Daptic has raised a $15 million Series A led by Canvas Ventures, bringing total funding for the product compliance technology company to $22 million. IA Ventures and 8VC also participated in the round, along with other investors. As part of the financing, Rebecca Lynn of Canvas Ventures and Brad Gillespie of IA Ventures are joining Daptic’s board.
Daptic develops a product compliance lifecycle management platform that brings regulatory requirements into the product development process rather than addressing them only near the end of a product launch.
The company’s software helps regulatory, legal, engineering, and specialist teams determine which regulations apply to products, interpret those rules, and convert them into product requirements.
Daptic then connects those requirements with the specific products, employees and teams responsible for implementing them.
The company believes incorporating regulatory considerations earlier in product development gives manufacturers more flexibility in design decisions while reducing the risk of late-stage compliance problems.
Daptic plans to use the Series A to continue developing its platform and support larger customer deployments across broader teams and product portfolios.
KEY QUOTES:
“We built Daptic around a simple idea: regulatory requirements should be part of product development from the beginning, not a compliance gate at the end.”
“Today, bringing a physical product to market requires regulatory, legal, engineering and specialist teams to work together across an increasingly complex set of requirements. Daptic gives those teams a shared system for doing that work.”
“Our product compliance lifecycle management platform helps teams understand which regulations apply, interpret what they mean, turn them into actionable product requirements and connect those requirements to the products and people they affect.”
“Bringing that work into product development earlier gives teams more time and flexibility to make informed design decisions.”
“With this funding, we’ll continue investing in the platform and supporting customers as they deploy Daptic across larger teams and product portfolios.”
Daptic statement
