Panaseer

About Panaseer

Panaseer is a cybersecurity company that provides a Continuous Controls Monitoring (CCM) platform designed for enterprise security. Founded in 2014 by Nik Whitfield, the company was established to address the challenge that most enterprises could not accurately measure their security posture. Whitfield previously built automated trading systems and advanced cybersecurity detection systems at BAE Systems Detica. The company is headquartered in Godalming, UK, with an office in New York.

The company operates on a software-as-a-service (SaaS) business model, where clients subscribe to its CCM platform. This model generates recurring revenue and allows Panaseer to provide ongoing support and platform enhancements. Its clients primarily consist of large enterprises, including major financial institutions and critical infrastructure companies that require robust security and regulatory compliance. Panaseer's platform aggregates and analyzes data from over 100 different security, IT, and business tools to provide a unified and comprehensive view of an organization's security posture. The platform uses data science and automation to continuously validate control gaps and security status, translating technical data into business-relevant insights. It helps organizations identify hidden risks, automate reporting, and make data-driven decisions to reduce cyber risk and ensure compliance with frameworks like NIST and CIS.

Since its inception, Panaseer has raised a total of $70.4 million over five funding rounds. Its latest funding was a $26.5 million Series B round in April 2021, led by AllegisCyber Capital. Other investors include Evolution Equity Partners, Notion Capital, and Cisco Investments. The company has demonstrated significant growth, reporting over 100% growth in 2021, following 300% growth in 2020.