# Panorays

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/panorays

- Industry: Software
- Headquarters: New York, US
- Website: www.panorays.com
- Total disclosed funding: $57M
- Latest round: Series C (Mar 27, 2023)
- Investors on record: 7

## About

Panorays Ltd., based in New York, US, specializes in cybersecurity solutions, specifically focusing on third-party risk management through innovative assessments and monitoring tools to enhance organizational security.Founded in 2016, Panorays Ltd. operates from its headquarters in New York, US, and focuses on third-party risk management. The company was co-founded by Demi Ben-Ari, Matan Or-El, and Meir Antar, with Matan Or-El serving as the CEO. Panorays has raised a total of USD 42.00 mn across multiple funding rounds, with the latest round being Series B, amounting to USD 42.00 mn, led by Greenfield Partners. Their most recent deal was finalized on March 27, 2023.Panorays offers a comprehensive suite of cybersecurity solutions focused on third-party risk management. The core of their product is the Risk DNA, which assigns real-time ratings to third-party connections, enabling organizations to adapt their security measures dynamically. This solution uncovers hidden risks across an enterprise's network by providing tailored external attack surface assessments and internal risk assessments specific to each business relationship. Additionally, Panorays features automated vendor assessment tools, compliance templates, and AI-driven validations to streamline the questionnaire process, enhancing the efficiency of third-party evaluations. The platform serves clients primarily in the financial services, healthcare, and technology sectors, with a significant presence in North America and Europe.Panorays operates on a subscription-based revenue model, providing tailored packages to enterprises that include services like risk assessments, monitoring tools, and remediation plans. Clients typically engage in annual subscriptions, allowing them to utilize Panorays’ platform for ongoing third-party risk management. The pricing plans are customized based on the organization size and vendor ecosystem complexity, ensuring that enterprises can effectively manage their cybersecurity needs. Their flagship offerings, such as Risk DNA and external attack surface monitoring, are integral to the services provided.In March 2023, Panorays Ltd. raised USD 42.00 mn in Series C funding, led by new investor 33N Ventures, with participation from returning investors Aleph, Greenfield Partners, and Oak HC/FT Partners. The company plans to utilize this funding to enhance its product offerings, including the development and launch of new features aimed at improving third-party risk management capabilities. Panorays aims to expand into new markets across Europe and Asia by the end of 2024, targeting organizations that require robust cybersecurity solutions to meet regulatory standards.

## Funding rounds

- Series C, Mar 27, 2023 — Aleph, Oak HC/FT, Greenfield Partners, 33N Ventures
- Series B, Sep 23, 2021, $42M — Greenspring Associates, Aleph, Moneta Venture Capital, Oak HC/FT, Greenfield Partners, BlueRed Partners
- Series A, Dec 4, 2019, $15M — Aleph, Oak HC/FT

## Investors

- Aleph (https://capitalatlas.ai/funds/aleph) — Series A, Series B, Series C
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series A, Series B, Series C
- Greenspring Associates (https://capitalatlas.ai/funds/greenspring-associates) — Series B
- Moneta Venture Capital (https://capitalatlas.ai/funds/moneta-venture-capital) — Series B
- Greenfield Partners (https://capitalatlas.ai/funds/greenfield-partners) — Series B, Series C
- BlueRed Partners (https://capitalatlas.ai/funds/bluered-partners) — Series B
- 33N Ventures (https://capitalatlas.ai/funds/33n-ventures) — Series C