04 December 2019:
Panorays has raised $15 million in Series A round of funding. The funding round was led by Oak HC/FT. Aleph VC and security industry veteran Lane Bess (former CEO of Palo Alto Networks) also participated in the funding round.
As part of funding, Dan Petrozzo, partner at Oak HC/FT, will join the company’s Board of Directors.
The company will use the fresh capital to expand its marketing and sales initiatives to accelerate global growth. The company will also use the funds to drive research and development to continually evolve the platform to support growing privacy regulations and eliminate inefficient workflows.
Matan Or-El, co-founder and CEO of Panorays, said, “Panorays is reestablishing trust between businesses by facilitating secure partnerships with companies and their third-party vendors.”
Matan Or-El, added, “Panorays’ mission is to dissipate concerns over fulfilling the necessary security requirements and rebuild trust by providing visibility and mitigating risk. We’re fortunate to have a partner like Oak HC/FT that recognizes this pain point and the dire need for businesses to speak a common security language.”
Dan Petrozzo, Partner at Oak HC/FT, said, “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.”
Dan Petrozzo, added, “Panorays is the only platform that enables companies to quickly and easily increase cyber resilience across their supply chains without operational delays. We’re proud to back the Panorays team as they continue to make security an efficient, integrated part of companies’ daily business operations.”
(Image – Panorays)