Home / SmartTech / Panorays Raises $ 15 Million to Automate Cybersecurity Lifecycle Management

Panorays Raises $ 15 Million to Automate Cybersecurity Lifecycle Management

Lifecycle management may not be the most exciting software segment on the market, but it is expected to grow from $ 50.7 billion in 2019 to $ 73.7 billion in 2024. A typical example: poorly managed projects exceed the budget by an average of 27% and project management initiatives to save companies 28 times more capital, thanks to "more reliable" results from these projects.

Three years ago, entrepreneurs Matan Or-El and Meir Antar began developing an automated lifecycle management product to address the challenges of cybersecurity. Their startup – Panorays – grew within a few months into a multi-million-dollar enterprise with surveillance and alerting systems that could track a company's cyberspace without installing or integrating with third-party systems.

After one year, New York-based New Panorays posted sales growth of 400%, impacting the business of brands such as Payoneer, Orbis, Clear Bank, Sapiens, Gett, Yes, Sompo, TestFairy, Clal Insurance, Monday. com, WalkMe and Cimpress It has secured $ 1

5 million in Series A funding. Oak HC / FT led the round, which included Aleph VC and former Palo Alto Networks CEO Lane Bess, bringing Panorays' total investment to around $ 20 million To uncover customers. At the same time, it manages provider questionnaires that take into account internal guidelines and are based on regulations such as the General Data Protection Regulation (GDPR) of the EU.

The surveys, which contain completely customer-selected questions, support conditions for clarifying responses and identify deal-breaker responses that imply problematic practices. They are automatically translated into the native language of a supplier and listed in tabular form (from 0 to 100) to characterize the conformity of a particular supplier.


Elsewhere, Panorays verifies the willingness of its suppliers in terms of presence, network robustness, and app-shielding. That is, it simulates the way a hacker tracks a target by continuously analyzing and updating data from more than 1,000 public sources as well as Panoray's own research results. In addition, it automatically detects previously unidentified providers by considering anomalies and dark web data that takes into account ratings as part of broader security queries.

With Panorays, third parties and companies can challenge findings on their platform. Validate the contested result and agree to refuse it from the ratings. Panorays automatically re-evaluates the company. On the troubleshooting page, Panorays lists all detected bugs and provides suggested solutions.

"Increasing data protection regulations, including GDPR and CCPA, and the growing risk of chain-of-supply attacks are changing the way companies use data protection and third-party cyber security," said Dan Petrozzo, Partner at Oak HC / FT who wishes to join the board of directors of the company. "Panorays is the only platform that enables businesses to quickly and easily increase the resilience of cyber networks across their supply chains without causing delays in operations. We are proud to support the Panorays team in making security an efficient and integrated part of the day-to-day business operations of companies.

Sign up for Funding Daily : Get the latest news in your inbox every day of the week.

Source link