By Daniel Webster, dWeb.News Publisher
SEATTLE–(BUSINESS WIRE)–Strike Graph, a compliance automation startup, today announces that it has secured $8 million in Series A funding, led by Information Venture partners, investors in the next generation of leaders in B2B FinTech and Enterprise SaaS.
All previous investors in the company’s seed round: Madrona Venture Group and Amplify.LA. Revolution’s Rise of the Rest Seed Fund, Green D Ventures, and Green D Ventures all participated.
Launched in 2020, Strike Graph helps companies of all sizes successfully pass their cybersecurity audits with a scalable security program that unlocks revenue faster by monetizing their security practices. The company is growing internationally and will also expand upon its already supported frameworks of SOC 2, ISO 2700x, CCPA, HIPAA and GDPR standards. To date, 100% of Strike Graph’s customers have successfully received a clean audit report and it was the first company to build an AI offering that automates security questionnaires.
We’re equipping our solution with hundreds of integrations that can easily be customized to your business needs. This will make it easier and quicker to meet compliance, improve your security posture, and increase your growth. Justin Beals, co-founder and CEO of Strike Graph, said that the thoughtful expertise and dedicated support of Information Venture Partners will open us up to new business opportunities.
Strike Graph raised its seed round last January and has seen a 4x increase in customer adoption. It also quickly expanded its support framework and launched an innovative system to automate compliance scoping, evidence collection, and security questionnaires. Strike Graph has been named a “High Performer” by G2.com, Inc. . This is a recognition that Strike Graph can navigate and manage the many compliance standards for sensitive customer data, regardless of how large or small a company. This is evident in our portfolio of software companies selling to financial services and large corporations. Strike Graph’s commitment to the success of its customers is impressive. Its modern, flexible solution allows customers of all sizes to quickly set up compliance programs and obtain security certifications. Alex Tong, principal at Information Venture Partners, said that Strike Graph was a pleasure to invest in and will include them in the portfolio along with other category leaders such as BigID and Verafin.
This new capital will allow Strike Graph to expand its support for FEDRAMP, NIST and other third-party frameworks. With the support of Information Venture Partners, Strike Graph will establish a global presence in Canada. Startups are actively looking for roles in engineering, marketing, product, and customer support.
“As a rapidly growing company, achieving our SOC 2 through Strike Graph was crucial. We have saved hundreds of hours of manual labor and confusion, as well as expanding our sales opportunities and increasing our revenue potential. Thankful’s CTO Evan Tann said that Strike Graph was a partner in the entire process.
For more information about Strike Graph and to request a demonstration, visit http://www.strikegraph.com
About Strike Graph
Founded by Justin Beals & Brian Bero in 2020, Strike Graph provides a SaaS solution for compliance that simplifies security certifications such as SOC 2 Type I/II and ISO 27001 and HIPAA to move trust and moves deals and to build trust and move companies. The company is based in Seattle and has raised $11.9 million in funding from investors such as Madrona Venture Group and Information Venture Partners. Visit http://www.strikegraph.com for more information.
About Information Venture Partners
Information Venture Partners, a Toronto-based group of experienced venture capitalists, focuses on supporting the next generation in B2B FinTech & Enterprise SaaS. Arteria.ai is currently investing in BigID, Cinchy and Coconut Software as well as Flybits, Jirav and Knowtions. LendingFront, PostBeyond. Procurify, Procurify, Procurify, Q4, Sensibill and Strike Graph are just a few of the many venture capital investors. For more information, please visit http://www.informationvp.com.
More dWeb.News Business News at https://dweb.news/news-sections/business-news/