Strike Graph Gets $3.9 Million Seed Financing From Madrona Venture And Others

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Strike Graph

Seattle-based Strike Graph, the compliance automation startup has confirmed bagging $3.9 million in seed capital. Madrona Venture Group led the latest financing with participation from Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures.

Brian Bero and Justin Beals founded the firm in 2020 as a SAAS platform offering solutions simplifying security certifications like SOC 2 Type I/II, ISO 27001, and FedRamp. Through its Strike Graph platform, the platform helps its customers scope the correct size audit, dynamically adjust controls, and successfully complete a security certification with an internationally recognized auditor. It also automates the backups, encryption, and annual reports.

Justin Beals, the co-founder, and CEO of the firm commenting about the firm through a press release said that “Security certifications allow companies to prove they can be trusted to protect shared data that is a required part of doing business. The Strike Graph platform helps companies identify the appropriate controls, conduct their risk assessments, and then automate the maintenance of auditable cybersecurity certifications. Our pilot program was oversubscribed by 250% in our first six months. The support from Madrona Venture Group will help scale our business to meet burgeoning demand.”

The latest firm will help the firm in hiring engineers for cybersecurity positions. The latest amount will help the firm expand its offerings beyond SOC 2 support and automate repetition to help them maintain cybersecurity certifications for its users.

Madrona Venture Group's managing director Hope Cochran talking about Strike Graph says that “Every company, big or small, that sells a software solution must address a broad set of compliance requirements in regards to security and privacy. Obtaining certifications can be a burdensome, opaque, and expensive process. Strike Graph is applying intelligent technology to this problem – they help the company identify the appropriate risks, enable the audit to run smoothly, and then automate the compliance and testing going forward. These audits were a necessary pain when I was a CFO, and Strike Graph’s elegant solution brings together teams across the company to move the business forward faster.”

 

Image courtesy: SalesTech Star

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