Compliance automation solution Strike Graph has netted $8m in its Series A funding round, which was led by Venture Partners.
The round was also backed by all of Strike Graph’s previous backers, including Madrona Venture Group, Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures.
Funds from the round will be used to support FEDRAMP, NIST and other customer third party frameworks. Capital has also been earmarked for international growth, with plans to establish presence in Canada as well as other countries around the world.
Finally, the RegTech company is looking to hire more engineering, marketing and product roles within its team.
Strike Graph launched in 2020 and helps companies of all sizes pass their cybersecurity audits with a scalable security program that unlocks revenue quicker by monetising security practises, it claims.
Its services already supports compliance with SOC 2, ISO 2700x, CCPA, HIPAA and GDPR standards. It claims that 100% of its customers have successfully received a clean audit report.
Strike Graph also claims to be the first company to have created an AI capable of automating security questionnaires.
The RegTech company previously raised $3.9m in a funding round in October 2020. Since then, the company claims to have experienced four-times growth in customer adoption.
Strike Graph CEO and co-founder Justin Beals said, “We’re outfitting our solution with access to hundreds of integrations that can be customized to your unique business needs, making it easier and faster to achieve compliance while improving your overall security posture and amplifying growth. The thoughtful expertise and dedicated support from Information Venture Partners as long term investors will expose us to a new set of business opportunities.”
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