Cyber risk startup VisibleRisk receives USD 25 mln in funding

Thursday 13 May 2021 13:55 CET | News

US-based VisibleRisk, a joint venture between Moody’s Investors Service and VC firm Team8, has announced that it has raised USD 25 million for its cyber risk evaluation platform.

The proceeds, which come as VisibleRisk launches a new risk assessment service, Cyber Rating, will be used to expand the company’s workforce into 2021.

VisibleRisk claims its cyber ratings are based on cyber risk quantification, which allows companies to benchmark their risks against those of peers. Combining economic, cybersecurity, and industry data, VisibleRisk aims to arrive at a holistic, validated set of factors affecting a firm’s security posture, and to quantify those risks in economic terms.

The company offers real-time monitoring, custom reporting, and analysis, as well as transparency into the variables that determine a cyber rating. The platform takes into account multiple factors, including an organisation’s susceptibility to attack given their business profile, the overall attractiveness to adversaries, and the strength of their security controls and mitigation efforts.

Beyond this, VisibleRisk looks at a business’ ability to reduce and absorb the financial impact of a cyber attack using mitigation activities. Insurance and cash reserves also affect cyber risk scores, as well as investments in activities like third-party oversight, security culture, and crisis response.

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Keywords: funding, cybersecurity, risk management, cybercrime
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: United States
This article is part of category

Securing Transactions