Compliance Audit software

Updated: July 30, 2023

Compliance Audit software is a specialized tool that assists businesses in conducting comprehensive and efficient audits to ensure adherence to regulatory requirements, industry standards, and internal policies. These platforms provide features for risk assessment, compliance tracking, and audit scheduling, enabling businesses to plan and execute audits effectively. Compliance Audit software helps identify potential compliance gaps and areas of improvement, ensuring that organizations are in compliance with relevant laws and regulations. With automated workflows and real-time reporting, these platforms streamline the audit process, making it easier to monitor progress and track findings. Additionally, Compliance Audit software often includes features for document management and evidence collection, facilitating the documentation of audit results and recommendations. By leveraging Compliance Audit software, organizations can maintain a strong compliance posture, minimize risks, and demonstrate their commitment to regulatory compliance and best practices in their industry, ultimately enhancing trust and credibility with stakeholders.

See also: Top 10 Antivirus Software

2021. Drata raises $3.2M for its compliance audit platform

Drata, a startup specializing in assisting businesses with SOC 2 compliance, has announced the successful completion of a $3.2 million seed funding round. Drata, much like other similar services, streamlines the evidence collection process by automating various tasks required for SOC 2 audits. The primary focus of the service is to facilitate the testing of businesses against the SOC 2 framework, enabling them to adequately prepare for audits and compile the necessary materials for auditors. Drata achieves this by integrating with a wide range of standard online business tools and cloud services, allowing for the seamless extraction of data on a regular basis. An impressive feature of the platform is its ability to guide users through the different sections of the SOC 2 criteria, providing a clear assessment of their current readiness for an audit.

2021. Cloud security startup Lacework has raised $525M

Lacework, a cloud security startup that offers a solution built on the Snowflake platform, has raised $525 million in its Series D funding round, bringing its total funding to over $1 billion. The company reported a remarkable 300% year-over-year revenue growth for the second consecutive year. Investors and customers have shown significant interest due to the comprehensive nature of Lacework's security solution. It enables companies to securely build in the cloud and covers multiple market categories to meet diverse customer needs. This includes services such as configuration and compliance, infrastructure-as-code security, vulnerability scanning during build time and runtime, as well as runtime security for cloud-native environments like Kubernetes and containers.

2020. Palo Alto Networks to acquire CloudGenix for $420M

Palo Alto Networks has completed the acquisition of CloudGenix for a total of $420 million. CloudGenix specializes in providing a software-defined wide area network (SD-WAN) solution, enabling customers to enhance security by implementing policy enforcement to ensure compliance with company security protocols across various distributed locations. This capability proves particularly beneficial for organizations with numerous branch offices or a widely dispersed workforce, a scenario that has become increasingly prevalent as millions of individuals abruptly transition to remote work arrangements.