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Chennai-based AuditCue, an audit & risk SaaS startup, has raised $1.5 million in a seed funding round led by Kalaari Capital, with participation from Java Capital and San Francisco-based angel investors.
According to the company's statement, the raised capital would be utilized towards product development, accelerating the go-to-market strategy, and growing the engineering team. The startup also aims to expand its presence in primary geographic markets of North America, India and the EU.
What does AuditCue do?
Founded in 2022 by Gaurav Kulkarni and Naren Janakiraman, AuditCue calibrates, guides and streamlines all actions that are part of an audit lifecycle.
The startup transforms the risk & audit experience for auditors and auditees both. It elevates customers’ audit & risk programs, speeds up audit cycles and improves process resiliency without compromising on agility.
Gaurav Kulkarni, Co-founder & CEO of Auditcue, said, “AuditCue is built for CISOs in regulated markets who keep pace with multiple compliance regimes. Unlike legacy solutions or automation products, AuditCue removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs. We are transforming the risk & audit experience for our customers to make audits seamless.
Vani Kola, Founder & Managing Director of Kalaari Capital, said, “The $120B global audit and GRC market is ripe for disruption with new-age tools. The founding team brings complementary skills and we are excited to back their vision.”
AuditCue emerges from stealth mode
AuditCue, which has been in stealth mode, was working with industry experts and advisors to reimagine how risks, audits and controls work together.
With this round, the startup is gearing up to open up access to solutions for companies that are looking for a better way to manage risks and compliance.
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