Hicomply Company Profile

Background

Hicomply, established in 2019, is a UK-based company specializing in Information Security Management Systems (ISMS). The company offers a cloud-based platform designed to assist organizations in building and managing their ISMS, ensuring the protection of business and customer data. Hicomply's mission is to streamline compliance processes, reduce risk, and enhance operational efficiency for businesses of all sizes.

Key Strategic Focus

Hicomply's strategic focus centers on providing comprehensive ISMS solutions that cater to various compliance frameworks, including ISO 27001, SOC 2, and GDPR. The platform integrates with multiple systems such as Trello, ServiceNow HR, Jira, Help Scout, GitHub, and GitLab, enabling seamless compliance management. By automating evidence collection and policy management, Hicomply aims to simplify the compliance journey for organizations, allowing them to maintain robust security postures and achieve certifications efficiently.

Financials and Funding

Since its inception, Hicomply has secured approximately $6 million in funding. Notable funding milestones include:

August 2020: Raised $784,000 in an early-stage venture capital round.

September 2021: Received investment from BGF, a growth capital firm, marking BGF's 19th transaction in the software sector and 265th in the United Kingdom.

June 2023: Secured an additional $576,000 in early-stage venture capital funding.

These investments have been instrumental in supporting Hicomply's product development, market expansion, and operational growth.

Pipeline Development

Hicomply continuously enhances its platform to support a wide range of compliance frameworks and standards. The company has recently expanded its offerings to include support for US-specific frameworks such as FedRAMP, reflecting its commitment to meeting the evolving needs of its global clientele.

Technological Platform and Innovation

Hicomply's platform is distinguished by several proprietary technologies and methodologies:

Built-In Policy Library: Offers pre-built templates aligned with industry standards, facilitating the creation and management of policies without starting from scratch.

Centralized Risk Register: Consolidates risk data, enabling organizations to identify, assess, and mitigate security threats efficiently.

Real-Time Progress Tracking: Provides dynamic dashboards for monitoring compliance progress, task completion, and audit preparations.

Task Scheduling: Automates compliance-related activities, ensuring timely completion and improving accountability within teams.

Customizable Frameworks: Allows organizations to tailor compliance frameworks to meet unique regulatory needs, ensuring alignment with specific industry standards.

Leadership Team

Hicomply's leadership comprises experienced professionals dedicated to driving the company's growth and innovation:

Edwin Bartlett: Chief Executive Officer & Board Member

Michael Norden: Chief Financial Officer & Board Member

Marius Aswegen: Co-Founder & Chief Operating Officer

Nicholas Graham: Co-Founder & Chief Technology Officer

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within Hicomply's leadership team.

Competitor Profile

Market Insights and Dynamics

The information security management sector is experiencing significant growth, driven by increasing regulatory requirements and the need for robust data protection measures. Organizations across various industries are seeking efficient solutions to manage compliance and mitigate security risks.

Competitor Analysis

Hicomply operates in a competitive landscape with several notable players:

Drata: Offers an advanced security and compliance automation platform, streamlining risk management and compliance frameworks such as SOC 2 and ISO 27001.

Vanta: Focuses on automating security and privacy compliance, helping businesses achieve certifications efficiently.

Scytale: Provides compliance automation and expert services for frameworks like SOC 2, ISO 27001, and GDPR.

Sprinto: Automates compliance requirements, integrating with business systems to ensure adherence to standards like SOC 2 and ISO 27001.

Thoropass: Offers solutions for security compliance, assisting organizations in meeting various regulatory requirements.

Strategic Collaborations and Partnerships

Hicomply has established strategic partnerships to enhance its market position and service offerings:

A-Lign: A US-based partner specializing in compliance and cybersecurity services.

Intensity: A Canadian partner providing compliance solutions.

These collaborations enable Hicomply to extend its reach and provide localized support to clients in North America.

Operational Insights

Hicomply's recent expansion into North America, with a new base in Denver, Colorado, underscores its commitment to global growth. This strategic move positions the company to better serve the increasing demand for compliance software in the US and Canada, particularly for SOC 2 and ISO certifications. The Denver location offers access to a thriving tech and compliance ecosystem, facilitating talent acquisition and partnership opportunities.

Strategic Opportunities and Future Directions

Looking ahead, Hicomply aims to:

Enhance Platform Capabilities: Continuously develop and integrate new features to support a broader range of compliance frameworks and industry standards.

Expand Global Presence: Build upon its North American expansion to enter additional international markets, catering to the growing global demand for compliance solutions.