- SecurEnds, an Atlanta-based cloud-native Identity Governance company, announced that it has raised a $21 million Series A round. These are the details.
SecurEnds — an Atlanta-based cloud-native Identity Governance company — announced that it has raised a $21 million Series A led exclusively by Elephant. The investment – which is one of the largest A-rounds in Atlanta’s cybersecurity and tech startup ecosystem to date – comes following an impressive 340% increase in year-over-year annual recurring revenue.
Previously bootstrapped by the company founders, SecurEnds now boasts nearly 100 customers and maintains prominent technology and reseller partnerships around the world. SecurEnds essentially enables the world’s most forward-thinking companies to fully automate user access reviews, entitlement audits, access requests, and segregation of duty. And the platform helps organizations save valuable time on implementation and upkeep while reducing audit costs by as much as 60%. In order 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.
Over the next year, SecurEnds intends to nearly triple its workforce, filling more than 125 sales, marketing, and product engineering roles both in the US and worldwide. And as part of the deal, Jeremiah Daly and Christopher De Souza, Partners at Elephant, will join the Board of Directors.
Organizations are accelerating digital roadmaps with their assets now spread between on-prem and cloud deployments. And as part of their security and compliance needs, there is increasing demand for a SaaS-based product that can be easily stood up and allows them to achieve access certifications like SOX, HIPAA, PCI-DSS, GDPR, and ISO 27001 even while undergoing a transformation.
Utilizing AI and ML-enabled predictive analytics, SecurEnds has built a versatile product without the constraints of incumbent legacy on-prem solutions, providing high ROI, strong time to value, and lower total cost of ownership than legacy solutions in the market. And the cloud-native suite of products bolt-on directly to existing customer applications, such as Active Directory, ServiceNow, Ping, Workday and Okta, empowering organizations to achieve their desired risk and compliance standards.
KEY QUOTES:
“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.”
— Tippu Gagguturu, co-founder and CEO of SecurEnds
“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. 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.”
— Jeremiah Daly
“Customers gravitate to SecurEnds because we have simplified Identity and Cloud Governance by creating a business user centered product. We’ve carefully constructed our platform to have intuitive workflows that allow end-users without IGA expertise to meet compliance and security goals.”
— Deven Reddy, co-founder and COO
