VisibleRisk Raises $25 million for Enterprise Cyber Risk Evaluation
VisibleRisk is a joint venture between Moody’s and Team8.
Israeli startup Visible Risk helps companies asses their risks for cyber-attacks and more. They completed a $25 million investment in VisibleRisk. VisibleRisk also announced the launch of a Cyber Rating product, building on the collaboration between Moody’s and Team8 to develop a global standard for assessing corporate cyber risk.
Founded in 2019, VisibleRisk is a joint venture between Moody’s Corporation, a global leader in risk assessment, and Team8, a cybersecurity-focused company creation platform, that is focused on creating a standard benchmark for communicating cyber risk to Boards of Directors and senior business executives in order to improve the global dialog about this important issue.
There is a reason why cybersecurity startups are so valuable today. Hackers are not only motivated by money or politics. They often just like being malicious. So even small companies need to be on their guard and be sure to properly protect their systems.
Congrats to the team on their $25M Series A funding round.👏https://t.co/WgdUwoPrrE
— Team8 (@team8group) May 12, 2021
But this is something different. VisibleRisk helps its clients understand how and why they are vulnerable and how their risks compare to those of other companies.
VisibleRisk’s Cyber Ratings are based on cyber-risk quantification, which allows companies to benchmark their cyber risks against those of their peers, and to better understand and manage the impact of cyber threats to their businesses. Combining economic, cybersecurity, and industry data, the Cyber Rating incorporates a holistic, validated set of internal and external factors affecting a firm’s security posture and quantifies those risks in economic terms.
“Translating cyber risk for business executives who are not domain experts is crucial to successfully managing risk,” said Derek Vadala, Chief Executive Officer of VisibleRisk. “By quantifying a company’s risk exposure in economic terms, VisibleRisk is providing decision-makers with an actionable, real-time benchmark to best manage cyber risk and improve resilience.”
VisibleRisk’s Cyber Ratings are enhanced by real-time monitoring, custom reporting, and expert analysis, enabling informed decision-making. VisibleRisk offers full transparency into the factors that determine a Cyber Rating, including the methodology and data sources.
“At a time of intense digital transformation, accelerating hyper-connectivity and hybrid working environments, confidence in digital infrastructure is of paramount importance to business leaders,” said Nadav Zafrir, Managing Partner at Team8. “Cyber risk and business risk are inextricably linked, and it is only by striking a balance between security, productivity, privacy and distributed working that enterprises can surmount these challenges while driving innovation. VisibleRisk enables executive leaders to get that right, and we’re excited about the business’ immense potential.”