CyberSaint, a cyber risk management solutions firm, has announced a milestone in its growth trajectory, securing $21m in Series A funding.
The round was led by Riverside Acceleration Capital (RAC), with additional investments from Sage Hill Investors, Audeo Capital, and BlueIO. This financial infusion is set to catapult the company’s customer momentum, spearhead market expansion, and bolster the innovation of its flagship CyberStrong platform, distinguished by its patented Artificial Intelligence (AI) technology.
At the heart of CyberSaint’s operation is the CyberStrong platform, an AI-powered tool that empowers enterprises to optimize their cyber risk posture and enhance executive alignment. By automating compliance and translating cyber risk into financial metrics, CyberStrong is designed to simplify the complex landscape of cyber risk management. Its capacity to provide tailored insights based on the world’s largest cyber loss dataset has established CyberSaint as the standard for cyber risk management among Fortune 500 companies.
The company plans to leverage the new funding to accelerate its market expansion and continue its innovation streak within the CyberStrong platform. These strategic moves aim to meet the growing demand for sophisticated cyber risk management solutions, especially in an era marked by increasingly frequent and complex cyber threats.
CyberSaint’s growth is also underscored by its commitment to innovation, as evidenced by the recent launch of its Free Cyber Risk Analysis tool. This tool offers immediate access to customized risk assessments, demonstrating the company’s dedication to democratizing cyber risk insights.
Jerry Layden, CEO of CyberSaint, underscored the significance of this funding round, stating, “In an era where cyber attacks are becoming more frequent and sophisticated, the likelihood of breaches has escalated, leaving many organizations unsure of how to effectively reduce their risk. It is imperative that optimizing cyber risk posture is elevated to a business-critical level. Thanks to this latest funding, we’re positioned to expand swiftly and elevate cyber risk management to a pivotal role in enhancing organizational performance. This milestone wouldn’t be possible without the unwavering support from our customers, partners, and investors. My team and I are profoundly appreciative of the partnership we share, as it serves as our daily inspiration as we pioneer solutions in cyber risk management for enterprises worldwide.”
Jim Toth, Managing Partner at Riverside Acceleration Capital, also commented on CyberSaint’s impact in the cybersecurity space, “At a time when cybersecurity has never been more important, CyberSaint has emerged as a leader in enterprise cyber risk management. Their in-depth understanding of the enterprise market, ability to translate risks into financial terms, and roster of blue chip customers are a true testament to their market momentum.”
Since its inception in 2016, CyberSaint has demonstrated remarkable growth and industry impact. Over the past year, the company has been lauded for its innovative contributions to the cybersecurity industry, including recognition as the Leader for GRC in Snowflake’s State of Next-Generation Cybersecurity Applications Report and in Gartner’s Innovation Insight. Moreover, CyberSaint’s strategic partnership with IBM Cloud and the appointment of Matt Alderman as Chief Product Officer mark significant strides in its mission to optimize cyber risk management across enterprises.
Copyright © 2024 RegTech Analyst
Copyright © 2018 RegTech Analyst
