CyberSaint, A Cyber Risk Firm, Raises $21 Million To Expand and Enhance Its Platform

CyberSaint, A Cyber Risk Firm, Raises $21 Million To Expand and Enhance Its Platform

CyberSaint Inc., a startup providing cyber risk management services, revealed today that it has secured $21 million in fresh funding to expand its customer base, quicken its pace of market penetration, and carry on developing its CyberStrong platform.

CyberSaint, a 2016 startup, provides a platform that enables businesses to evaluate, quantify, address, and share their cyber risk posture. To improve an organization’s cyber risk posture, the platform automates assessments, financializes risks, and provides executive decision-makers with well-informed guidance.

The platform’s features enable customers to create and monitor remediation programs, automate control evaluations, measure risk posture financially, and continuously improve their cyber risk management program over time. Additionally, CyberSaint’s CyberStrong platform gives clients instant access to information about their cyber risk posture and delivers a scalable, data-driven solution to motivate action and have an impact on choices.

With over 10 million finds processed every day and over $33 trillion in cyber risk managed, CyberSaint has experienced rapid development. Expeditors International of Washington Inc., Marathon Petroleum Corp., Allstate Corp., Duke Energy Corp., and Tripadvisor Inc. are a few of the notable clients.

Additionally, the business provides a free service called CyberSaint Free Cyber Risk Analysis, which enables users to enter information about their industry, company size, and revenue to quickly identify the top industry risks and associated NIST 800-53 controls. According to the service, the world’s largest cyber loss dataset will provide the public with unrestricted access to customized insights.

The Series A round was led by Riverside Acceleration Capital LLC and included participation from Sage Hill Investors LLC, Audeo Capital LLC, and BlueIO Inc. According to Tracxn, CyberSaint has already raised $3 million in finance in 2018 and $6 million in debt financing in 2022.

“In an era where cyberattacks are becoming more frequent and sophisticated, the likelihood of breaches has escalated, leaving many organizations unsure of how to effectively reduce their risk,” Chief Executive Jerry Layden said in a statement. “It is imperative that optimizing cyber risk posture is elevated to a business-critical level.”

Layden went on to say that the company would be able to “expand swiftly and elevate cyber risk management to a pivotal role in enhancing organizational performance” as a result of the additional finance.