Hyperproof, a Bellevue, Washington, DC-based SaaS-based risk and compliance management company, raised $40 million in growth funding.
SaaS Investors
The round was led by Riverwood Capital, with participation from existing investor Toba Capital.
Riverwood Capital is a private equity firm that invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. Riverwood has offices in Menlo Park, CA; New York, NY; Miami, FL; and São Paulo, Brazil. For more information visit riverwoodcapital.com
Hyperproof Use of Funds
The company intends to use the funds to expand its enterprise-grade offerings and develop new technologies with advanced heuristics and artificial intelligence to automate manual processes and scale compliance and risk workflows.
About Hyperproof
Led by Craig Unger, CEO, and Founder, Hyperproof is a SaaS platform that empowers compliance, risk, and security teams to automate and scale their workflows without the burden of jumping between multiple legacy platforms and spreadsheets. Its platform enables teams to get complete visibility into their organizational risks, streamline the audit process, and reduce their compliance workloads.
Hyperproof, used by organizations like Veeva Systems, Fortinet, Motorola, Outreach, and 3M, also supports over 85 broadly applicable and industry- and state-specific frameworks, such as SOC 2, ISO 27001, NIST 800-53, NIST CSF, FedRAMP, CCPA, GDPR, HIPAA, among others. Customers include Reddit, Motorola, Nutanix, Applovin, and Veeva Systems.
Funding Details
Company: Hyperproof, Inc.
Raised: $40.0M
Round: Growth Funding
Funding Month: August 2023
Lead Investors: Riverwood Capital
Additional Investors: Toba Capital
Company Website: https://hyperproof.io/
Software Category: Risk and Compliance Management Software
Source: https://www.finsmes.com/2023/08/hyperproof-closes-40m-growth-funding.html