NormShield, a McLean, Va.-based provider of on-demand cyber risk scorecards for enterprises, closed a $3.5m seed funding round.
The round was led by Glasswing Ventures Managing Partner Rick Grinnell, with participation from Data Point Capital Managing Partner Mike Majors. Both Grinnell and Majors have joined the NormShield Board of Directors.
The company will use the funds to scale its supply chain risk monitoring platform, including its Rapid Cyber Risk Scorecard service, and build out a sales, marketing and engineering team.
Led by Mohamoud Jibrell, chief executive officer and co-founder, NormShield enables enterprises to monitor their external cyber risk posture and perform non-intrusive cyber risk assessments of their suppliers, subsidiaries and target acquisitions. Using scorecards, including its 60-second Rapid Cyber Risk Scorecard, the system provides letter grades on various risk categories, along with data on how to mitigate each risk in priority order.
Customers include organizations in the financial services, manufacturing, retail, healthcare, and technology industry customers.