Hyperproof, a Bellevue, Washington, DC-based SaaS-based risk and compliance management company, raised $40M in Growth funding.
The round was led by Riverwood Capital, with participation from existing investor Toba Capital.
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.
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.