The round is co-led by Glilot Capital Partners and Aleph who are joined by angel investors including the former CISO of Google and former CRO of CyberArk.
Tel Aviv, Israel – February 10th, 2021 – anecdotes, the first enterprise-grade compliance solution, announced $5M in a seed round funding co-led by Aleph and Glilot Capital partners with participation from industry leaders including Gerhard Eschelbeck, former CISO of Google, and Ron Zoran, former CRO of Cyberark. The seed round aims to spur faster adoption of the platform amongst mature enterprises and hyper-growth companies with complex compliance, enabling a frictionless experience.
anecdotes’ funding round comes amidst projections that infosec compliance spending will double in the US over the next four years, from $30 billion to $60 billion. This spending comes as compliance costs top $3.5M on average annually and cumbersome, labor-intensive procedures burden compliance teams with months of evidence collection to comply with a single framework. However, most available solutions focus solely on automating the simple compliance demands of SMBs without any cross framework capabilities, leaving enterprises empty-handed.
With anecdotes’ SaaS platform, enterprises in need of a comprehensive, scalable solution for multiple frameworks enjoy onboarding that takes just minutes with instant setup and dozens of out-of-the-box plugins. Once connected, customers gain access to a powerful suite of features, including automated evidence collection from multiple sources in cloud environments and SaaS products, and seamless data normalization, no specialized expertise needed. The platform also provides unified visibility and transparency for everyone involved, from the compliance leader and auditor to the internal stakeholders, which is especially important while working remotely and embracing new regulations.
“We were well aware of the need for our solution, but the response far exceeded our expectations from day one, with several major companies overburdened with compliance issues requesting immediate onboarding,” said anecdotes Co-founder and CEO Yair Kuznitsov. “This funding isn’t just a big vote of confidence from VCs and industry experts, it’s also a crucial step to enable us to quickly help more enterprises in a market with an urgent need for our solution.The status quo is costing a tremendous amount of time and money, which we’re able to drastically reduce while ensuring brands’ trustworthiness and security.”
“anecdotes' first-of-a-kind platform is built to automatically and completely address the infosec compliance market, across all flavors of cloud infrastructure and SaaS products," says Aaron Rosenson, General Partner at Aleph. "It's an instant upgrade to the status quo, and this world-class technical team have tailored their solution equally to both compliance leaders and auditors."
"anecdotes solves one of the most profound infosec compliance challenges organizations face today," said Kobi Samboursky, Co-Founder and Managing Partner from Glilot Capital Partners "The company is uniquely positioned to disrupt the compliance ecosystem, which is why some of the world's leading enterprises rely on anecdotes' innovative solution."
The company was founded in the first half of 2020, by Yair Kuznistov, CEO, Roi Amior, CPO and Eitan Adler, CTO, with headquarters in San Fransisco, USA, and R&D offices in Tel Aviv, Israel.
At anecdotes, we empower compliance leaders with innovation by streamlining their infosec compliance efforts.
The anecdotes compliance platform is the first enterprise-grade solution to automate the tedious, unreliable manual work of the evidence collection process, lifting the compliance burden off your organization. Our plug and play platform continuously collects and maps relevant data into normalized, credible evidence and offers advanced visibility and data sharing to ensure the best collaboration between the compliance leaders and the auditors.
Trusted by large global enterprises like Lemonade, Fiverr and AppsFlyer and backed by top VCs, anecdotes strives to help compliance leaders scale their compliance efforts with ease.