Seattle compliance automation startup Strike Graph raises $8M to fuel growth and expand services – GeekWire
Seattle compliance automation startup Strike Graph has raised $8 million in a Series A funding round, the company announced Tuesday.
Launched in 2020 and spun out of Madrona Venture Labs, Strike Graph makes software that helps companies simplify and lower the cost of the SOC 2 certification process used by companies to ensure their service meets security and privacy standards.
Strike Graph’s platform intelligently gathers an understanding of customers’ businesses to identify the security activities that matter for compliance.
“Since we don’t treat every customer the same and our solution is customizable, we develop AI tools that uniquely identify security practices and standards for a customer,” co-founder and CEO Justin Beals said. “By organizing a customer’s effective practices first, we allow that customer to apply cybersecurity controls and evidence across a variety of standards, security questionnaires and trust activities.”
Strike Graph is growing internationally and plans to expand upon already supported frameworks of SOC 2, ISO 2700x, CCPA, HIPAA and GDPR standards. Strike Graph has achieved 4x growth in customer adoption on its platform since October 2020, and to date, 100% of its customers have successfully received a clean audit report.
The company is led by Beals, a veteran of NextStep, Koru, Roundbox Global, and other startups, along with Brian Bero, who previously co-founded Seattle tech stalwart Apptio and sold security startup Greytwist to SmartRIA.
Strike Graph, which raised $3.9 million in an October 2020 seed round, has raised $11.9 million in funding to date. The latest round was led by Information Venture Partners with participation from previous investors Madrona Venture Group, Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures.
The startup currently has 25 employees and is hiring for remote positions for engineering, marketing, product roles and more.