Total amount raised
$62.3 Millions
Latest funding date
08/01/2023
Location
Hyperproof has successfully raised funds through multiple rounds, with its latest funding type being private equity. The company specializes in cloud-based compliance operations software, automating evidence collection and managing compliance programs.
With backing from investors like Riverwood Capital and Toba Capital, Hyperproof continues to grow and expand its operations. Keep reading to explore the intricacies of Hyperproof's fundraising journey and the investors supporting this innovative platform.
What Is Hyperproof?
Founded on August 17, 2018, Hyperproof is a cloud-based compliance operations software company located in Bellevue, Washington. The company was established by Craig Unger and currently employs between 101-250 people.
Hyperproof specializes in cloud computing, compliance, cybersecurity, enterprise software, risk management, SaaS, and software. Their platform automates evidence collection and manages compliance programs, helping organizations reduce administrative work and mitigate risks.
How Much Funding Has Hyperproof Raised?
- Angel Round
- Amount Raised: $3M
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Seed Round
- Amount Raised: $2.8M
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance market presence.
- Series A
- Amount Raised: $16.5M
- Date: October 2021
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To cement market position and expand product offerings.
- Private Equity Round
- Amount Raised: $40M
- Date: August 2023
- Lead Investors: Riverwood Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand enterprise-grade offerings and innovate with advanced heuristics and AI.
Total Amount Raised: $62.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Riverwood Capital
- Details: Riverwood Capital is a private equity firm that invests in high-growth technology companies. They focus on scaling businesses and providing operational expertise to help companies grow.
- Investment Focus Areas: High-growth technology companies, scaling businesses, operational expertise.
- Notable Investments: Hyperproof.
- Toba Capital
- Details: Toba Capital is an early-stage venture capital firm that invests in software and technology companies. They aim to support companies through their growth stages with both capital and strategic guidance.
- Investment Focus Areas: Early-stage software and technology companies, growth stages, strategic guidance.
- Notable Investments: Hyperproof.
What's Next for Hyperproof?
Hyperproof stands at the cusp of significant growth, driven by the increasing demand for compliance and risk management solutions. With a recent $40 million investment, the company is poised to expand its enterprise-grade offerings and innovate with advanced heuristics and AI. This financial backing underscores the substantial market opportunities available, as Hyperproof continues to automate laborious compliance tasks and upscale risk workflows.
Future fundraising opportunities seem promising, given the company's impressive growth trajectory, including a 260% revenue increase and a tripling of its customer base. As Hyperproof scales, it may attract further investments to support its expansion and innovation efforts. However, the company will need to navigate challenges such as adapting to rapidly changing regulatory environments and maintaining the pace of innovation to stay ahead of competitors.
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