RADAR, an incident response management software vendor, today has announced it has launched as an independent company. RADAR began as a business unit of ID Experts, a vendor of data privacy and security software and services.
The company received $6.2 million of Series A funding and has doubled its average contract value and monthly recurring revenue. Further, RADAR has added 12 new Fortune 500 companies to its customer roster and doubled its leadership within the last year, including three senior management hires.
As the target on the healthcare industry continues to grow larger, the need for incident response management increases. According to RADAR executives, the launch is a response to address these needs.
The company provides a Breach Guidance Engine, which profiles and scores data privacy and security incidents to generate notification guidance for companies to remain compliant with federal and state regulations.
In April 2016, RADAR launched a service to manage contractual notification obligations to help its customers with third-party contracts.
“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.
RADAR will be led by Mahmood Sher-Jan, CEO and inventor of RADAR. Sher-Jan will also join its board of directors, along with Padrick, Rick Miller and Allen Alley. The company is headquartered in Portland, Oregon.
“We’re empowering customers to take control of their privacy and security incidents, incidental or malicious,” Sher-Jan said. “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.”
Twitter: @JessieFDavis
Email the writer: jessica.davis@himssmedia.com
