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SecurityPal Emerges from Stealth with $21M to End the Dreaded Security Review
Already the go-to partner for hundreds of enterprises, SecurityPal helps put the focus back on revenue.
SAN FRANCISCO, September 20, 2022-- SecurityPal, the leading consolidated solution for companies to solve their security review challenges, today emerged from stealth mode and announced a $21 million Series A led by Craft Ventures with participation from Martin Casado at Andreessen Horowitz and angel investors including Frederic Kerrest, Executive Vice Chairman, Co-Founder, and COO at Okta, Anne Raimondi, COO of Asana, Iman Abuzeid CEO of Incredible Health, and Dev Nag, serial entrepreneur and investor. While in stealth/through word of mouth, SecurityPal quickly became the default choice for hundreds of companies including Figma, NASDAQ-listed Monday.com, and Loom to navigate the security review process while assuaging the concerns of the modern security-sensitive buyer. The new funding will be used to transform the chaotic and unpredictable security review process from a mountain of paperwork to the only consolidated platform with a "white-glove service."
"SecurityPal makes good deals happen faster for both sellers and buyers. There's no downside. It's why SecurityPal's customers are all such raving fans," shared investor and board member Brian Murray, Partner and COO at Craft Ventures.
SecurityPal has built a powerful reputation, with more than 200 customers, spanning high-growth tech companies to publicly traded enterprises globally.
"I spent years trying to solve this as a previous founder and revenue leader. Each review meant starting from scratch with thousands of onerous questions that stole time from winning deals, protecting the company, and delivering value to our waiting customers. When I went looking for a solution all I got was buggy AI software that was a bit too much 'A' and not enough 'I'," Pukar C. Hamal, the Founder & CEO shared.
Getting to an impressive 7-figure ARR while bootstrapped and operating in stealth until today, SecurityPal has built a powerful reputation, with more than 200 customers, spanning high-growth tech companies to publicly traded enterprises globally. Even in stealth, 54% of all leads and revenue poured in via inbound or referrals. Boasting a completion rate close to 100% across the entire customer base and 24-hour turnarounds, SecurityPal has quickly become the go-to partner for top companies such as Algolia, Sendoso, NetSPI, and Payscale.
Eduardo Ynaty, Head of Solutions Engineering at Monday.com, shared, "The increasing Security Questionnaire volume became a massive challenge when we started scaling and went public. I'd rather see our solutions engineers using creative minds to solve important customer use cases. Collaborating with SecurityPal has allowed us to focus on core processes rather than allocating resources for a very specific problem. SecurityPal means we can expedite and work around scalability without reactively hiring for this process. SecurityPal is an extension of our team."
With the new funds, SecurityPal will accelerate product development, and continue to invest in making the only consolidated solution that takes security reviews truly off the plates of high-value revenue, security, and GRC leaders.
To learn more, visit www.securitypalhq.com. If you are interested in joining the yeti, please reach out to firstname.lastname@example.org.