41 Million Reasons Why Grip Security is a Leader
Aug 22, 2023
Aug 22, 2023
Grip Security has secured $41 million in series B funding, bringing our total funding to an impressive $66 million.
As the CEO and co-founder of Grip Security, I am proud to announce a momentous milestone for our company, that serves as a testament to our pioneering innovation and the critical need for SaaS identity risk management in the market. Grip Security has secured $41 million in series B funding, bringing our total funding to an impressive $66 million. When we founded the company, my cofounders and I recognized that accelerated adoption of SaaS was creating unique risks that needed to be addressed. We saw clearly that conventional approaches would not suffice, and a new paradigm was needed. With this vision in mind, we set out to build a company that develops cutting edge technology, fosters an inclusive culture, and recruits the best talent in the industry. Together, we set out to shape an emerging market and help CISOs address one of the most pressing issues they face in modern cybersecurity.
Digital transformation has changed IT, and we now live in an era where data is stored everywhere and accessed from any corner of the globe, made possible by the accelerating adoption of SaaS applications. The relentless surge in SaaS adoption shows no signs of slowing down, indicating that the problem of SaaS identity risk will only intensify. CISOs find themselves grappling with the tradeoff between controlling SaaS identity risk and allowing the business to use the best applications to achieve their business objectives. With Grip Security, they do not have to make this impossible tradeoff and empower their business partners to embrace the use of SaaS.
Our highly acclaimed Grip SaaS Security Control Plane (SSCP) platform has garnered recognition as one of the most innovative cybersecurity products available, offering a comprehensive approach to manage SaaS identity risks. By leveraging identity as the primary control point, we deliver the industry's most advanced solution to discover, prioritize, secure, and orchestrate the mitigation and remediation of these risks. The value of this innovative approach has been validated by the feedback we have received from the market and evidenced by our extraordinary growth during one of the most challenging economic times. Focusing on a critical problem and solving it well has made Grip Security the industry leader in mitigating and remediating these risks.
The infusion of new funds allows us to accelerate our ambitious growth strategy. We have plans to expand our investment in research and development, bolstering our go-to-market initiatives, and cementing our position as the industry leader. We take immense pride in our ability to execute and deliver results, and that is shown by our more than 400% bookings growth and winning contracts with multiple Fortune 500 companies. The new funding round provides us the financial resources to propel the company through its next phase of growth and deliver even more impressive results.
The leadership team and I are fully committed to scaling Grip Security to new heights. With nearly 75,000, and growing, SaaS apps available, the need for effective controls to manage identity sprawl has never been more critical. At Grip Security, we understand that every company is vulnerable to the risks caused by the proliferation of SaaS apps, and our platform provides the best solution in the industry. We invite all CISOs to explore the future of cybersecurity with Grip Security. Our platform empowers companies to navigate the dynamic landscape of SaaS identity risks, safeguarding their operations and ensuring a secure digital transformation that is more resilient in the digital world.
Grip is growing super-fast, and I would love to support your journey in safely transforming your organization into the SaaS reality. Please reach out here if you’re interested in learning about Grip’s value and tech.
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