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NY-based Panorays secures $15 Million in Series A round

Panorays

Dan Petrozzo, Partner at Oak HC/FT

Panorays, a New York-based provider of automated third-party security solutions has nabbed $15 million in a Series A funding round led by Oak HC/FT. Dan Petrozzo, partner at Oak HC/FT will join the company’s Board of Directors.

Previous investors Aleph VC and security industry veteran Lane Bess, the former CEO of Palo Alto Networks, also participated in the round, according to a statement.

“The increase in data privacy regulations, including GDPR and CCPA, and the growing risk of supply chain attacks are changing the way companies approach data privacy and third-party cybersecurity. Panorays is the only platform that enables companies to quickly and easily increase cyber resilience across their supply chains without operational delays,” Oak HC/FT Partner Dan Petrozzo commented.

Panorays provide the required visibility and control for companies to build and easily scale their third-party security programs through automation. By combining smart, customizable questionnaires with a continuous hacker’s view of the evaluated vendor, the supplier enables companies to speed up their third-party security evaluation process. The platform also helps them gain visibility while ensuring compliance with regulations such as GDPR and NYDFS.

With the new capital, Panorays plans to expand its marketing and sales initiatives to accelerate global growth. The funding will also be used to drive research and development to evolve the platform, support growing privacy regulations and eliminate inefficient workflows, the statement added.

Panorays is a SaaS-based platform, with no installation needed. It claims to be the only platform that enables companies to easily view, manage and engage in the security posture of their third parties, vendors, suppliers and business partners.

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