Melbourne-based regtech 6clicks has secured $10 million in Series A funding, which will see the AI-powered governance risk and compliance (GRC) platform further invest in technology and its worldwide partner ecosystem.
Led by specialist venture capital firm, Centerstone Capital, which is focused on technology enabled businesses in the professional services industry, the capital injection will be used to accelerate growth through investments in 6clicks’ next-gen GRC cyber platform, its worldwide customer base, partner network, content and third-party apps.
Since its launch in mid-2019, 6clicks has been used by both businesses and advisors, with more than 3000 users and 80 partners now on board. The startup raised $2.2 million in July 2020, following by another $5 million in December 2021.
The company was founded by CEO Anthony Stevens, who joined forces with chief product officer Louis Strauss and chief security officer Andrew Robinson with a single mission: to build a platform that would streamline risk and compliance.
Stevens says 6clicks’ AI capabilities and advanced reporting is changing how organisations manage their governance, risk and compliance framework, obligations and processes.
“It’s such an exciting time. Our business has quadrupled in the last year, and there are millions of businesses and advisors we can support with our next-generation GRC platform,” he said.
“Risk management is obviously critical for businesses, and the complexity and burden of compliance mean companies need software that’s easy to use.
“I think risk management for businesses more generally is such a hot topic because there’s things like cybersecurity, there’s the environment, there’s privacy, financial, all these different types of risks.
“I think what’s most important is that companies have a border level understanding of risks and opportunities … You need to be aware of risks in order to understand the size of the opportunities out there in the market.”
Stevens says the driving force behind 6clicks’ growth to date is its unlimited user licensing model, integrated content, AI engine, and powerful reporting capabilities.
Former Deloitte global chief strategy officer and global deputy chair and co-founder of Centerstone Capital John Meacock says the company is excited to support 6clicks “as it continues to scale rapidly across global markets”.
In an industry first, 6clicks can be deployed for use within organisations in hours rather than months or years. Furthermore, the 6clicks Hub & Spoke architecture means companies can deploy GRC capability for distributed teams, business functions or operating entities.
Luc Maasdorp, co-founder and managing partner at Centerstone Capital, says firms are increasingly looking to offer different services through tech.
“Professional services firms are increasingly looking to differentiate their offerings through the use of tech, and in that light, we believe 6clicks is uniquely positioned to transform the way GRC services are delivered,” he said.
