Hyperproof, an innovative SaaS-based risk and compliance management company, is making waves in the industry.
The firm has announced a close on a $40m growth investment. The round was led by Riverwood Capital, known for their keen interest in high-growth technology companies. Toba Capital, an existing investor, also participated.
With a global landscape that continues to evolve, companies are facing novel threats, risks, and regulations. Regulatory bodies are enhancing their scrutiny, and companies must adapt quickly. Enter Hyperproof. The company offers an answer by giving businesses a panoramic view of their risk and compliance postures.
It encourages stronger team collaboration and tackles inefficiencies, a common problem for expanding companies. Their platform supports over 85 frameworks such as SOC 2, ISO 27001, and GDPR, among many others.
The new funding will serve as fuel for Hyperproof’s ambitious plans. They aim to expand their enterprise-grade offerings and innovate with advanced heuristics and artificial intelligence. Their focus? To automate laborious manual tasks and upscale compliance and risk workflows.
In a year, Hyperproof has made significant strides, tripling its customer base since 2022. The company has also forged critical partnership agreements with renowned global firms, notably Grant Thornton.
Their clientele now boasts names like Reddit, Motorola, and Nutanix. Not just confined to one sector, their platform caters to diverse industries, including technology and healthcare. Highlighting its industry impact, Hyperproof reported a whopping 260% surge in revenue since last year.
Hyperproof CEO and Founder Craig Unger said, “The Hyperproof platform delivers the flexibility, customization, powerful reporting, scalability, and workflow optimization our customers need to get ahead of compliance requirements and stay relevant. We at Hyperproof are tireless champions of our customers, prioritizing their needs in every decision we make. This round of funding will empower us to grow alongside our customers and continue to offer them innovative new capabilities to meet their ever-evolving enterprise needs.”
Jeff Parks, Co-Founder & Managing Partner at Riverwood Capital, commented, “The incredible ROI of implementing Hyperproof’s platform is immediate and undeniable, and we are thrilled to partner with Craig and the impressive team he has built at Hyperproof as they mitigate this universal pain point and help companies transform compliance and reporting into a unique advantage.”
Lastly, Ramesh Venugopal, Partner at Riverwood Capital and a new member of Hyperproof’s Board of Directors, shared, “Hyperproof’s cloud-based platform is well positioned to replace outdated enterprise infrastructure that drains a company’s time and resources. We are excited to partner with Hyperproof on their mission to help companies differentiate themselves with complete visibility into their compliance postures.”
In a previous funding round, Hyperproof successfully garnered investment from Toba Capital, cementing its position in the market.
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