Panorays, a NYC-based provider of automated third-party security lifecycle management, raised $15m in Series A funding.
The round was led by Oak HC/FT, with participation from Aleph VC and Lane Bess. In conjunction with the funding, Dan Petrozzo, partner at Oak HC/FT, will join the company’s Board of Directors.
The company intends to use the funds to expand its marketing and sales initiatives to accelerate global growth and conduct research and development to continually evolve the platform to support privacy regulations and eliminate inefficient workflows.
Led by Matan Or-El, co-founder and CEO, Panorays provides a SaaS based automated third-party security lifecycle management platform for companies to view, manage and engage on the security posture of their third parties, vendors, suppliers and business partners.
The solution provides 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, Panorays enables companies to speed up their third-party security evaluation process.
In the past year, the platform has been adopted by leading technology, software, financial, healthcare, automotive and retail companies.