Seattle compliance automation starts Strike figure The company announced on Tuesday that it has raised $8 million in Series A financing.
Strike Graph was launched in 2020 and spun off from Madrona Venture Labs. Its software can help companies simplify and reduce the cost of the SOC 2 certification process used by the company to ensure that its services meet security and privacy standards.
Strike Graph’s platform intelligently gathers insights into the customer’s business to determine security activities that are critical to compliance.
“Because we don’t treat every customer equally and our solutions are customizable, we have developed AI tools that can uniquely identify security practices and standards for our customers,” Co-founder and CEO Justin Beers Said. “By first organizing the effective practices of customers, we allow customers to apply cyber security controls and evidence in various standards, security questionnaires, and trust activities.”
Strike Graph continues to develop internationally, and plans to expand the supported SOC 2, ISO 2700x, CCPA, HIPAA, and GDPR standard frameworks. Since October 2020, the customer adoption rate of Strike Graph on its platform has increased by 4 times, and so far, 100% of its customers have successfully received clean audit reports.
The company is led by Beals, a veteran of NextStep, Koru, Roundbox Global and other startups, and Brian Bello, He previously co-founded Seattle technology giant Apptio and sold security startup Greytwist to SmartRIA.
Strike Graph raised $3.9 million in seed funding in October 2020 and has raised $11.9 million to date. The latest round was led by Information Venture Partners, with previous investors including Madrona Venture Group, Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures.
The startup currently has 25 employees and is hiring for remote positions in engineering, marketing, and product roles.