5C Data Center Achieves SOC 2 Type 2 with Mindsec

The Mindsec team recently helped 5C Data Center (formerly known as Hypertec Cloud) obtain their SOC 2 Type 2 certification and secure a $835 million USD funding round, by relying only on our smart compliance dashboard, automated evidence collection, and expert guidance.

THE PROBLEM

5C, a leading provider of AI cloud technology solutions, had been wanting to achieve SOC 2 Type 2 compliance after completing their SOC 2 Type I audit successfully years back. However, the complexity of the planning process for Type 2 led them to continuously postpone their compliance efforts.

Their gap analysis alone, which they did on their own, had taken them more than 4 months and consumed plenty of resources (time, money, and effort from their team). As time passed, their need for SOC 2 became more pressing, as it was blocking deals, potential customers, and other market opportunities for them who required this certification.

It was then that they reached out to us and asked for our help in solving this problem. ​For a lean technology company like 5C, the missing piece of the puzzle was finding a trusted partner that could help them navigate SOC 2 compliance efficiently.

“We were missing valuable customer and business opportunities simply because we were lacking SOC 2.” 

 Mike Gero | VP Operations

THE PROCESS: SOC 2 Type 2 From Scratch

5C and Mindsec’s goal was to complete the entire certification process within 3 months.

The first step towards this was automating the gap analysis and creating a remediation plan together with our experts, who provided guidance and ensured accuracy throughout the audit preparation.

5C found Mindsec’s approach to compliance unique, highly supportive, and beneficial, as they were always prompted with daily actionable items; were never left in the dark by our experts; and could feel things actually moving forward everyday.

Within 90 days, 5C fulfilled their goal of attaining SOC 2 Type 2 compliance, unlocking potential customer opportunities that would have otherwise been ruled out due to lacking the SOC 2 certification. 

​“The value of the platform lies in providing a structured workspace to define and quantify the roadmap for us. When I want to measure my teams progress, I can simply open the dashboard and see exactly where we stand.”

Mike Gero | VP Operations

HIGHLIGHTS

5C saved 70% of their compliance budget

The combination of an automation platform and dedicated expert radically reduced costs, timelines, and workload for 5C’s team.

SOC 2 Type 2 certification was achieved on the first try within 3 months

5C leveraged Mindsec’s automated solution, guidance, and auditor network to seamlessly complete the entire process on the platform and pass their certification audit within 90 days, as initially desired.

5C was able to secure additional funding from investors thanks to SOC 2 Type 2

After achieving their SOC 2 Type 2 certification, 5C was able to raise $835 million USD in funding from Brookfield and Deutsche Bank.

​ “Mindsec’s experts coordinated all the activities, ensured every step of the process was correct, and led us through the process. And that was the key to blaze through this at a reasonably fast pace.”

Mike Gero | VP Operations

CONCLUSION

Before deciding to team up with Mindsec, 5C also evaluated the possibility of working with CPAs, consultants, and legal teams for their SOC 2 compliance. But in the end, found their approach lacking.

“Their limitation is that they’re not really providing any of the guidance and support along the way in such a burdensome process like this. They’re really just the auditor that evaluates your test score, so to speak. With Mindsec, it was like having a tutor that made sure we’d be ready for the final exam.“

Mike Gero | VP Operations​

​With Mindsec’s assistance, 5C successfully achieved SOC 2 Type 2 compliance in 3 months, positioning themselves for accelerated growth by unlocking new customer and investment opportunities like the ones stated above. A year later, the Mindsec platform still maintains their automated SOC 2 compliance for them, granting 5C the ultimate benefit of achieving continuous control of their security compliance.  

“The entire process with Mindsec felt like walking into a final exam we already knew the answers to. Mindsec truly was the missing piece of the puzzle for us and our SOC 2 Type 2 compliance.”

Mike Gero | VP Operations