SecurityPal, a startup founded by Pukar Hamal, addresses a critical yet often overlooked aspect of business operations for high-growth tech companies: responding to security questionnaires. These extensive documents, often numbering hundreds of questions, are essential for closing deals with large corporations and government agencies. They probe a company’s data handling practices, security measures, and compliance with regulations, ensuring the vendor poses no undue risk. While crucial, the process of completing these questionnaires is time-consuming and resource-intensive, diverting valuable personnel from core business functions. Companies like OpenAI, Airtable, and Grammarly found themselves dedicating significant manpower to this task, recognizing it as a necessary evil in securing lucrative contracts. SecurityPal emerged as a solution, offering a faster, more efficient, and cost-effective method for managing this critical but tedious process.
SecurityPal’s approach leverages a combination of human expertise and AI-powered tools. A team of analysts based in Kathmandu, Nepal, meticulously builds a “Knowledge Library” for each client, documenting comprehensive answers to potential security questions. This upfront investment allows for rapid turnaround times, often within 24 hours, when questionnaires arrive. The company’s software facilitates collaboration and allows clients to easily review and verify answers. Further, SecurityPal’s AI “copilot” not only accelerates the process but also analyzes anonymized data from its client base to identify best practices and potential vulnerabilities, offering valuable insights for continuous improvement in security posture. This blend of human oversight and AI assistance allows SecurityPal to deliver accuracy and efficiency, mitigating the risk of errors or omissions that could jeopardize deals.
The choice of Kathmandu as SecurityPal’s operational hub is a strategic one. While leveraging a lower-cost workforce is a common practice in the tech industry, Hamal’s vision transcends mere cost arbitrage. He envisions Kathmandu’s “Silicon Peaks” becoming a thriving tech center, fostering local talent and creating sustainable opportunities. SecurityPal’s Nepal office employs over 180 full-time staff, enjoying benefits like health insurance and vacation time, and earning salaries significantly above local market rates. This commitment to fair compensation and employee well-being fosters a motivated and dedicated workforce. The company invests in training programs, cultivating a skilled pool of analysts, data scientists, and engineers. This approach differentiates SecurityPal from traditional outsourcing models, emphasizing long-term investment in human capital and contributing to the development of the local tech ecosystem.
Hamal’s personal journey adds another layer of depth to SecurityPal’s story. As a Nepali-born U.S. citizen, he experienced firsthand the challenges faced by immigrants seeking opportunities and stability. His experiences at Stanford University and within the tech startup scene exposed him to both the potential and the pain points of rapid growth. The genesis of SecurityPal stemmed from a personal encounter with the very problem it solves. While attempting to close a deal for his previous startup, Hamal faced a last-minute deluge of security questions, ultimately losing the deal due to the overwhelming task. This experience ignited a desire to create a solution that would prevent other companies from suffering a similar fate. Hamal’s commitment to Kathmandu transcends business strategy; it reflects a desire to contribute to his native country’s economic development and provide opportunities for its talented workforce.
The advent of generative AI, with tools like ChatGPT, initially posed a potential threat to SecurityPal’s business model. However, Hamal quickly recognized the opportunity to integrate these powerful technologies into his platform. Rather than being replaced by AI, SecurityPal’s human analysts now leverage AI tools to enhance their efficiency and accuracy. This hybrid approach distinguishes SecurityPal from competitors who rely solely on AI-driven solutions, which can be prone to inaccuracies and require extensive human validation. The company’s blend of human expertise and AI assistance provides a level of assurance that purely automated solutions struggle to match, particularly in the high-stakes domain of security compliance.
SecurityPal’s success is evident in its impressive growth, having answered over two million security questions and secured contracts with leading tech companies, including OpenAI itself. The company’s revenue has tripled in recent years, and it has attracted significant investment from prominent venture capital firms. This validation from the market underscores the growing demand for SecurityPal’s services. The company is not resting on its laurels; it continues to innovate, using AI to provide proactive insights and recommendations to clients, further enhancing the value proposition. Looking ahead, SecurityPal plans to expand its physical presence, establishing security centers in other Southeast Asian countries, while simultaneously investing in educational initiatives in Nepal to develop a future pipeline of skilled professionals. This combination of global expansion and local investment positions SecurityPal for continued growth and reinforces its commitment to creating a positive impact in the regions where it operates.
