The Reluctant Founder: A Tech Startup Story with Complyance
Episode 8 of Season 2 of the Tech Startup Stories Podcast features Richa Kaul, CEO and Founder of Complyance. In this episode, Richa shares with host Natalie Binns why she never saw herself as a founder until she did, how she raised funding like an American founder in the UK market, and why she waited nearly three years before investing in marketing.
Listen to the Podcast
Available on Spotify, Amazon Music, Apple Podcasts, and YouTube.
A month before starting Complyance, Richa would have told you she'd never be a founder. She had built a strong career in strategy, from McKinsey to government work to becoming Chief Strategy Officer at ContractPod. But the path to starting a company was never part of the plan. Then she spotted something that changed everything: a gap in the market for modern technology that could help enterprises manage information security without the typical headaches of outdated compliance tools.
The accidental founder with a mission
Richa describes herself as a data privacy advocate in her personal life, the kind of person who actually takes the time to reject every cookie banner. That personal obsession with protecting consumer data collided with a professional insight about how broken enterprise security compliance had become. The result was Complyance, spelled with a Y as a deliberate nod to the idea that compliance should be a byproduct of sound security practices, not a checkbox exercise.
What makes her story particularly interesting is how unplanned it all was. She moved to the UK in 2019 when her husband's job brought them over, worked at a tech startup, and fell in love with the quality of life. When the idea for Complyance took shape, it happened organically, without grand ambitions or years of planning. Sometimes the best businesses start that way.
Building by listening, not assuming
Before writing a single line of code, Richa spent months speaking to people who manage information security compliance. She still keeps those early notes. She offered low-cost consulting services to help mid-market companies achieve SOC2 certification, not to make money but to embed herself in their processes and truly understand the pain points.
That approach of validating the problem first shaped everything that followed. With CTO Hugo Noguera, they built what Richa calls "an axle version" of the product, something far from perfect but functional enough to get feedback. Then they kept iterating based on what clients told them they actually needed. That methodology, listen, build, release, repeat, is still how they operate today.
Raising money with swagger
Richa's fundraising story is unusual, particularly for a female founder in the UK. She had what's called a preemptive round, investors reached out to her when they heard she was starting a company. That kind of momentum is rare, and she acknowledges the role luck played. But there's more to it than that.
She describes raising money "like an American founder," with expectations around valuations and round sizes that feel different from typical UK fundraising norms. Her advice to other female founders is direct: expect more from the people across the table. They expect so much from you, so you should expect the same in return. She also made a deliberate choice to prioritise the people over the fund names, even when faced with competing term sheets. That decision shaped not just her cap table but also the quality of the partnerships she built with her investors.
Standing out in a crowded space
The GRC tech space is busy, and getting noisier. Complyance's strategy for standing out comes down to three things: innovation, support, and a product that actually delivers.
On innovation, they were early adopters of AI in enterprise security compliance, releasing AI agents before most of the market caught on. But they did it while respecting privacy best practices, so clients could actually use the AI without worrying about data exposure.
On support, they've rethought the typical enterprise B2B relationship. Instead of charging separately for customer success or leaving clients to figure things out alone, Complyance offers a white-glove implementation process. For six to ten weeks, clients get near-dedicated support from the customer engagement team to get set up properly. The result is better adoption, which leads to better outcomes.
And on product delivery, it's about building something that works reliably, with a user interface that people actually want to use. In enterprise software, that alone can be a competitive advantage.
Walking before talking
For nearly three years, Complyance didn't invest in marketing. That was intentional. Richa wanted to walk the walk before talking the talk, to build a product and customer base that truly delivered before making noise about it. She was worried that talking too early would lead to overpromising and customer dissatisfaction.
Looking back, she admits she probably waited a bit longer than necessary. The company is now ramping up its go-to-market efforts, but the cautious approach reflects something deeper about how she thinks about building: reputation and customer impact matter more than hype.
Advice for the next wave
Richa's advice splits into two camps. If you have a good idea you're genuinely excited about, lean in. If you really want to be a founder but don't have that perfect idea yet, keep searching before you jump. She believes the idea itself is what gives you the stamina to push through the inevitable hard moments.
For female founders specifically, she repeats the same message she shares in every coaching conversation: have a little swagger. Expect more from investors. Remember that you're the founder, and that should count for something when you walk into the room.
Listen to the Podcast
Available on Spotify, Amazon Music, Apple Podcasts, and YouTube.
Connect with Richa Kaul and learn more about Complyance.