Trustero, a provider of AI-powered security and compliance solutions, announced the close of a $10.35 million Series A funding round on Thursday.

Founded in 2020, Trustero’s Compliance-as-a-Service (CaaS) platform can streamline audits and leverage artificial intelligence to help organizations establish and manage regulatory compliance, including vulnerability assessment and security risk analysis.

The company emerged from stealth mode in March 2022 with $8 million in funding and has been on a mission to help companies reduce compliance cost and handle time-consuming GRC tasks such as gap analysis, remediation guidance, questionnaire automation, and evidence collection.

The Series A round was led by Bright Pixel Capital (formerly Sonae IM), with participation from existing investors Engineering Capital, Zetta Ventures Partners, and Vertex Ventures US.

“Companies are overwhelmed by the growing compliance demands driven either by evolving regulations or increasing customer compliance requirements. With Trustero, compliance and security teams go beyond simple compliance automation, by having a human-like AI-advisor that interprets not only the controls but also the evidence, in a manner comparable to how a human would,” explained Daniela Coutinho, Manager at Bright Pixel Capital.

The new capital will be used to support product development, scale operations, expand market reach, and hiring additional talent.

Trustero’s founder and CEO, Phillip Liu previously founded cloud monitoring solutions firm SignalFx, which was acquired by Splunk for more than $1 billion.