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Panorays, a provider of third-party security risk management, announced a $42 million Series B funding round led by Greenfield Partners. The investment will help the company strengthen its position as the global benchmark for transforming third-party security risk management.
Panorays, a provider of third-party security risk management, has announced that it has raised $42M in a Series B funding round led by Greenfield Partners. Other participants include Aleph, Oak HC/FT, BlueRed Partners, Greenspring Associates, and Moneta VC.
The investment will help the company grow as the global standard in transforming third-party security risk management and the quickest and easiest way for businesses to do business together. Panorays intends to use the funds to expand in the United States and internationally and innovate and develop new advanced tools to improve security between organizations and their vendors.
In the wake of a tumultuous year in the industry, with numerous supply chain attacks including SolarWinds, Accellion, Kaseya, and Codecov, businesses are searching for a solution to manage third-party security risk. Panorays’ innovative technology ensures that companies seamlessly work together with their vendors to minimize security risks.Matan Or-El, Co-Founder and CEO of Panorays,
Panorays provides a third-party security platform that is automated, comprehensive, and simple to use, managing the entire process from inherent to residual risk, remediation, and ongoing monitoring. Panorays, unlike other solution providers, combines automated, dynamic security questionnaires with external attack surface assessments and business context to provide organizations with a quick, accurate picture of supplier cyber risk.
It is the only platform of its kind that automates, accelerates, and scales customers’ third-party security evaluation and management processes, allowing for simple collaboration and communication between companies and suppliers, resulting in efficient and effective risk remediation as per a company’s security policies and risk appetite.