SecurEnds, a US-based cloud-native Identity Governance company, announced that it has closed a $21 million Series A round led exclusively by Elephant. The investment – one of the largest A-rounds in Atlanta’s burgeoning cybersecurity and tech startup ecosystem to date – comes following an impressive 340% increase in year-over-year annual recurring revenue, the company said in its statement.
As part of the transaction, Jeremiah Daly and Christopher De Souza, Partners at Elephant, will join the Board of Directors.
Previously bootstrapped by its founders, SecurEnds now boasts nearly 100 customers and maintains prominent technology and reseller partnerships around the world, it added.
SecurEnds enables the world’s most forward-thinking companies to fully automate user access reviews, entitlement audits, access requests, and segregation of duty. The platform helps organizations save valuable time on implementation and upkeep while reducing audit costs by as much as 60%. To meet rapidly accelerating demand, the funding will be primarily used to scale operations and product development, and for geographic expansion into untapped markets across Europe and Asia.
“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,” said Tippu Gagguturu, co-founder and CEO of SecurEnds. “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.”
Over the next 12-months, SecurEnds intends to nearly triple its workforce, filling more than 125 sales, marketing, and product engineering roles both in the US and worldwide, the company added.
“SecurEnds’ rapid growth over the past two years has been particularly impressive when considering the many challenges brought on by the COVID-19 pandemic and the highly competitive cybersecurity landscape,” said Daly. “Both Chris and I believe Identity Governance is becoming more critical to businesses around the world and needs disruption. SecurEnds provides that disruption by delivering an innovative and elegant cloud-native solution that customers love. We are excited for a long and fruitful partnership that helps SecurEnds execute on their vision for the future of Identity Governance.”
“Customers gravitate to SecurEnds because we have simplified Identity and Cloud Governance by creating a business user centered product,” said Deven Reddy, co-founder and COO. “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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