Lifecycle management might not be the most exciting software segment on the block, but it’s poised to grow from $50.7 billion in 2019 to $73.7 billion by 2024. That’s likely because it’s very useful to companies juggling solutions from multiple vendors. Case in point: Poorly managed projects are estimated to go over budget by 27%, on average, and project management initiatives to save companies 28 times more capital, owing to “more reliable” output from those projects.
Three years ago, entrepreneurs Matan Or-El and Meir Antar began developing an automated lifecycle management product to address challenges in cybersecurity. Their startup — Panorays — grew into a multimillion-dollar operation in a matter of months, with monitoring and alerting systems designed to map a company’s cyber posture without requiring installation or integration with third-party systems.
After a year in which New York-based Panorays saw 400% revenue growth and snagged the business of brands like Payoneer, Orbis, Clear Bank, Sapiens, Gett, Yes, Sompo, TestFairy, Clal Insurance, Monday.com, WalkMe, and Cimpress, the startup today announced that it has secured $15 million in series A funding. Oak HC/FT led the round, with participation from previous investors Aleph VC and former Palo Alto Networks CEO Lane Bess, which brings Panorays’ total raised to about $20 million.
Cybersecurity monitoring
Panorays’ platform mimics thousands of hackers, performing reconnaissance to uncover a client’s attack vectors. Simultaneously, it manages vendor questionnaires that take into account internal policy, while aligning with regulations like the EU’s General Data Protection Regulation (GDPR).
The surveys, which feature wholly customer-selected questions, support conditionals for clarifying answers and flag “deal-breaker” responses implying problematic practices. They’re translated automatically into ..
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