Laika, a NYC-based compliance-as-a-service platform, raised $35m in Series B funding.
The round was led by J.P. Morgan Growth Equity Partners with participation from PayPal Ventures and all existing investors including Bain Capital Ventures, Canapi, Dashfund, Nyca and ThirdPrime.
The company will use the funding to develop additional automation, integrate audit experiences into the platform, build out its team, and extend its growth in the market.
Co-founded by Austin Ogilvie, Eva Pittas, and Sam Li, Laika provides a SaaS platform for companies to establish compliance practices to meet requirements from regulators and enterprise customers. The platform combines automated infosec workflows, audits, monitoring and vendor due diligence while customers are supported by subject matter experts at every step of the compliance process.
Laika currently has 100 employees and expects to grow headcount by approximately 120 in the next 12 months.
In addition to the new funding, Christopher (“Topher”) Dawe, Managing Partner and Head of Growth Equity Partners at J.P. Morgan Private Capital, will be joining Laika’s Board of Directors. Mr. Dawe joined J.P. Morgan Private Capital in June 2021 to lead the newly-established Growth Equity Partners. Patrick McGoldrick, Partner at J.P. Morgan Growth Equity Partners, will serve as a board observer to the Laika Board of Directors.