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Highlights

 

Welcome to another episode of Category Visionaries, the show that explores the future of tech with innovative B2B founders. In today’s episode, we’re speaking with Pukar Hamal, CEO and Founder of SecurityPal, a security reviews platform that has raised $21 million in funding.

  • Pukar’s experience as a co-founder of HR tech company Teamable, where he first encountered the challenge of security reviews slowing down or blocking commercial transactions.
  • The problem of security reviews becoming more complex and creating “topography” in the last mile of a deal, requiring companies to provide extensive information about their security posture, internal controls, and certifications.
  • The emergence of customer assurance as a critical step in securing revenue and increasing lifetime value, encompassing not just security but also legal, privacy, financial, and team-related aspects.
  • The shift from binary trust to continuous assurance in the B2B world, driven by the erosion of trust on the internet and the need for companies to provide consistent and ongoing assurance to their customers.
  • SecurityPal’s long-term strategy of defining and establishing the customer assurance category, backed by Fortune 500 brands, investors, and a clear understanding of the market need.
  • The importance of building a motivated, thoughtful, and empathetic team, with a global presence and a commitment to solving the problem over the long term.
  • Pukar’s personal mission to bring the benefits of Silicon Valley to his home country of Nepal, potentially branding Kathmandu as “Silicon Peaks” and using technology to drive lasting change.
  • The key lesson from fundraising: focusing relentlessly on customers, as they are the greatest point of leverage for attracting investors and talent.
  • The three-year vision of establishing SecurityPal as the household name for the customer assurance category, with a robust suite of products, a substantial customer base across multiple regions, and continued rapid growth.

Actionable
Takeaways

Identify and Name Emerging Pain Points:

Pukar and his team recognized the growing complexity and friction in security reviews, and coined the term "customer assurance" to encapsulate the broader set of requirements and the need for continuous, rather than binary, trust-building. By putting a name to an emerging pain point, they were able to resonate with their target market and establish themselves as thought leaders.

Build a Motivated and Mission-Driven Team:

SecurityPal's success is fueled by a team that is deeply motivated by the problem they're solving and committed to the long-term vision. By cultivating a sense of purpose and mission, founders can attract and retain top talent and create a sustainable competitive advantage.

Leverage Your Personal Story and Values:

Pukar's journey as an immigrant from Nepal and his desire to bring the benefits of Silicon Valley to his home country serve as a powerful source of motivation and differentiation for SecurityPal. Founders should explore how their personal experiences and values can inform their company's culture and narrative.

Prioritize Customers Above All Else:

Pukar emphasizes that focusing on customers is the key to unlocking success in fundraising and talent acquisition. By consistently delivering value and maintaining strong relationships with customers, founders can create a virtuous cycle of growth and attraction.

Think in Decades, Not Just Years:

While most founders and investors think in terms of 5-7 year horizons, Pukar encourages a 30-40 year mindset, drawing inspiration from enduring companies like SAP and Oracle. By setting their sights on the long term and avoiding the temptation of quick wins, founders can build truly transformative and resilient businesses.

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