While certifications for security management practices like SOC 2 and ISO 27001 have been around for a while, the number of companies that now request that their software vendors go through (and pass) the audits to be in compliance with these continues to increase. For a lot of companies, that’s a harrowing process, so it’s maybe no surprise that we are also seeing an increase in startups that aim to make this process easier. Earlier this month, Strike Graph, which helps automate security audits, announced its $ 3.9 million round, and today, Secureframe, which also helps businesses get and maintain their SOC 2 and ISO 27001 certifications, is announcing a $ 4.5 million round.
Secureframe’s round was co-led by Base10 Partners and Google’s AI-focused Gradient Ventures fund. BoxGroup, Village Global, Soma Capital, Liquid2, Chapter One, Worklife Ventures and Backend Capital participated. Current customers include Stream, Hasura and Benepass.
Shrav Mehta, the company’s co-founder and CEO, spent time at a number of different companies, but he tells me the idea for Secureframe was mostly born during his time at direct-mail service Lob.
“When I was at Lob, we dealt with a lot of issues around security and compliance because we were sometimes dealing with very sensitive data, and we’d hop on calls with customers, had to complete thousand-line security questionnaires, do exhaustive security reviews, and this was a lot for a startup of our size at the time. But it’s just what our customers needed. So I started to see that pain,” Mehta said.
After stints at Pilot and Scale AI after he left Lob in 2017 — and informally helping other companies manage the certification process — he co-founded Secureframe together with the company’s CTO, Natasja Nielsen.
“Because Secureframe is basically adding a lot of automation with our software — and making the process so much simpler and easier — we’re able to bring the cost down to a point where this is something that a lot more companies can afford,” Mehta explained. “This is something that everyone can get in place from day one, and not really have to worry that, ‘hey, this is going to take all of our time, it’s going to take a year, it’s going to cost a lot of money.’ […] We’re trying to solve that problem to make it super easy for every organization to be secure from day one.”
The main idea here is to make the arcane certification process more transparent and streamline the process by automating many of the more labor-intensive tasks of getting ready for an audit (and it’s virtually always the pre-audit process that takes up most of the time). Secureframe does so by integrating with the most-often used cloud and SaaS tools (it currently connects to about 25 services) and pulling in data from them to check up on your security posture.
“It feels a lot like a QuickBooks or TurboTax-like experience, where we’ll essentially ask you to enter basic details about your business. We try to autofill as much of it as possible from third-party sources — then we ask you to connect up all the integrations your business uses,” Mehta explained.
The company plans to use much of the new funding to staff up and build out these integrations. Over time, it will also add support for other certifications like PCI, HITRUST and HIPAA.
The European Learning Management System or LMS’s market growth is mostly attributed to the growing adoption of e-learning in training the employees. LMS software applications are designed to develop, manage, and track the report of educational courses and training programs.
According to a report, the market for Europe LMS is expected to reach $ 714.26M (approx €602.9M) by 2025, growing at a CAGR of 17.07% from 2020 to 2025. LMS is segmented into collaborative learning, content management, talent management, performance management, assessment, testing, and others.
The report also suggests that the global pandemic has impacted the adoption of digital learning technologies for the employees. The significant number of cases in the European region has resulted in the countries lockdown which created a dire need in the employment of the LMS in training newly recruited employees thereby impacting the growth of the market.
Cloud-based LMS Raises €47.2M
Additionally, Antony Clavel, a Principal with Summit Partners, will be joining the LearnUpon Board of Directors.
The raised capital will be used by the company to boost its hiring, meet customer demand, and support the continued roll-out of its products.
Let’s learn about LearnUpon
The company was founded in 2012 by Brendan Noud and Des V. Anderson. LearnUpon was founded on the belief that a learning management system should be intuitive for users, quick and seamless to set up, and delivered with industry-leading customer support. The company’s LMS helps to train employees, partners, and customers.
LearnUpon is designed to enable more efficient delivery, tracking, measurement, and certification across numerous learning use-cases, including employee development, customer onboarding, partner education, and compliance training, all of which have traditionally been managed across different systems.
“We believe every learning opportunity should be an experience that advances employee, partner and customer success, and LearnUpon is purpose-built to help organisations of all sizes achieve this goal,” says Brendan Noud, CEO, and co-founder of LearnUpon.
Development and expansion
The business currently employs 180 people across four offices – Dublin (HQ), Philadelphia, Sydney, and Belgrade – including more than 70 engineering and product development professionals.
Besides, it expects to add more than 100 engineers over the next 18 months to support continued product expansion.
Noud mentions in a blogpost that LearnUpon has grown its annual recurring revenues by more than 50% year-on-year for each of the last 12 quarters. It has more than 1,000 customers worldwide, including Booking.com, Twilio, USA Football, and Zendesk.
According to him, the company also has 5-star ratings across Capterra, G2Crowd, GetApp, and TrustRadius.
Image credit: LearnUpon
Usually, databases about companies have to be painstakingly updated by humans. Soleadify is a startup that uses machine learning to create profiles for businesses in any industry. The first of the company’s products is a business search engine that keeps over 40 million business profiles updated, currently used by hundreds of companies in the USA, Europe and Asia for sales and marketing activities.
It’s now secured $ 1.5 million in seed-round funding from European venture firms GapMinder Venture Partners and DayOne Capital, as well as several prominent business angels, through Seedblink, an equity crowdfunding platform based out of Bucharest, Romania.
The company plans to use the funds to further improve their technology, build partnerships and expand their marketing capabilities.
On top of Soleadify’s data, they build solutions for prospecting, market research, customer segmentation and industry monitoring.
The way it’s done is by frequently scanning billions of webpages, identifying and classifying relevant data points and creating connections between them. The result is a database of business data, which is normally only available through laborious, manual research.