Atlanta-based SecurEnds secures $21 million Series A to democratize cloud and identity governance
Organizations are accelerating their digital roadmap with their assets now spread between on-premise and cloud environments. 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 such as SOX, HIPAA, PCI-DSS, GDPR, and ISO 27001 even while undergoing a transformation.
Enter SecurEnds, an Atlanta-based tech startup that helps companies reduce security risk and costs by automating identity governance and access control. Using artificial intelligence (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.
SecurEnds’ cloud-native suite of products bolt-on directly to existing customer applications, such as Active Directory, ServiceNow, Ping, Workday, and Okta, among others, empowering organizations to achieve their desired risk and compliance standards.
Today, SecurEnds announced it has raised $21 million Series A funding led exclusively by Elephant. The investment, which is one of the largest A-rounds in Atlanta’s burgeoning cybersecurity and tech startup ecosystem to date, comes following a 340% increase in year-over-year annual recurring revenue for the 4-year old startup. Previously bootstrapped by its founders, SecurEnds now boasts nearly 100 customers and maintains prominent technology and reseller partnerships around the world.
Founded in 2017 by Tippu Gagguturu, SecurEnds enables organizations and 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. As part of the transaction, Jeremiah Daly and Christopher De Souza, Partners at Elephant, will join the Board of Directors.
“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.”