Cyber risk management company CyberSaint has raised US $21 million in Series A funding led by Riverside Acceleration Capital (RAC), with participation from Sage Hill Investors, Audeo Capital and BlueIO.
The new investment, which increases CyberSaint's total funding to US $30 million, enables the business to accelerate market expansion and enhance its CyberStrong platform powered by artificial intelligence (AI) technology.
CyberStrong aims to help enterprises to master their cyber risk posture and drive executive alignment by automating compliance and translating cyber risk into financial terms.
In addition to the platform, CyberSaint also provides free cyber risk analysis, which allows organisations to discover their top risks and related NIST 800-53 controls based on their industry, size and revenue.
Jerry Layden, CEO of CyberSaint, states: “In an era where cyber attacks are becoming more frequent and sophisticated, the likelihood of breaches has escalated, leaving many organisations unsure of how to reduce their risk. It is imperative that optimising cyber risk posture is elevated to a business-critical level.
“Thanks to this latest funding, we are positioned to expand swiftly and elevate cyber risk management to a pivotal role in enhancing organisational performance.”
Jim Toth, managing partner at RAC, says: “At a time when cybersecurity has never been more important, CyberSaint has emerged as a leader in enterprise cyber risk management.
“Their in-depth understanding of the enterprise market, ability to translate risks into financial terms, and roster of blue chip customers are a true testament to their market momentum.”
Previously, CyberSaint announced a partnership with IBM Cloud to release new remediation features to optimise resource allocation and customers’ decision-making across cyber programmes.
