Molecule Completes SOC 1 Type 2 and SOC 2 Type 2 Certification of its ETRM/CTRM Software Platform
An independent audit certifies that Molecule, a growing player in the ETRM/CTRM space, has met industry-leading requirements around process integrity and data security.
HOUSTON, TX - 02 February 2022 – Molecule, the modern and easy-to-use ETRM/CTRM software company, announced that it has achieved SOC 1 and SOC 2 certifications, both against the more difficult Type 2 standard. An AICPA firm completed the audit, and Molecule used tooling from industry leader Tugboat Logic to complete the audit more thoroughly.
SOC 1 and SOC 2 designations are AICPA certifications that focus on company-wide best-practice policies for SaaS companies. The process is rigorous and involves detailed questionnaires, data requests, and other inquiries from an external audit firm. The auditor reviews internal policies in areas including customer data handling, cloud security, and employee satisfaction.
"Since Day 1, we've built our platform, and our company, with integrity at its core," says Sameer Soleja, Founder and CEO of Molecule. "But integrity can feel ethereal and difficult to prove. These certifications validate that our internal policies meet or exceed industry best practices."
Dennis Carlson, VP Operations & Security says, "we wanted an independent third party to audit and certify our tech stack and processes to give our customers increased peace of mind about their data, our product, and the type of company we are."
Molecule is known in the ETRM/CTRM industry for its creative ways of protecting customer identity, including peer reviews for e-mail attachments and giving customers code names with mission patches similar to those found in NASA's space program.About Molecule
Founded in 2012, Molecule is the leader in cloud-native ETRM/CTRM. We make reliable, easy-to-use SaaS software for commodity traders, risk managers, and operations teams at hedge funds, marketers, hedge advisors, IPPs, and world-scale energy and PE firms – in power, gas, crude, refined products, chemicals, agricultural products, fuel, and cryptocurrencies. Molecule automates routine tasks and complex position, P&L, and risk calculations. Learn more about Molecule at molecule.io.
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