What is Panorays?
Panorays offers a Software-as-a-Service (SaaS) platform designed to manage third-party security risks. The company caters to both enterprise and mid-market clients, with a strong presence in North America, the UK, and the EU. Its adoption by prominent organizations in banking, insurance, financial services, and healthcare highlights the critical need for robust vendor security assessment. Headquartered in New York and Israel, Panorays operates globally, providing a comprehensive solution for assessing and mitigating risks associated with external suppliers and partners.
How much funding has Panorays raised?
Panorays has raised a total of $62M across 3 funding rounds:
Unspecified
$5M
Series A
$15M
Series B
$42M
Unspecified (2018): $5M with participation from Aleph
Series A (2019): $15M led by Oak HC/FT Partners LLC
Series B (2021): $42M supported by Oak HC/FT, Aleph, BlueRed Partners, Greenfield Partners, Moneta VC, and Greenspring Associates
Key Investors in Panorays
Oak HC/FT
Oak HC/FT is a venture growth-equity fund focused on Healthcare Information & Services and Financial Services Technology. They provide strategic counsel and access to an extensive network for companies in these sectors.
Aleph
Aleph is an early-stage venture capital fund that partners with entrepreneurs to scale companies globally, investing across various sectors including fintech and AI.
BlueRed Partners
BlueRed Partners is a Singapore-based investment fund that focuses on disruptive, early, and growth-stage technology companies from Israel, aiming to target Asian markets.
What's next for Panorays?
The substantial enterprise-level funding Panorays has garnered, particularly the recent major strategic investment, positions the company for accelerated growth and market penetration. This capital infusion is likely to be directed towards enhancing its platform capabilities, expanding its sales and marketing efforts, and potentially exploring strategic acquisitions. The company's focus on serving critical sectors like finance and healthcare suggests a strategic emphasis on compliance and robust security protocols, which will likely remain central to its future development and go-to-market strategy.
See full Panorays company page
