SecurityPal

SecurityPal

Automates assurance lifecycle to build trust

Overview

SecurityPal provides an Assurance Management Platform that automates and scales trust for organizations. It combines AI Agents and certified security experts to manage the entire assurance lifecycle—security questionnaires, trust center management, vendor risk assessments, audit readiness, and vCISO support. The platform centralizes knowledge and enables GRC and Sales teams to speed up reviews and improve accuracy. Their goal is to help organizations automate trust, present a solid security posture to customers, and close deals faster.

About SecurityPal

Simplify's Rating
Why SecurityPal is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consulting

Enterprise Software

Cybersecurity

Company Size

201-500

Company Stage

Series A

Total Funding

$21M

Headquarters

San Francisco, California

Founded

2020

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Simplify's Take

What believers are saying

  • $21M Series A from Craft Ventures in 2022 fuels platform expansion.
  • Bil Harmer joins as Board Observer, Lena Smart as Head of Trust in 2024.
  • Nepal SOCC in Kathmandu lowers costs while funding local school in 2024.

What critics are saying

  • ServiceNow integrates AI into GRC, commoditizing SecurityPal by 2027.
  • OpenAI or Figma loss craters revenue due to customer concentration.
  • SEC probes AI assessments, imposing liability within 12 months.

What makes SecurityPal unique

  • SecurityPal fuses AI agents with certified experts for 12-hour questionnaire turnarounds.
  • CAx platform centralizes GRC postures, streamlining vendor assessments end-to-end.
  • Serves OpenAI, Figma, Plaid, Snap as pioneer Assurance Management Platform since 2020.

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Funding

Total Funding

$21M

Above

Industry Average

Funded Over

1 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$21M
SecurityPal
$30M
Kalshi

Growth & Insights and Company News

Headcount

6 month growth

-7%

1 year growth

-3%

2 year growth

4%
PR Newswire
Nov 26th, 2024
Securitypal Strengthens Leadership With Security Veterans Bil Harmer, Operating Partner And Ciso At Craft Ventures, And Lena Smart, Former Ciso Of Mongodb

SAN FRANCISCO, Nov. 25, 2024 /PRNewswire/ -- SecurityPal, the leading provider of security review solutions for enterprise and high-growth companies, is proud to announce the appointment of two respected cybersecurity leaders to its team. Bil Harmer, Operating Partner Chief Information Security Officer (CISO) at Craft Ventures, joins as Board Observer, while Lena Smart, former CISO of MongoDB and New York Power Authority, steps in as Head of Trust. These strategic appointments come as SecurityPal continues its mission to simplify and accelerate security reviews for some of the most security-conscious companies in the world, including OpenAI, Figma, Plaid, and Snap. SecurityPal's unique fusion of advanced AI technology and certified, expert security review analysts has enabled it to offer the fastest, most accurate security review solution available. Bil Harmer, Operating Partner CISO at Craft Ventures and a recognized thought leader in enterprise security, brings deep expertise from previous leadership roles, including his time as CISO at Zscaler and as Vice President of Security Global Privacy, Officer at SuccessFactors, acquired by SAP

PYMNTS
Jul 3rd, 2024
How The Un Ai Resolution Could Reshape Commerce

The United Nations General Assembly greenlit Monday (July 1) a China-sponsored, United States-backed resolution on artificial intelligence, signaling a potential sea change in global AI regulation and commerce. This cooperation between the two tech titans comes just months after a U.S.-led AI safety measure, highlighting the complex dance of collaboration and rivalry in the race to shape AI’s future. The nonbinding resolution, which garnered support from over 140 sponsors, calls on wealthy nations to ensure equal opportunities for developing countries in AI use and benefits. It emphasizes the need for a “fair, open, inclusive and nondiscriminatory business environment” in AI development and deployment, potentially reshaping global trade dynamics in the tech sector

Business Wire
Feb 7th, 2024
Securitypal Funds Primary School In Rural Nepal In Partnership With Team Dayā

SAN FRANCISCO--(BUSINESS WIRE)--SecurityPal, a market leader in customer assurance technology, has provided matching funds towards the construction of a primary school in the Western Terai region of Nepal in Spring 2024. Through an initiative led by Team Dayā, the funding will seed efforts to raise the remaining funds prior to the school’s ground breaking. “Working with Team Dayā to deliver durable school infrastructure for communities that struggle with high rates of illiteracy and poverty represents an opportunity for generational impact,” said SecurityPal CEO Pukar C. Hamal. Hamal is from a rural Nepalese village in the Western Terai region, and the SecurityPal’s Security Operations Command Center is based in the country’s capital of Kathmandu

Yahoo Finance
Feb 7th, 2024
SecurityPal Funds Primary School in Rural Nepal in Partnership with Team Dayā

SecurityPal funds primary school in rural Nepal in partnership with Team Dayā.

SecurityPal
Feb 24th, 2023
SecurityPal Launches Operations in Nepal

SecurityPal recently announced the launch of its Security Operations Command Center (SOCC) in Kathmandu, Nepal.

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