Panorays, a New York-based leading provider of third-party security risk management, closed a $42 million Series B funding led by Greenfield Partners.
Existing investors Aleph and Oak HC/FT, new investors BlueRed Partners (Singapore), Greenspring Associates (was recently acquired by StepStone Group), and Moneta VC also participated in the round.
The investment will support the company’s growth as the global standard in transforming third-party security risk management and the fastest and easiest way for companies to do business together.
Panorays intends to use the funds to expand in the US and internationally, innovate and develop additional advanced tools to streamline security between organizations and their vendors.
Company: Panorays Ltd.
Raised: $42.0M
Round: Series B
Funding Month: September 2021
Lead Investors: Greenfield Partners
Additional Investors: Aleph, Oak HC/FT, BlueRed Partners, Greenspring Associates, and Moneta VC
Company Website: https://panorays.com/
Software Category: Security risk management
About the Company: Panorays is a rapidly growing provider of third-party security risk management software, offered as a SaaS-based platform. The company serves enterprise and mid-market customers primarily in North America, UK, and the EU has been adopted by leading banking, insurance, financial services, and healthcare organizations, among others. The company was recently named a Strong Performer in The Forrester New Wave™: Cybersecurity Risk Rating Platforms, Q1 2021 evaluation. Headquartered in New York and Israel with offices around the world.
Source: https://www.globenewswire.com/news-release/2021/09/23/2302144/0/en/Panorays-Closes-42-Million-Series-B-Funding-Round-to-Revolutionize-Third-Party-Security.html