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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