Karun Kaushik and Selin Kocalar, who started the “Delve” startup while studying at MIT, have rapidly developed their company and secured new investment. This startup uses artificial intelligence to automate companies' compliance work with regulations and laws.
After initially raising $3 million in funding, Delve has now raised an additional $32 million, bringing the company’s total valuation to $300 million. This investment was led by Insight Partners.
Delve helps companies streamline compliance processes with various regulations and standards such as HIPAA (health data protection), GDPR, and SOC 2. For example, the AI automates time-consuming tasks like gathering documents, conducting audits, and preparing reports.
Karun and Selin met as classmates at MIT. They originally worked on an AI assistant to help doctors document patient information, but later expanded their project to develop software that assists many companies with compliance tasks.
The main goal of the company is to minimize these complex and time-consuming tasks, enabling businesses to comply with regulations faster and more easily. In the future, Delve plans to apply this approach to other areas like cybersecurity, risk management, and internal governance.
The head of Insight Partners stated that automating compliance work will help improve all aspects of business operations.
While other companies are also interested in this field, Delve stands out due to its deep expertise and ability to quickly adapt to changing regulations.
Thus, Delve, created by two young founders, has achieved great success by automating some of the most difficult and time-consuming tasks in business using artificial intelligence.
