Today: Jul 20, 2024

Strike Graph, compliance software startup, rakes in fresh funds.

7 months ago

Seattle-based startup, Strike Graph, has raised an additional $1.5 million, bringing its total funding to date to $20.4 million.

  • Strike Graph was established in 2020 and provides software solutions that expedite compliance processes for security-related programs such as HIPAA and SOC 2.
  • The company’s revenue has increased fourfold in the past two years.
  • This latest funding round included participation from Madrona Venture Group, Information Venture Partners, and Rise of the Rest.

Strike Graph’s software is designed to optimize a company’s security-related compliance and certification procedures. Since its inception in 2020, the startup has managed to achieve significant milestones, including a significant boost in its revenue — a fourfold growth over the past two years.

Co-founded by Justin Beals and Brian Bero, Strike Graph began as a spinout from Madrona Venture Labs. Beals, who is also the CEO of the firm, has had a robust career in various startups, including NextStep, Koru, Roundbox Global, among others. Bero, a co-founder of Seattle-based tech heavyweight Apptio and former security startup Greytwist – which was sold to SmartRIA – left Strike Graph last month.

The latest investment sees the company’s total funding stand at $20.4 million. This includes the $7 million raised in a Series A round led by Bamcap in May. The recent funding round saw contributions from players such as Madrona Venture Group, Information Venture Partners, and Rise of the Rest. As part of the deal, BAMCAP partner Jim Sheward will join Strike Graph’s board.

With a team of 45 people, Strike Graph is continuing to develop its software to enable smooth and efficient compliance processes for businesses in line with major security programs.