Security Scorecard 180m Series

The cybersecurity risk monitoring and rating platform Security Scorecard revealed it had raised $180 million in a series E round of funding.

Security Scorecard, a company founded in 2013, gives organisations, including Nokia, AXA, Liberty Mutual, and Cadence Bank, the ability to assess and continuously monitor their security, including flaws in the third-party vendors they utilize. According to firm CEO and co-founder Alex Yampolskiy, “cybersecurity ratings do the same as you can receive a credit score and use credit scores to determine financial dependability.”

Sam Kassoumeh, COO and co-founder of Security Scorecard, explained that the system uses seven years’ worth of historical data to grade security workers on a scale of A to F, offering a quick way to “understand their cyber posture.” We have demonstrated that businesses with low scores are 7.7 times more likely to have a breach than those with high scores.

What Is A Security Scorecard?

To translate an organization’s security efficacy into a quantitative score, security rating organizations use data pieces acquired naturally or purchased from public and private sources.

Security Scorecard offers insight into how our grading approach corresponds with industry standards and provides openness. Recognize the guiding concepts, methodology, and procedure of our cybersecurity ratings.

Security Scorecard is the second-ranked product in the top IT Vendor Risk Management tools. BitSight is the comparison to which Security Scorecard remains most frequently made. Additionally, 65% of users looking into Security Scorecards on PeerSpot are from the primary enterprise market. Which is a significant segment. Professionals from a computer software company are the leading industry looking into this solution, making up 17% of all views.

Security Scorecard Funding

18 March 2021, New York, NY: Existing investors Evolution Equity Partners, Accomplice, Riverwood Capital, Intel Capital, NGP Capital, AXA Venture Partners, and GV, as well as financial advisors T. Rowe Price Associates, Inc. Kayne Anderson Rudnick, and Fitch Ventures, took part in Security Scorecard’s $180 million Series E preferred stock financing round, which was announced today by the industry pioneer in security ratings. Security Scorecard has already raised more than $290 million in funding before this round.

Numerous businesses, including 7 of the top 10 pharmaceutical firms. 4 of the leading payment processors, and more than 10 of the top insurance companies in the world, use Security Scorecard. The industry-leading platform for security ratings. In addition, expanding use cases in vendor risk management, self-monitoring, board reporting, cybersecurity insurance underwriting, and M&A due diligence have coincided with the company’s rapid expansion.

Security Scorecard has exhibited strong global traction for its security evaluations since its last investment round in June 2019. The funding will support the high demand for Security Scorecard’s security ratings platform. Which has grown in the wake of several significant supply chain attacks. The corresponding increase in regulatory attention on cyber oversight of suppliers. In addition, it will speed up Security Scorecard’s rapid global expansion and growth.

CEO and co-founder of Security Scorecard

CEO and co-founder of Security Scorecard stated that enterprises must have cybersecurity ratings to make critical business decisions in light of the rising frequency of breaches. The amount and quality of this financing attest to the faith that both our current and potential new investors have in Security Scorecard. Additionally, budgets have significantly changed due to cybersecurity ratings. We have now exceeded the breaking point where the breadth of our data and network effects push widespread market adoption.

The new round of funding will hasten Security Scorecard’s corporate expansion through planned investments in new product lines, international development. A growing partner ecosystem, and enhanced functionality to creatively assess and mitigate cybersecurity risk.

The $180 million in funding will hasten investments in a suite of risk assessment and mitigation tools built on top of Security Scorecard’s platform and in deeper threat intelligence. A group of existing and new investors, including Evolution Equity Partners and Silver Lake Waterman, participated in the investment round.

According to Co-founder and CEO Aleksandr Yampolskiy. Security Scorecard recently introduced a marketplace of applications and services on top of its security ratings platform. The firm also plans to increase its board-level reporting capabilities and insights into corporate structures. In addition, the security Scorecard will be able to benchmark results for corporate divisions and business units thanks to the hierarchical platform.

Cyber Security Scorecard

Security Scorecard 180m Series – Scores for cyber security are becoming more common and are playing. A more significant role in how firms operate. However, these scores remain used for various purposes, including vendor management, cyber insurance. And aiding a company in understanding and enhancing its cyber security environment.

This non-intrusive, artificial intelligence-based platform allows users to assess their business’s cyber risk posture against peers in the sector. Comprehend and quantify that risk without human interaction, and keep an eye out for emerging threats throughout the relationship. The program remains specifically made to help businesses monitor. Their exposure to cyber risk and evaluate their cyber risk on-demand and in real-time.

CyberSecOp is a thorough next-generation cybersecurity rating and risk management tool that evaluates third-party risks for companies worldwide.

Conclusion

Security Scorecard 180m Series – Since 2014, Security Scorecard has been giving suppliers a letter grade based on various factors to help businesses understand the security risk they pose. As a result, the company revealed a $180 million Series E today.

Along with previous investors Evolution Equity Partners. Accomplice, Riverwood Capital, Intel Capital, NGP Capital, AXA Venture Partners, GV (Google Ventures), and Boldstart Ventures. This round also features new investors Silver Lake Waterman, T. Rowe Price, Kayne Anderson Rudnick, and Fitch Venture. According to the company, it has now raised $290 million.