Cyber risk management startup VisibleRisk secures $25 million

Moody’s Corporation and Team8, a global venture group, announced the completion of a $25 million investment in VisibleRisk , a joint venture established by the two companies in 2019 to evaluate enterprise cyber risk. Additionally, VisibleRisk 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.

“Moody’s investment in VisibleRisk aligns with our global integrated risk assessment strategy and focus on cyber security as an important element of understanding and managing enterprise risk. We are pleased to deepen our relationship with VisibleRisk as they launch their innovative Cyber Rating to help customers better understand and confidently manage their cyber risks.” – David Platt, Chief Strategy Officer at Moody’s.

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 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.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.” – Derek Vadala, Chief Executive Officer of VisibleRisk.

“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. 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.” – Nadav Zafrir, Managing Partner at Team8.