RiskLens, a Reston, VA-based provider of cyber risk quantification (CRQ) and cyber risk management software, raised $20.55m in Series B funding.
The round was led by Paladin Capital Group, with participation from Dell Technologies Capital, Osage Venture Partners, F-Prime Capital, and MassMutual Ventures.
The company intends to use the funds to accelerate expansion across Sales, Marketing, Engineering and Professional Services departments and enable it to retain and grow its market leading position in the emerging cyber risk quantification space.
Led by Nick Sanna, Chief Executive Officer, RiskLens provides quantitative cyber risk management software that enables large enterprises and government organizations to manage cyber risk from the business perspective by quantifying that risk in monetary terms.
Through the company’s system, clients can understand and communicate their cyber risk exposure in financial terms, prioritize their risk mitigations, measure the ROI of their security investments, and meet regulatory demands calling for the quantification of cyber risk.
RiskLens’ software is built on FAIR, the standard quantification model for information security and operational risk, now used by more than 4,500 professionals in security and risk, and represented within 8 out of the Fortune 10, 75% of the Fortune 50 and nearly 30% of the Fortune 1,000 organizations.
The company recently announced integrations with leading software providers in the Governance, Risk and Compliance space – RSA, ServiceNow and RSAM – as well as professional services partnerships with PwC Australia, Wipro and TUV Rheinland Opensky.