Cloud-native Identity Governance company SecurEnds has closed a $21 million Series A led exclusively by Elephant. According to the company, the investment – one of the largest A-rounds in Atlanta’s cybersecurity and tech startup ecosystem to date – comes following an impressive 340% increase in year-over-year annual recurring revenue.
The company plans to primarily use the funding to scale operations and product development, and for geographic expansion into untapped markets across Europe and Asia.
Over the next 12 months, SecurEnds intends to nearly triple its workforce, filling more than 125 sales, marketing, and product engineering roles both in the US and worldwide. As part of the transaction, Jeremiah Daly and Christopher De Souza, Partners at Elephant, will join the Board of Directors.
Leveraging AI and ML-enabled predictive analytics, SecurEnds has built a versatile product without the constraints of incumbent legacy on-prem solutions, providing high ROI, strong time to value, and lower total cost of ownership than legacy solutions in the market.
Previously bootstrapped by its founders, SecurEnds now boasts nearly 100 customers and maintains prominent technology and reseller partnerships around the world.