Today: May 20, 2024

Strike Graph nets $8.5M in funding round led by BAMCAP.

5 months ago

Security compliance start-up, Strike Graph, has raised $8.5 million in a funding round led by BAMCAP Capital Partners, marking the company’s latest step towards developing its AI technology and expanding its market reach. The firm’s innovative platform aims to streamline the process of security program design, operation, and measurement by reducing reliance on complicated processes, costly audit firms, or automation.

  • The Seattle-based company, founded in 2022, claims its platform has helped customers achieve compliance 80% faster from start to certification.
  • Strike Graph’s platform supports numerous certifications across various sectors such as healthcare, information security management systems, payments, federal risk and authorisation management, privacy, trust information security assessment, and broader General Data Protection Regulation requirements.
  • Notable clients include Outband AI Inc., Suitable Technologies Inc., Sumatra Bioseciences LLC, Lydia AI Inc., BlueFletch Inc., and Spiral Ventures Inc.
  • Post-round, BAMCAP partner Jim Sheward will join Strike Graph’s board.

Using Strike Graph, clients are able to develop a comprehensive security program that mitigates risk, prioritises trust, and meets regulatory requirements. The platform provides distinct dashboard functionalities, which enables users to track their security progress across multiple teams and produce ‘trust assets’. Strike Graph maintains that its platform eliminates information silos and missed deadlines by consolidating all the security processes into one flexible, centralised platform. With this new funding, Strike Graph has raised a total of approximately $21.4 million to date, according to data from Tracxn.

According to co-founder and CEO, Justin Beals, the start-up’s primary value comes from offering an innovative product to customers. He affirmed that they will be channelling the investment towards developing the best features in the risk and ‘TrustOps’ marketplace, while also leveraging BAMCAP’s leadership experience to expand their global customer reach.