# Clonect

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/clonect

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.clonect.com
- Total disclosed funding: $0.6M
- Latest round: Series A (Nov 25, 2016)
- Investors on record: 2

## About

Clonect specializes in Governance, Risk, and Compliance (GRC) solutions, providing advanced technology to assist mid to large corporations in managing compliance effectively and efficiently across various industries.Clonect is a technology company focused on delivering Governance, Risk, and Compliance solutions. Founded in Bangalore, India, Clonect has successfully raised INR 41.61 mn in Series A funding from investors including ThinKuvate and 3one4Capital Advisors. The company was established with a vision to simplify compliance processes for businesses. As of now, Clonect has engaged in two deals, with its most recent funding round occurring on November 25, 2016. The company is valued at approximately USD 6.36 mn. The founding team has not been publicly detailed, and there are no known pivots in the business model or operational changes.Clonect offers a comprehensive suite of Governance, Risk, and Compliance (GRC) solutions tailored to meet the compliance needs of mid to large corporations. Its core products include the Compliance Management System (CMS), Audit Management System (AMS), and Labour Compliance Services (LCS). The CMS provides a customizable platform for managing compliance processes, while the AMS digitizes vendor audits with tailored checklists. Clonect's solutions are designed for diverse sectors including manufacturing, healthcare, and finance, primarily within its strong base in India and its expanding international reach.Clonect operates on a subscription-based revenue model, where clients enter into annual or multi-year contracts for its GRC solutions. The company caters primarily to medium to large enterprises, enhancing their operational efficiency through its offerings. Revenue is generated from subscriptions to the CMS, AMS, and LCS, with options for additional fee-based services such as compliance consultations and audits. The flagship products are integral to Clonect's revenue generation strategy, addressing the critical compliance needs of organizations in complex regulatory environments.Following its most recent funding round in November 2016, where Clonect raised INR 41.61 mn, the company plans to invest in the development of new products aimed at enhancing its GRC offerings. There are ambitions to expand into additional geographic markets beyond India, targeting specific industries and sectors, though exact regions and timelines have not been disclosed. The recent investment will be utilized to support these product development initiatives and market expansion efforts.

## Funding rounds

- Series A, Nov 25, 2016, $0.6M — 3one4Capital Advisors, ThinKuvate

## Investors

- 3one4Capital Advisors (https://capitalatlas.ai/funds/3one4capital-advisors) — Series A
- ThinKuvate (https://capitalatlas.ai/funds/thinkuvate) — Series A