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HomeCustomersVimcal Closed First Enterprise Deal in 4 Weeks With Compliance as a Competitive Advantage

Vimcal Closed First Enterprise Deal in 4 Weeks With Compliance as a Competitive Advantage

Asset Vimcal v2
About

Vimcal, a Y Combinator company, is the world's fastest calendar, designed for busy professionals and teams.

Websitehttps://www.vimcal.com/
LocationNew York, NY
IndustrySaaS
Socials
A case on how compliance automation is a business accelerator for startups and young companies.

The Challenge

Vimcal is a startup that went through Y Combinator. They found themselves at a critical growth moment when they launched their second product, Maestro, the first calendar designed specifically for executive assistants.

This product targeted larger companies (Fortune 500) and Vimcal soon found themselves facing strict compliance standards like SOC 2 and GDPR with these prospective customers. Vimcal also found themselves in a demanding fundraising environment, compounded by the difficulties of raising capital during a bear market. In order to increase the chances of securing capital, they needed to land their first enterprise customer. Proof of traction became essential for Vimcal’s growth, and so did showcasing their focus on security and compliance.

The Solution

To address these challenges, Vimcal did a thorough vetting and opted for Drata to support their security and compliance journey. This was the first time the Vimcal founders were diving into security and compliance and to do it well, the responsiveness of Drata's customer support played a pivotal role in them selecting Drata, providing immediate assistance and valuable insights. The platform not only offered clear documentation but also tailored advice based on the company's specific needs, guiding them through the complexities of compliance.

With Drata, the company efficiently obtained SOC 2 compliance, securing the necessary documentation and paving the way for significant developments. The platform's continuous monitoring capabilities, along with comprehensive policies, proved instrumental in streamlining the compliance process.

"The newfound compliance status also served as a competitive advantage, enabling the company to attract prominent clients like Zapier within a remarkably short timeframe."

The Results

Within three weeks, Vimcal successfully navigated the compliance landscape with Drata, to finish up their SOC 2 Type 2 actions and begin their 3 month audit period.

The swift execution of SOC 2 Type 2 alongside Drata culminated in tangible results, providing the company with a robust security posture.

"Within 4 weeks of signing up for Drata, we closed our first enterprise contract from a unicorn and thanks to that, got a term sheet from our dream investor.”

The ability to secure enterprise clients, including a notable unicorn, marked a significant inflection point for the company. Beyond only compliance, SOC 2 brought a sense of peace of mind and legitimacy, signifying the transition from a startup team to a legitimate company. The results not only met the immediate need for fundraising but also positioned the company strategically for future growth, opening doors to new enterprise channels and bolstering confidence in their security posture among potential investors.

"The results not only met the immediate need for fundraising but also positioned the company for future growth, opening doors to new enterprise channels."

What’s Next For Vimcal 

Vimcal is in the final stages of the audit to progress from their SOC 2 Type 1 to achieve SOC 2 Type 2, paving the way for initiating comprehensive penetration testing across their systems. As they anticipate this next step, Vimcal is looking forward to the doors that will open with proof of their compliance program, as they continue to establish their startup as a more trustworthy entity in the eyes of potential partners and clients. 

With ISO 27001 certification and GDPR compliance both on the horizon for Vimcal, they have just a few remaining tasks to accomplish thanks to Drata’s ability to showcase which components of a framework they’ve already accomplished with SOC 2.

"Continuous monitoring lets us maintain our security posture effortlessly as our team grows.”

This marks an exciting phase in Vimcal’s journey, and they are eager to see the positive impact these efforts will have on their overall security and business operations.

Our SOC 2 Type 2 achievement holds immense importance as it not only enhances our security measures but also lends an air of legitimacy, crucial for navigating the landscape of large enterprises.

John Li

CEO

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