Hyperproof Inc., a startup that assists businesses in adhering to cybersecurity and privacy regulations, has raised USD 40 million in new capital. The round was led by Riverwood Capital.
Recently, Hyperproof announced the investment and mentioned that current backer Toba Capital also contributed. The business has raised a total of USD 62.3 million in funding since it began operations in 2018.
The founder and CEO of Hyperproof, Craig Unger, stated in a blog post, “This round of funding will empower us to grow alongside our customers and continue offering them innovative new capabilities to meet their evolving enterprise needs.”
Businesses in the European Union that gather consumer data must make sure that their data use complies with GDPR, the region’s privacy law.
Read More: Hyperproof reels in $40M for its regulatory compliance platform
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