SecurEnds, an identity governance company based in Atlanta, has secured a $21 million series A round of financing. The round was led exclusively by Elephant, a venture capital firm out of Boston.
This investment is one of the largest series A rounds for Atlanta technology startups, and will help the cybersecurity company with plans to triple its workforce over the next year, expand into Europe and Asia and invest in research and development. They plan to hire 75 people in Atlanta and 75 people abroad.
“Just two years since our first customer implementation and we’re thrilled by how the market has responded so positively to our product,” SecurEnds CEO Tippu Gagguturu wrote in a statement.
The startup, which helps organizations protect against data breaches and comply with regulations such as SOX, HIPAA, says it's had rapid growth. It experienced a 340% year-over-year revenue growth and has nearly 100 customers and numerous prominent tech partners, according to a news release.
"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," said Elephant partner Jeremiah Daly, who is joining SecurEnds’ board of directors.
SecurEnds was bootstrapped since its founding in 2017 and seeks to make it easier for companies to manage user access. It aims to scale growth over the next year to be more equipped to meet rising demand for software-as-a-service-based products. It will be expanding its sales, marketing, and engineering teams. It currently employs 60 people.
The company's other executives and board members include Devender Reddy and Christopher De Souza. See more about the raise here.
