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Today, we’re excited to announce our $35 million Series B led by JPMorgan. You can read all about it in our press release and how our team has built the industry’s first complete compliance-as-a-service platform.
The Series B round was led by JPMorgan Growth Equity Partners with participation from PayPal Ventures as well as existing investors Canapi, Bain Capital Ventures, Third Prime, and Nyca Partners.
Laika has big plans
A little over two years ago, I met Sam Li for an early breakfast in Greenwich Village. We led startups before, and we spent the morning swapping tales from the trenches, reveling in positive moments and bemoaning our many founder missteps. We covered a lot of ground. But the conversation kept returning to the stumbling blocks we had each struggled with as founders.
We believe that the need to manually read and (attempt to) interpret requirements across standards like SOC 2, ISO 27001, HIPAA, and others is a huge part of the problem. And don’t forget, the process of demonstrating after the fact is a painfully ambiguous and tricky equation.
We believe that the optimal solution would guide you through the adoption of proper compliant operations, prescribing what your business needs to do to comply, and giving you tools to costlessly demonstrate your compliance to anyone. That’s precisely the platform we sought to build.
Eva Pittas, Sam Li, and I started Laika in 2019, determined to create the most elegant, expert-enabled compliance solution. Laika has since achieved 4.5x ARR growth YOY, including 4x YOY customer growth; and we have 100+ full-time employees with the aim to double that headcount in the coming year.
A big thank you to all early adopters for their rich feedback. We couldn’t be more pleased to open access to a wider audience and introduce more teams to a dramatically improved compliance experience not found anywhere else!
So, now what?
Laika has a differentiated solution in a busy compliance solution landscape.
We couldn’t be more excited about where we are now and where we can take the biz next. Given consistent momentum and overwhelmingly positive response, we decided to take additional investment to expand our audience while continuing to serve customers with the same bar for quality and consistency that we committed to on day one.
Laika will use the funding to develop additional automation, integrate audit experiences into the platform, build out its team, and extend the company’s growth and momentum in the market.
In addition to the new funding, Topher Dawe will be joining Laika’s Board of Directors. Topher is a Managing Partner and Head of Growth Equity Partners at J.P. Morgan Private Capital, which he joined in June 2021.
Topher and his team at JPMorgan impressed us immediately with their level of prep and familiarity with the space, and he shares our excitement for and commitment to our unique vision to embed expert services within our solution. We were fortunate to have many options for investors to work with. But the combination of our excitement to work with Topher and JPMorgan as we continue to scale and mature made for an easy decision.
Welcome, Topher and JPMorgan Growth Equity Partners!
Our team is growing quickly and we’re hiring across departments and functions. Laika is constantly looking for entrepreneurial, passionate people to join our team. Check out our openings or reach out to learn if Laika is the company for you.