Global AI startup SecurityPal, headquartered in Nepal, has emerged as a key player in helping major tech companies like OpenAI, Figma, and Airtable efficiently manage security compliance questionnaires for their enterprise sales processes.
The business need: Security questionnaires are a critical but time-consuming requirement for enterprise software sales, often involving hundreds of questions about data privacy, infrastructure security, and compliance measures.
- Companies like OpenAI typically dedicate multiple staff members to handle these questionnaires
- Sales engineers at companies like Grammarly previously spent significant time processing 10-12 questionnaires monthly
- Without completing these assessments, large enterprises cannot proceed with software purchases due to compliance risks
SecurityPal’s solution: The company combines AI technology with human expertise in Kathmandu to process security questionnaires rapidly and accurately.
- A team of 180 employees in Nepal works with proprietary software to complete questionnaires within 24 hours
- The process begins with a 4-6 week period to build a comprehensive Knowledge Library for each client
- The company has processed over two million security-related questions in four years
- Revenue has tripled in two years to over $10 million, with some clients paying seven-figure contracts
Company leadership and growth: Founded by Pukar Hamal, a Nepali-born U.S. citizen, SecurityPal has achieved significant growth since its 2020 launch.
- The company reached a $105 million valuation after raising $21 million in Series A funding led by Craft Ventures
- SecurityPal maintains offices in both Kathmandu and San Francisco, with 25 employees in the U.S.
- The company’s Nepal operation has become a model for tech development in the region, dubbed ‘Silicon Peaks’
Workforce development: SecurityPal has established a unique approach to building its workforce in Nepal.
- Employees receive competitive compensation, with analyst salaries ranging from $18,000 to $40,000
- The company provides comprehensive benefits including health insurance and vacation budgets
- Senior roles can earn $60,000 to $70,000, significantly above local market rates
- The company maintains high employee satisfaction with a net promoter score of 76
AI integration strategy: SecurityPal has adapted to the rise of generative AI by incorporating it strategically into its operations.
- The company uses AI tools to augment human analysts rather than replace them
- Competitors offering purely automated solutions have faced challenges with accuracy and reliability
- Major AI companies like OpenAI and Langchain choose SecurityPal over automated alternatives
- The hybrid approach allows for maintaining accuracy while increasing processing speed
Future outlook: SecurityPal’s impact extends beyond its immediate business model to broader regional development.
- Plans include expansion to Cambodia, the Philippines, and Vietnam
- The company is working with educational institutions to develop relevant security analyst curricula
- The success of SecurityPal’s model is inspiring other tech startups in Nepal
- Former employees are expected to launch their own ventures, potentially creating a startup ecosystem in Kathmandu
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