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Stripe backer invests in $3.1M round of Oslo-based compliance automation startup Kosli

Kosli team
Image credits: Kosli

Kosli, a developer tools startup based in Oslo, Norway, has grabbed $3.1 million in seed funding. The round was led by Heavybit to solve dynamic change monitoring and continuous compliance. This news comes on the heels of Heavybit’s own announcement of a new $80 million fund a few weeks back.

Heavybit is a leading investor in developer-first startups with a portfolio that includes Mobot, Snyk, Stripe, and others. It was joined by Fortino Capital and Monochrome Capital alongside pre-seed backer Skyfall Ventures as follow-on investors.

Heavybit Partner, Joe Ruscio, explained Heavybit’s decision to invest, “Since our first meeting with the Kosli team we strongly believed in a much bigger market opportunity that expands beyond regulated industries and serves a need for DevOps teams in every single vertical of the global economy.”

Kosli founder and CEO, Mike Long, explained the double-sided problem that his team have solved, “We set out to automate compliance for regulated teams, but we quickly realized our tool was also really helpful for developers trying to understand how and why their environments are really changing.”

Alex Kantor, Director of Technology at Modulr Finance, described how it is used in their organisation. He said, “Kosli gives us more than just a single pane of glass view. Checks, gates, and the segregation of duties can be proven within the development team, enabling them to self-serve. The time it takes from requesting a deployment to it actually happening has decreased significantly. By implementing Kosli the squads are able to release themselves.”

Developer first with enterprise compliance

Kosli was founded in 2019 by Mike Long in Oslo as a compliance automation platform for regulated software teams in sectors like finance. It has Kosli launched a free tier that offers a much broader set of use cases.

Developers in all industries will now be able to use Kosli to understand how constantly evolving software systems are changing. Kosli gives every stakeholder the power to record, connect, and search for changes across their entire value stream. It empowers developers, DevOps engineers, platform engineers, and CTOs in both daily and longer-term strategic tasks.

With Kosli, developers have the power to pinpoint specific changes without having to spend hours searching in logs. And for teams in regulated sectors, Kosli provides an automated trail of compliance evidence. Crucially, Kosli is available from the command line as well as a web-based GUI, an important feature for developers.

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