Highlights:

  • Safe Security’s Cyber Risk Cloud of Clouds platform, which analyzes over 3 billion signals daily, will incorporate the decision science methodology of FAIR.
  • Through the acquisition, Safe Security will integrate the Factor Analysis of Information Risk (FAIR) framework, known as the RiskLens Cyber Risk Quantification Standard, with its AI-powered automated Cyber Risk Management platform, SAFE.

Safe Securities Inc., an AI-driven cybersecurity risk assessment firm, recently acquired the startup RiskLens Inc. for an undisclosed amount to improve its risk management capabilities.

RiskLens, established in 2011, provides cyber risk management software enabling risk and chief information security officers to assess cyber risk from a business standpoint by quantifying it in financial terms.

By allowing users to comprehend risks in financial terms, the company’s platform enables digital risk management, facilitating better decision-making throughout the C-suite and board. The platform determines the priority of cybersecurity projects based on the risk reduction they offer, measuring their value and optimizing spending. Moreover, it improves programs’ standards, uniformity, and expandability for managing cyber risks.

Through the acquisition, Safe Security will integrate the Factor Analysis of Information Risk (FAIR) framework, known as the RiskLens Cyber Risk Quantification Standard, with its AI-powered automated Cyber Risk Management platform, SAFE.

Safe Security’s Cyber Risk Cloud of Clouds platform, which analyzes over 3 billion signals daily, will incorporate the decision science methodology of FAIR. As per the companies, once the integration is executed, it will fortify the defensibility of Safe Security’s AI-powered recommendations for predicting and preventing breaches.

In a statement recently, Michael Montoya, Chief Information Security Officer at data center firm Equinix Inc. stated, “Many boards are struggling on how to quantify their cyber risk, especially in the wake of the upcoming SEC regulations. With this acquisition, Safe Security is shaping the risk quantification and management market with a standards-based approach coupled with automation.”

As a result of the acquisition, Nick Sanna, who previously served as the CEO of RiskLens, will take the role of President at Safe Security. In addition, he will continue to provide leadership for the FAIR Institute.

Before the acquisition, RiskLens had gathered funding amounting to USD 26.8 million, per data from Crunchbase. The funding includes a 2019 round of USD 20 million, with investors such as Dell Technologies Capital, F-Prime Capital LLC, MassMutual Ventures LLC, Osage Venture Partners LLC, and Paladin Capital Group LLC, among others.

Safe Security has also secured venture capital funding, accumulating USD 99.2 million. Notably, they raised USD 33 million in 2021, with investors such as Eight Roads Ventures, Fidelity Ventures, MS and amp;AD Ventures Inc., Telstra Ventures Pty. Ltd., and Western Technology Investment.