About Paramify
Paramify is a company based in Provo (United States) founded in 2022 by Tyler Stephens and Kenny Scott.. Paramify has raised $3.5 million across 1 funding round from investors including Album VC and Next Frontier Capital. Paramify offers products and services including SSP Management, POA&M Management, and Security Gap Assessments. Paramify operates in a competitive market with competitors including EASE, Lumiform, AuditFile, AuditCue and AINS, among others.
- Headquarter Provo, United States
- Founders Tyler Stephens, Kenny Scott
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.5 M (USD)
in 1 rounds
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Latest Funding Round
$3.5 M (USD), Seed
Aug 20, 2024
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Investors
Album VC
& 1 more
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Employee Count
Employee Count
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Products & Services of Paramify
Paramify offers a comprehensive portfolio of products and services, including SSP Management, POA&M Management, and Security Gap Assessments. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates creation of SSPs, policies, and procedures for security standards.
Automates POA&M document generation and deadline tracking for compliance.
Identifies security weaknesses and provides recommendations for improvements.
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Leadership Team
2 people
Sales and Marketing
1 people
Product Management Team
1 people
Client Team
1 people
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Funding Insights of Paramify
Paramify has successfully raised a total of $3.5M through 1 strategic funding round. The most recent funding activity was a Seed round of $3.5 million completed in August 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $3.5M
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First Round
First Round
(20 Aug 2024)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2024 | Amount | Seed - Paramify | Valuation | Album VC |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Paramify
Paramify has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Album VC and Next Frontier Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments are directed toward early-stage tech startups by Album VC.
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Founded Year | Domain | Location | |
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Venture capital investments are provided to technology-driven startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Paramify
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Paramify
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paramify Comparisons
Competitors of Paramify
Paramify operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as EASE, Lumiform, AuditFile, AuditCue and AINS, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Plant floor audits are managed via mobile tools for manufacturers.
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| domain | founded_year | HQ Location |
Cloud-based software for quality and safety procedures is offered.
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| domain | founded_year | HQ Location |
Cloud-based auditing solutions for CPA firms are automated.
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| domain | founded_year | HQ Location |
Audit management solutions are delivered through a specialized platform.
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| domain | founded_year | HQ Location |
Cloud-based case management and background verification solutions are offered.
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| domain | founded_year | HQ Location |
Digital platform for audits, inspections, and compliance management in various sectors.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Paramify
When was Paramify founded?
Paramify was founded in 2022 and raised its 1st funding round 2 years after it was founded.
Where is Paramify located?
Paramify is headquartered in Provo, United States. It is registered at Provo, Utah, United States.
Who is the current CEO of Paramify?
Kenny Scott is the current CEO of Paramify. They have also founded this company.
Is Paramify a funded company?
Paramify is a funded company, having raised a total of $3.5M across 1 funding round to date. The company's 1st funding round was a Seed of $3.5M, raised on Aug 20, 2024.
What does Paramify do?
Paramify was founded in 2022 in Provo, United States, within the cybersecurity and compliance technology sector. A platform is offered to organizations for building and maintaining enterprise security programs. Compliance tasks are automated, and consulting processes are streamlined. Data protection policies and procedures are updated automatically to align with evolving regulations. Operations focus on supporting regulatory adherence across various industries.
Who are the top competitors of Paramify?
What products or services does Paramify offer?
Paramify offers SSP Management, POA&M Management, and Security Gap Assessments.
Who are Paramify's investors?
Paramify has 2 investors. Key investors include Album VC, and Next Frontier Capital.
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