Security News > 2022 > February > Millions of dollars pour into security compliance startups amid pressure on business

Standards compliance startup Secureframe, launched in 2020, this week announced a $56m in Series B funding, led by Accomplice Ventures and coming less than a year after the company raised $18m. Shrav Mehta, founder and CEO of the New York City-based company, wrote in a blog post that the latest funding round "Is a major milestone for our fast-growing company and a signal to the market that automation is the future of security and compliance. This new financing underscores the tremendous demand for solutions that streamline the compliance process and help organizations achieve best-in-class security."

"New regulations, emerging security frameworks, and rising customer expectations put significant strain on growing companies, and too many organizations are trying to keep up using disconnected security tools and manual compliance reviews," Mehta wrote.

In a blog post in November announcing the funding, Drata CEO Adam Markowitz wrote that he and the other co-founders "Knew if we could leverage automation, we could empower companies with insights and intelligence on their security posture in real time and save them hundreds of hours a year in proving that security posture before, during, and in between compliance audits - essentially putting security and compliance on autopilot."

Kevin Dunne, president of cybersecurity firm Pathlock, told The Register that security compliance is a growing concern for businesses.

"In response, many companies are increasing the scrutiny and security compliance requirements for the solutions they leverage, especially those in the cloud. This is pushing many software vendors to undergo more rigorous and frequent audits for security standards like SOC 1 and 2.".

Rather, "Technologies that turn a point-in-time compliance checkbox into a true continuous security model are drastically changing how security is performed. Additionally, the shift to cloud-based systems and API driven technologies are creating an environment where automation can be used to build a truly impressive cyber security program."

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