- Cloud compliance software provider Shujinko announced it raised $7.5 million in Series A to accelerate the development of its SaaS platform
Shujinko — a provider of cloud compliance software — announced it raised $7.5 million in Series A to accelerate the development of its SaaS platform which dramatically reduces the cost and time of building and maintaining compliance in the public cloud. Unusual Ventures led the round with participation from Defy and key angel investors.
Shujinko was founded by cloud compliance experts CEO and Scott Schwan and CTO Matt Wells — who have led large scale audits at companies like Starbucks, Tommy Bahama, Taco Bell, Dunkin’ Donuts, and Red Lobster.
“The current way our customers prepare for their audits is antiquated, time-consuming, and painful,” said Schwan. “We are building software to simplify and automate compliance in the cloud, enabling our customers to save thousands of hours, and accelerating cloud compliance to match the speed of modern cloud development.”
Shujinko was originally incubated and spun out from Pioneer Square Labs. And it has raised $10.3 million in total capital to date. And Shujinko’s approach unifies cloud compliance know-how with automation to make compliance and audits faster and easier for CIOs, CISOs, and CTOs.
“There’s no better team to solve the increasing regulations and compliance demands facing cloud-based enterprises,” added John Vrionis, managing partner at Unusual Ventures. “Scott and Matt have experienced the pain of building and maintaining compliance for large retailers—like Starbucks— firsthand and as builders, have a keen understanding of the product that is very much needed in the market. The execution and traction that the Shujinko team has achieved in a year is impressive and we’re excited to continue to partner with them during their next phase of growth.”
Shujinko works with customers to confidently prepare for an audit by automating the vast majority of the technical controls and documentation that historically takes companies thousands of hours to complete. And using Shujinko, customers can achieve SOC 2 compliance in AWS in a matter of days compared to months. This is done without consuming thousands of hours of critical people time for compliance.
“Shujinko’s software is disrupting the huge market for traditional enterprise compliance and we are pleased to partner with them as they scale,” explained Neil Sequeira, co-founder and managing director of Defy. “Shujinko has provided their customers with a streamlined, effective way for them to rapidly adopt the cloud while maintaining compliance. Shujinko’s founders Scott and Matt continue to solve complex problems for leading companies and we are thrilled to continue to support them.”
Shujinko has a mission to help customers get to market faster by leveraging its SaaS platform to construct secure and compliant cloud environments while simultaneously providing line of sight for their customers’ IT audits.
“Raising this round will also enable Shujinko to continue to hire top engineering talent,” commented Wells. “If you are interested in solving tough problems and want to work in a vibrant and fast-paced engineering team, we are hiring!”
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