Compliance Automation Startup Strike Graph Raises $8 Million Series A Funding
Round Led by Information Venture Partners to Assist with Global Expansion
Strike Graph, a compliance automation startup, 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.
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All of the previous investors from the company’s seed round, Madrona Venture Group, Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures also 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 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,” said Justin Beals, CEO and co-founder of Strike Graph.
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Since raising its seed round last year, Strike Graph has achieved 4x growth in customer adoption on its platform, quickly expanded its framework support and launched an innovative system that automates compliance scoping, evidence collection and security questionnaires. Recently, Strike Graph was awarded as a High Performer by peer review site G2.com, Inc.
“The ability to navigate and manage the myriad of compliance standards is now table stakes if you have sensitive customer or personal data, no matter how big or small a company. This is evident across our portfolio of software companies that sell to financial services and other large organizations. We’re impressed by how deeply Strike Graph invests in the success of its many customers, as its modern and flexible solution helps customers of all sizes quickly establish compliance programs and achieve security certifications. We’re pleased to invest in Strike Graph, and include them in our portfolio alongside other relevant category leaders like BigID and Verafin,” said Alex Tong, Principal at Information Venture Partners.
With this new capital, Strike Graph will expand its offerings to support FEDRAMP, NIST, and other customer third party frameworks. It will also establish a global presence in new areas like Canada, with Information Venture Partners’ assistance in that region. The startup is actively hiring for engineering, marketing and product roles, in addition to solution reach, customer support and security/compliance expert positions.
“As a growing company, achieving our SOC 2 with Strike Graph has been instrumental. We’ve saved hundreds of hours of confusion and redundant manual labor, while expanding opportunities to sell upmarket and increasing our revenue potential. Strike Graph has partnered with us in every step of the process,” said Evan Tann, CTO of Thankful.
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