AI compliance startup Delve has raised $32 million in a Series A funding round, boosting its valuation to $300 million. The round was led by Insight Partners and included participation from several Fortune 500 CISOs.
This marks a major leap for the young company, which raised just $3 million in seed funding in January.
Key Highlights
- Delve raises $32 million Series A, led by Insight Partners.
- Valuation jumps 10x, from $30M in January to $300M now.
- Founders Karun Kaushik and Selin Kocalar dropped out of MIT at age 20.
- Startup helps companies automate compliance with AI-powered agents.
- Over 500 customers, including fast-growing AI unicorns Lovable, Bland, and Wispr Flow.
From Dorm Room to $300 Million
Founders Karun Kaushik and Selin Kocalar met during their freshman year at MIT. Both were passionate about AI and health tech.
During the COVID-19 pandemic, Kaushik built a large-scale diagnostic system. By 2023, the duo was working on a medical scribe AI. But handling sensitive health data quickly introduced them to HIPAA compliance hurdles.
Instead of building the scribe, they pivoted. They started developing tools to help other startups handle HIPAA faster and more affordably.
That pivot landed them in Y Combinator, and soon after, they raised a $3 million seed round from General Catalyst, FundersClub, and Soma Capital.
What Does Delve Do?
Delve’s platform uses AI agents to automate regulatory compliance tasks that companies often find slow and painful.
Instead of spending hundreds of hours on:
- Paperwork
- Manual audits
- Evidence collection
- Compliance tracking
Delve’s AI agents do it all in the background.
These agents plug into a company’s existing tools and handle tasks like:
- Collecting and organizing evidence
- Writing audit reports
- Updating compliance logs
- Monitoring system configurations
“Compliance frameworks are standardized. Businesses aren’t,” explains CEO Kaushik. That mismatch, he says, causes traditional software to fail.
Expanding Beyond HIPAA
Initially focused on HIPAA, Delve quickly expanded. Customers began asking for support with:
- SOC 2
- PCI
- GDPR
- ISO
The team adapted. Now, Delve offers a broad solution to automate compliance for multiple regulatory frameworks — what COO Kocalar calls the “alphabet soup” of regulations.
Rapid Growth and Investor Confidence
Since its seed round in January, Delve has grown from 100 to over 500 customers. Many of those are high-growth AI startups.
This momentum attracted multiple term sheets for the Series A, eventually leading to Insight Partners leading the round.
“Insight has been amazing to work with,” said Kocalar. “They’re the right long-term partner for us.”
A Bigger Vision for Back-Office Automation
While compliance is the starting point, Delve has bigger goals.
Kocalar shared that the company plans to automate a billion hours of back-office work. That includes future expansion into:
- Cybersecurity
- Risk management
- Internal governance
Insight Partners sees that potential too.
“Modernizing compliance modernizes the entire business,” said Insight’s Managing Director Praveen Akkiraju. “Delve is on the right path.”
Competitive Landscape: Validation or Threat?
Delve isn’t alone in the AI agent race. New startups and even tech giants like OpenAI are launching tools to automate business operations.
But Delve believes it has the edge.
“We have deep, domain-specific knowledge built into the platform,” said Kocalar. “General-purpose agents can’t match the depth we offer for compliance.”
Plus, compliance is always evolving. Regulations change. Interpretations vary. Delve’s model is built to adapt in real time.
Summary: Why Delve Stands Out
Delve is not just another AI startup. It’s building a category-defining platform to simplify one of the most painful parts of running a business — compliance.
Here’s why it matters:
- 10x valuation growth in six months
- Trusted by over 500 customers
- Built by a team of MIT, Stanford, and Berkeley AI researchers
- Backed by Insight Partners and top security leaders
- Aiming to automate billions of hours of operational work