We’re thrilled to announce that Hyperproof has closed $16.5 million in Series A financing led by Toba Capital with support from existing investors. Along with this, Toba General Partner, Rajan Aggarwal, will join Hyperproof’s board of directors.
“GRC practitioners are forced to rely on spreadsheets to manage compliance programs or quick fix “SOC-in-a-box” automated solutions to pass the next audit. This approach fails to proactively manage risk and compliance in an automated fashion and simply does not scale with the company’s growth,” said Aggarwal.
“Backed by a world class team, Hyperproof is disrupting this space with its integrated risk, compliance and privacy command center essential to successfully managing compliance programs of arbitrary complexity in organizations of all sizes.”
Rajan Aggarwal, General Partner at Toba Capital
A lot is asked of organizations when it comes to security and data privacy—regulations are continuously changing and on top of this, vendor security and management have become an increasing topic of concern. With everything compliance professionals have to manage, there is a need for modern tools that can support their workflow by simplifying project management, automating tedious processes (like evidence collection), and helping them to get ahead of internal and external audit preparation.
We built Hyperproof to meet these needs and will continue to improve our software based on the feedback we get from our customers. Hyperproof recognizes that an organization’s chosen compliance operations platform needs to integrate seamlessly with compliance and security workflows, but also with company ecosystems as a whole.
“Security and compliance teams are unsung heroes within their organizations. They struggle under ever-increasing workloads and are expected to collect and inspect exponentially more data than even a year or two ago,” said Craig Unger, Founder, and CEO at Hyperproof. “With this round of funding, we are going to further accelerate our product innovation to bring simple, elegant, and complete solutions to our customers and partners in order to take back the high ground in their fight to protect their business, customers, employees, and communities.”
Hyperproof is excited to have this funding support to continue solving the challenges faced by security, compliance, and risk teams. With this in mind, we have a number of fresh product initiatives in the works that will roll out in the upcoming months, into 2022, and beyond.
We will be adding new automation for testing and monitoring controls, expanding our integration offerings, building out new team collaboration features, and up-leveling our reporting capabilities. All of this with the goal of saving our customers valuable time and resources while ensuring that issues are detected when they happen and are resolved accordingly.
We’re also working on an Environmental Social Governance (ESG) software solution to better support organizations in managing their businesses more sustainably while meeting their increased burden of reporting.
Our Series A funding is a big win not only for Hyperproof but also for our users and customers. We want to deeply thank the Hyperproof community—we couldn’t have done this without you! Moving forward, we will continue to act as a trusted partner to our users and prioritize providing first-class customer support.
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