TrustMAPP Successfully Closes First Funding Round
Company’s sales momentum draws strong interest from cybersecurity industry veterans
Minneapolis, MN – September 8, 2020 – TrustMAPP announced today that they have closed their first funding round, led by John Stewart at Talons Ventures and Ray Rothrock, with a group of experienced, successful cybersecurity entrepreneurs and CEOs.
The funding further validates the new category that TrustMAPP created when it launched five years ago, Security Performance Management (SPM). This builds on the recognition that came recently when legendary CISO Ed Amoroso wrote about requirements for the SPM category.
TrustMAPP’s SaaS platform automates security posture workflow, letting cyber security teams move faster, and react more quickly to emerging risks and regulations. It permits continuous visibility and fine-tuning as the pace of change speeds up. TrustMAPP enables CISOs to confidently discuss business-centered security conversations with their Board of Directors, establishing transparency and accountability. This approach provides security teams the decision support system they need to run their security program as a function of the business.
The funding will allow TrustMAPP to grow the firm globally, expanding into the EMEA region. Globally, the market that TrustMAPP is addressing is $12 billion annually.
“Talons Ventures is excited to participate in this exciting opportunity,” said John Stewart, Founder of Talons Ventures. “Rarely do you see investment opportunities that have a fully built product, robust pipeline, and world class partners in a space that is ripe for innovation. The TrustMAPP platform is built by CISOs, for CISOs to quantify security investment to Board of Directors. TrustMAPP is the clear leader in the emerging space called Security Performance Management.”
“With TrustMAPP, our vision of aligning information security to business outcomes with Security Performance Management has become a reality,” said Chad Boeckmann, Founder and CEO of TrustMAPP. “Raising these funds during the COVID-19 pandemic is a testament to our team, our execution, and our investors’ belief in the market challenge TrustMAPP solves.”
About TrustMAPP
TrustMAPP delivers continuous Security Performance Management, giving CISOs a real-time view of their cybersecurity maturity. TrustMAPP tells you where you are, where you’re going, and what it will take to get there. From a single source of data, an organization’s security posture is visible based on stakeholder perspective: CISO, C-Suite, and Board. TrustMAPP gives organizations the ability to manage security as a business, quantifying and prioritizing remediation actions and costs.
Press contact: Andrew Lochart, alochart@trustmapp.com
