SECURITY
SECURITY
SECURITY
TrustCloud raises $15M to boost AI and go-to-market for security assurance
Security assurance platform company TrustCloud Corp. announced today that it has raised $15 million in new funding in a round led by ServiceNow Ventures to accelerate enterprise go-to-market and channel operations and enhance its artificial intelligence capabilities.
Founded in 2018, TrustCloud offers an AI-native security assurance platform that is designed to modernize governance, risk and compliance operations for hybrid enterprises. The platform integrates with more than 100 software-as-a-service and on-premises systems to allow for continuous control monitoring and automated evidence collection to reduce manual workloads and enhance audit readiness.
The company’s platform offers first-party risk assessments by aggregating data from various sources, including cloud and on-premises applications, to evaluate the security of critical systems. The continuous assessment helps organizations identify and mitigate risks proactively.
TrustCloud’s third-party assurance capabilities streamline vendor risk assessments through AI-driven automation that simplifies data collection and document analysis. The result provides contextual insights to reduce manual effort and ensure compliance across internal and external applications.
The platform also includes the “TrustShare” portal, a service that allows businesses to share their compliance programs with customers. The feature prefills up to 85% of security questionnaires using data from past assessments, accelerating sales cycles and building customer trust.
TrustCloud additionally supports key compliance frameworks, such as the Service Organization Control 2, International Organization for Standardization 27001 and the Health Insurance Portability and Accountability Act.
The company has seen solid growth, with over 1,000 business customers relying on it to store and process their highly regulated data. Notable customers include Cribl Inc., Corelight Inc., DataRobot Inc., Dolby Laboratories Inc., Desktop Metal Inc., Grafana Labs Inc., NetApp Inc. and ServiceNow Inc.
ServiceNow Ventures was joined in the strategic funding round by Cisco Investments, Presidio Ventures Inc., OpenView Venture Partners LP and Tola Capital Management.
“Automating enterprise cyber risk management is increasingly mission-critical for CISOs,” said Prasad Parthasarathi, senior director at Cisco Investments. “Trust Cloud’s expertise in delivering visibility and context through its AI enabled continuous controls provides CISOs with an integrated, multi-dimensional view of cyber risk across security, compliance, financial/insurance, regulatory and customer contractual risk.”
Image: TrustCloud
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