Highlights:

  • CyberSaint provides a platform enabling enterprises to evaluate, quantify, address, and communicate their cybersecurity risk position.
  • The company also offers the CyberSaint Free Cyber Risk Analysis, enabling users to input their industry, company size, and revenue to swiftly uncover their top industry risks and related NIST 800-53 controls.

The cyber risk management startup CyberSaint Inc. secured USD 21 million to expand its customer base, quicken its pace of market penetration, and carry on developing its CyberStrong platform.

Established in 2016, CyberSaint provides a platform enabling enterprises to evaluate, quantify, address, and communicate their cybersecurity risk position. This platform automates assessments, monetizes risks, and offers informed recommendations at the executive level, empowering organizations to optimize their cybersecurity risk stance.

The platform’s capabilities encompass automating control assessments, assessing risk posture in financial terms, creating and monitoring remediation plans, and evolving cyber risk management programs over time. CyberSaint’s CyberStrong platform promptly provides insights into clients’ cybersecurity stance and delivers a scalable, data-driven solution to drive action and impact decision-making.

CyberSaint has experienced robust expansion, overseeing more than USD 33 trillion in cyber risk and handling over 10 million findings on a daily basis. Noteworthy clients of CyberSaint encompass Marathon Petroleum Corp., Expeditors International of Washington Inc.,  Allstate Corp., Duke Energy Corp., and Tripadvisor Inc.

Additionally, the company provides the CyberSaint Free Cyber Risk Analysis, a complimentary service enabling individuals to input their industry, company size, and revenue to reveal their primary industry risks promptly and associated NIST 800-53 controls. This service is designed to grant the public unrestricted access to customized insights derived from the world’s largest cyber loss dataset.

Riverside Acceleration Capital LLC spearheaded the Series A funding round, joined by Sage Hill Investors LLC, Audeo Capital LLC, and BlueIO Inc. in participation. Before this recent funding round, CyberSaint had obtained USD 3 million in funding in 2018 and USD 6 million in debt financing in 2022, according to Tracxn.

Jerry Layden, Chief Executive, said in a statement, “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. It is imperative that optimizing cyber risk posture is elevated to a business-critical level.”

Layden further stated that the fresh funding would enable the company to “expand swiftly and elevate cyber risk management to a pivotal role in enhancing organizational performance.”