Summary:
Delve raises $32M Series A at a $300M valuation led by Insight Partners
Founded by MIT dropouts Karun Kaushik and Selin Kocalar
Pivoted from a medical scribe to AI-powered compliance automation
Customer base grew from 100 to 500 companies in months
AI agents automate compliance workflows, saving hundreds of hours
Plans to expand into cybersecurity and risk management
Delve, an AI-powered compliance startup, has recently secured a $32 million Series A funding at a $300 million valuation, led by Insight Partners. This marks a significant milestone for the young company, which has seen its customer base grow from 100 to over 500 companies in just a few months.
The Journey Begins
Founded by Karun Kaushik and Selin Kocalar, two MIT dropouts with a passion for AI and health tech, Delve started as an AI-powered medical scribe. However, the challenges of HIPAA compliance led them to pivot towards automating regulatory compliance for businesses.
The Pivot That Paid Off
Their pivot not only got them into Y Combinator but also attracted a seed round from notable investors like General Catalyst and FundersClub. The startup's focus on automating compliance workflows with AI agents has resonated with fast-growing AI startups and Fortune 500 companies alike.
L-R: Selin Kocalar (COO) and Karun Kaushik (CEO)
The Technology Behind Delve
Delve's AI agents integrate with customers' tools to automate compliance workflows, including evidence collection, report writing, and audit log updates. This eliminates the need for manual processes, saving businesses hundreds of hours.
Future Ambitions
While compliance is their current focus, Delve aims to expand into cybersecurity, risk management, and internal governance. Insight Partners' investment reflects confidence in this broader vision.
Competitive Landscape
Despite emerging competition from general-purpose AI agents, Delve's domain-specific knowledge gives it a unique edge in the rapidly evolving compliance landscape.
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