less.