RADAR, Inc. Launches as Independent Company, Backed by $6.2 Million Investment
Launch is fueled by demand for incident response management; Acquisition of top talent; Accolades for innovative incident response management platform
PORTLAND, Ore., Aug. 23, 2016 /PRNewswire/ -- RADAR, the leading provider of award-winning incident response management software, announced today that it is now an independent company. RADAR, Inc. received Series A funding of $6.2 million. The company will be headquartered in Portland, Oregon and led by Mahmood Sher-Jan, CEO and inventor of RADAR. The RADAR Board of Directors includes chairman Kevin Padrick, Rick Miller, Allen Alley, and Mahmood Sher-Jan.
Started as a business unit of ID Experts, RADAR has operated as an autonomous software business since 2014 and has experienced tremendous growth in that time. Over the last 12 months its average contract value (ACV) and monthly recurring revenue (MRR) have more than doubled, and RADAR has added a dozen new Fortune 500 companies to its customer roster. In addition, RADAR has doubled its staff headcount in the last year, recruiting top talent across all areas of the business, including three new senior management hires.
Doug Kruger, senior vice president of sales and business development, is responsible for new customer acquisition, revenue growth, and strategic alliances. With 25 years of experience in senior level sales and sales management positions, Doug was most recently at cybersecurity firm FireEye/Mandiant. Dylan Anderson, head of finance, brings more than 20 years of experience and financial management. Dylan previously held CFO positions at Urban Airship, Max-Vix, Chirpify, and Strands. Alex Wall, CIPP/US, CIPP/E, Senior Counsel and Global Privacy Officer, brings more than a decade of experience in privacy, security, and leadership as well as a unique mix of legal, technical, and management skills. Alex began his legal career at Fried Frank, LLP, in New York, and more recently held management positions at SaaS software providers and in private practice.
"RADAR is solving a significant compliance problem facing companies that suffer privacy and security incidents and struggle with determining whether those incidents are notifiable under complex state and federal breach laws," said Kevin Padrick, chairman of RADAR's Board of Directors. "This is an underserved market that is hungry for the innovation, guidance, and efficiency that RADAR provides. The company is well positioned to maximize the opportunities ahead."
Revolutionizing Incident Response Through Innovation
Leading organizations in heavily regulated industries—healthcare, finance, and insurance—already trust RADAR, with its patented Breach Guidance Engine™, to profile and score data privacy and security incidents and then generate specific notification guidance to help ensure consistency and compliance with federal and state regulations. Continuing its culture of innovation, in April 2016, RADAR introduced a new, patented, first-to-market approach to managing contractual notification obligations to help clients simplify compliance with their third-party contracts. Combined with its patented multi-factor and multi-jurisdictional engine, and up-to-date legal intelligence, RADAR holds multiple patents and is the only solution of its kind on the market.
"With RADAR, we are empowering customers to take control of their privacy and security incidents, incidental or malicious" said Mahmood Sher-Jan, CEO and inventor of RADAR. "With our talented team of engineers, regulatory content and product managers, we are revolutionizing incident response management. Our new independence will expand our go-to-market opportunities and further fuel innovation in the RADAR platform, allowing us to accelerate the introduction of new features and enhancements so that we can continue to foster strong collaboration with our customers and to deliver exceptional value, support, and return on investment."
This year, RADAR was honored with two prestigious awards for management team of the year and product excellence byInfo Security's 2016 Global Excellence Awards. Additionally, RADAR was a finalist in the category of "Most Disruptive" for the 2016 Oregon Technology Awards.
About RADAR
RADAR is focused on easing the burden of incident risk assessment and simplifying compliance with data breach laws through innovation and purpose-built automation. Its award-winning, multi-patented SaaS-based incident response management platform is used by leading insurance, financial services, healthcare, and third-party services organizations to assess and respond to security and privacy incidents, reduce risk, and ensure consistency in compliance with data breach laws. Learn more at radarfirst.com.
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