Data security has been a core value to us from day one, especially in our industry where venture capital firms and portfolio companies collect and share extremely sensitive and confidential data on a daily basis. That’s why we are extremely happy to announce that Standard Metrics is now SOC 2 Type II compliant!
What is SOC 2 Type II?
Governed by the American Institute of Certified Public Accountants (AICPA), “System and Organization Controls” (SOC) is a framework to ensure a business is exercising best practices for maintaining data security. To obtain SOC 2 certification, a business must be audited by a third party (Coalfire Controls in our case) and prove that it has robust controls and processes that comply with SOC 2’s five “trust service principles”: security, availability, processing integrity, confidentiality, and privacy.
While Type I reports focus on a point in time, SOC 2 Type II reports evaluate a period of time to ensure that the systems are actually operationally effective and not just theoretically sound. We recently got our first Type II report to cover the audit period from Jan 16th to Apr 15th, 2022. Moving forward, we aim to renew our Type II report every year.
What does this mean for our clients?
We have always put confidentiality and security at the center of everything we do. From your perspective, nothing will change on the platform. Only now, you can comfortably know that our security is aligned with industry standards and best practices, as verified by an independent firm. As your firm expands, Standard Metrics will continue to be a trusted enterprise partner to support your portfolio monitoring operations.
Delivering investment insights just got easier
CFOs and COOs use Standard Metrics to collect the highest quality and volume of portfolio data in the shortest amount of time. Back office teams analyze standardized, auditable metrics to deliver insights that up the alpha with existing investments.
We love creating back office heroes.