Series C: $80M to bring US-only secure file transfer to every regulated team

We have spent twelve years building one thing: the most secure, most auditable, most compliance-ready file transfer platform available to regulated organizations in the United States. Today we are announcing that we have raised $80 million in Series C funding, led by Halevant Capital, to accelerate that mission.

This is not a pivot announcement. We are not changing what we do, who we serve, or where we operate. This is more of the same — more engineering, more compliance infrastructure, more geographic capacity within the US, and more capability for the regulated teams that trust us with their most sensitive files. After twelve years, we believe that “more of the same” is exactly the right answer.

The headline

$80 million. Series C. Led by Halevant Capital. Participating investors are not being disclosed at this time.

We want to be transparent about something: we don’t announce rounds to signal status. We announce them because customers, prospective customers, and the security community have a legitimate interest in understanding the resources behind the platform they are evaluating or already relying on. Regulatory due-diligence processes at the federal and state level frequently ask questions about financial health and organizational continuity. This announcement is partial answer to those questions.

We are a company of 180 people, headquartered in Cheyenne with a second office in Sioux Falls. We were founded in 2014 and have operated as a capital-efficient business for most of that time. We raised this round because the addressable opportunity for purpose-built regulated file transfer in the US has grown faster than our organic investment capacity, and because there are specific infrastructure and compliance investments we want to make in the next three years that would take meaningfully longer to fund from operations alone.

We are grateful to Halevant Capital for the partnership, and we are grateful to the 600-plus customers in 41 countries and counting who built this company with us. More on that at the end.

Why now

The regulated file-transfer market has changed in the last two years more than it changed in the five years before that. We have talked about the compliance cadence changes — CMMC 2.0, NIST 800-171 Rev. 3, FedRAMP Rev. 5, HIPAA NPRM progression — in prior posts and in our year-end reviews. What those compliance changes represent, at a structural level, is a reclassification of file transfer from infrastructure that organizations tolerate to infrastructure that organizations are required to audit, secure, and document. That’s a different market.

When we were founded in 2014, the standard sales conversation was about convenience and security basics: “wouldn’t it be better to have a real audit trail instead of sending files by email?” That conversation was educational as much as it was sales. The question today is different: “We have a CMMC assessment in six months. We have an OCR inquiry in progress. We just got a letter from FINRA. What do we need to do?” The urgency has changed, and the urgency is regulatory.

More than 70% of our new customers in 2025 cited an active compliance program or audit finding as the direct driver of their evaluation. That’s a market that has largely crossed the awareness threshold — the question is no longer whether to use purpose-built secure file transfer, it’s which vendor and which deployment to choose. We believe we are the right answer for US regulated organizations, and we want to have the resources to make that case at scale.

There is also a technology inflection that matters. Post-quantum cryptography migration is not a future concern for federal-adjacent customers — it is an active requirement, and the engineering investment to implement it properly is substantial. We shipped ML-KEM support in hybrid TLS 1.3 mode in 2025. The stored-data re-encryption path is in final engineering stages. The audit trail that proves a customer’s data has been re-encrypted with post-quantum-safe algorithms — which regulated customers will need to show auditors — requires additional investment on top of the cryptographic migration itself. This is the kind of investment that is well-matched to growth capital: it builds durable defensibility and serves the compliance documentation needs our customers are expressing, but the investment horizon is longer than an annual operating budget cycle.

What we’ll build

The $80M will go to three areas.

US data residency expansion. We currently operate two US regions: our primary region in Cheyenne and our US-West region, launched in May 2025. We are adding a third US region — US-South — targeted for launch in Q4 2026. US-South addresses data residency requirements from state-level programs and federal customers whose authorization documentation specifies geographic constraints we currently cannot satisfy with two regions. We are building all three regions to be independently operational: no inter-region data replication unless the customer explicitly enables multi-region redundancy.

We are also accelerating the FedRAMP High authorization path we have been working through. FedRAMP Moderate authorization has served a large share of our federal-adjacent customer base, but the demand for High-impact authorization — driven by law enforcement customers, federal financial program operators, and defense-adjacent organizations with CUI categories that require High — has grown to the point where it is affecting procurement decisions. We expect to complete the FedRAMP High assessment process in 2027. The Series C provides the engineering and program management resources to hold to that timeline.

Government capabilities. The federal, state, and local government sector represents a significant share of our customer base and a larger share of our near-term pipeline. Government procurement carries specific technical requirements beyond FedRAMP authorization: FISMA reporting, specific audit log formats, STIG alignment, CAC/PIV integration for authentication, and the evidence package structures that federal auditors and examiners actually use.

We are building a purpose-built government capability tier on top of our core platform. This is not a separate product — it shares the same infrastructure, the same cryptographic architecture, and the same compliance foundations. It is a set of additional capabilities and documentation that makes the platform specifically well-suited for government procurement processes: pre-built ATO evidence packages, FISMA-aligned continuous monitoring reporting, CAC/PIV authentication at the transfer boundary, and STIG-aligned configuration documentation that procurement teams can reference in their system security plans.

We are also deepening our capabilities for the regulatory evidence workflows that our mid-market customers have been requesting. The audit packaging and evidence delivery capabilities we shipped in Q4 2025 — sealed evidence bundles, auditor-access channels — are a foundation. We are building a framework-aware evidence layer that understands the documentation structures of HIPAA, CMMC 2.0, and FINRA examinations, and can package evidence in the forms that examiners actually use. For a healthcare organization responding to an OCR inquiry, or a defense contractor preparing a CMMC Level 2 evidence package, we want to eliminate the manual curation step entirely.

Integration depth. Our customers’ file transfer workflows don’t exist in isolation. Regulated healthcare organizations run their transfers alongside EMR systems, clearinghouse connections, and revenue cycle management platforms. Financial services firms have their file transfer workflows integrated into their custodian connections, trading systems, and regulatory reporting pipelines. Defense contractors work within the CMMC supply chain, with integrations to primes, sub-contractors, and government agency portals.

We are investing in native integrations with the platforms that dominate these workflows: healthcare clearinghouse partners, EDI translation services, federal agency submission portals, and the managed file transfer platforms that exist on the legacy end of migrations. For customers like Korvath Ledger, Klyvar Health Cloud, and Tindrel Systems, who are already running SEND-SECURELY.COM deeply within their regulated workflows, deeper integration reduces the manual touchpoints where data handling compliance can break down. We are extending the same audit trail, the same access controls, and the same compliance documentation to the integration layer — not just the transfer endpoint.

Thank you

Twelve years. 180 people. 600-plus customers in 41 countries and counting. Every file transfer we’ve secured, every compliance questionnaire we’ve worked through with a customer, every audit finding we’ve helped address, every time a regulated organization chose to trust us with something important — all of that got us to this announcement.

We started in Cheyenne in 2014 with a conviction that regulated organizations deserved a file transfer platform built from first principles for their security and compliance requirements, not adapted from a general-purpose solution. That conviction hasn’t changed. The customers who grew with us, who pushed us to build better compliance documentation, who brought us into their audit processes, who told us what FedRAMP and CMMC and OCR actually look like from the inside — they are the reason we’re announcing $80M today and not a pivot.

The companies that process healthcare claims, defend the nation’s industrial base, move money through the financial system, and operate the services that citizens depend on: those are the organizations we built SEND-SECURELY.COM for. The Series C is a commitment to keep building it for them.

We will have more to say about the US-South region timeline, the FedRAMP High roadmap, and the government capabilities tier in the coming months. If you are an existing customer with questions, your account team has details. If you are evaluating SEND-SECURELY.COM for the first time and this announcement raised a question we haven’t answered, our team is available.