The Challenge of Security Compliance

While not always a popular topic, security compliance is a vital, yet often demanding, process that organizations must undertake annually. This process demonstrates that their security measures meet required standards.

This requirement disproportionately impacts startups, leading them to actively seek more efficient solutions.

Introducing Secureframe

Secureframe, a security compliance startup established by Shrav Mehta and Natasja Nielsen, believes it has developed such a solution.

Series A Funding

The company has announced the successful completion of an $18 million Series A funding round.

Kleiner Perkins led the investment, with additional participation from Gradient Ventures and Base10 Partners, who previously spearheaded Secureframe’s $4.5 million seed round.

This seed funding occurred less than a year after the company’s founding in January 2020.

Streamlining Cybersecurity Certifications

Secureframe assists businesses in maintaining crucial cybersecurity certifications, specifically SOC 2 and ISO 27001.

Many organizations mandate these certifications before establishing business relationships.

Secureframe’s platform integrates with a wide range of commonly used cloud services and applications to assess a customer’s security status.

The company claims this integration enables businesses to achieve certification and compliance in a matter of weeks, a significant reduction from the typical timeframe of months.

Growth and Expansion

Shrav Mehta, co-founder and CEO of Secureframe, revealed to TechCrunch that the platform is delivering substantial results.

The company has experienced a tenfold increase in revenue growth over the past six months and has onboarded over 100 new clients, including software company Hasura and Omni, a graduate of the Y Combinator summer 2020 program.

Mehta stated that the new funding will facilitate the company’s expansion beyond its current two certifications.

The goal is to evolve into a comprehensive, enterprise-level risk and compliance management platform.

Future Goals

Future development will include support for regulations like U.S. health privacy rules (HIPAA) and PCI compliance for secure credit card processing.

Long-term, Mehta envisions Secureframe designing and offering its own proprietary compliance certifications.

Industry Recognition

Josh Coyne of Kleiner Perkins commented that Secureframe is at the forefront of modernizing security compliance.

He stated that Secureframe is “turning the industry on its head by automating compliance certifications end-to-end, serving as the single source of truth for commercial compliance.”