US cloud-native identity governance firm SecurEnds has closed a $21m Series A funding round led exclusively by venture capital company Elephant.
Established in 2017, Georgia-based SecurEnds is an identity security software company that offers modern identity governance and administration capabilities for on-premise, cloud and SaaS applications.
The company’s platform allows organizations to standardize access requests, determine segregation of duty conflicts and verify right controls are in place to meet SOX, HIPAA, PCI, ISO27001 and NIST requirements.
According to SecurEnds, the investment is one of the largest Series A round in Atlanta’s growing cybersecurity and tech startup ecosystem to date. The round comes following a 340% increase in the company’s year-over-year annual recurring revenue.
The firm claims it now has almost 100 customers and maintains strong technology and reseller partnerships around the world.
Previously bootstrapped by its founders, SecurEnds now boasts nearly 100 customers and maintains prominent technology and reseller partnerships around the world.
The funding will be used to help the company scale its operations and product development and reach into new markets in Europe and Asia.
SecurEnds has said it also intends to almost triple its workforce over the next 12 months, with a particular focus in the sales, marketing and product engineering teams in the US and globally.
As part of the deal, Elephant partners Jeremiah Daly and Christopher De Souza will join the SecurEnds board.
SecurEnds CEO and co-founder Tippu Gagguturu said, ‘We’ve built the industry’s first fully-cloud-native and configurable Identity Governance platform, empowering organizations to secure identities, protect against data breaches, and meet security and compliance needs.
“The platform’s ease-of-use allows organizations to rapidly build identity-driven cyber risk and compliance programs. We’re thankful to Elephant for embracing our vision of democratizing Identity and Cloud Governance and look forward to working together as we continue to scale.”
SecurEnds COO and co-founder Deven Reddy added, “Customers gravitate to SecurEnds because we have simplified Identity and Cloud Governance by creating a business user centred product. We’ve carefully constructed our platform to have intuitive workflows that allow end-users without IGA expertise to meet compliance and security goals.”
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