SecurEnds, a cloud-native Identity Governance firm, announced that it has raised around $21 million in a Series A round led solely by Elephant. The investment follows a 340 percent rise in annual recurring revenue y-o-y, making it one of the largest A-rounds in Atlanta’s expanding cybersecurity and digital startup sector to date. SecurEnds, which was formerly self-funded by its founders, today has approximately 100 customers and maintains important technological and reseller connections all around the world.
SecurEnds automates user access reviews, entitlement audits, access requests, and segregation of duties for the world’s most forward-thinking enterprises. The platform helps firms save time and money on adoption and maintenance while lowering audit expenses by up to 60%. The funds will be used to increase operations and product development, as well as geographic expansion into untapped regions across Europe and Asia, in order to fulfil the fast increasing demand.
“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,” said Tippu Gagguturu, co-founder and CEO of SecurEnds.
SecurEnds plans to roughly increase its employment in the next 12 months, filling more than 125 sales, marketing, and product engineering positions in the US and around the world. Elephant Partners Jeremiah Daly and Christopher De Souza will join the Board of Directors as part of the deal.
“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,” said Daly.
SecurEnds has created a versatile product based on AI and machine learning-enabled predictive analytics that outperforms incumbent legacy on-prem solutions in terms of ROI, time to value, and total cost of ownership. The cloud-native set of technologies integrates seamlessly with current customer applications such as Active Directory, ServiceNow, Ping, Workday, and Okta, among others, allowing businesses to meet their risk and compliance criteria.
“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,” said Deven Reddy, co-founder and COO.