Company’s Exchange Recognized for its Innovative Approach to Reducing Third-Party Cyber Risk
DENVER–(BUSINESS WIRE)–CyberGRX, provider of the world’s first and largest global cyber risk exchange, today announced the company has been named a winner in both the 2020 Cyber Defense Magazine InfoSec Awards and the 16th Annual Info Security PG’s Global Excellence Awards®. Being recognized as Publisher’s Choice Third Party Risk Management (TPRM) by Cyber Defense Magazine, and awarded gold in Vendor Risk Management by Info Security PG, highlights CyberGRX’s solution as a proven and innovative method for managing third-party cyber risk.
“We are pleased to be recognized as an industry leader by Cyber Defense Magazine and Info Security Products Guide,” says Fred Kneip, CEO of CyberGRX. “Behind this success is our drive to stay customer focused and continuously innovate our approach to TPCRM, disrupting the current market inertia towards third-party risk and in the process making outdated solutions obsolete.”
As digital transformation and connected ecosystems continue to expand, effective TPCRM is increasingly becoming a top priority for CISOs and Risk Managers. The CyberGRX Exchange supports users throughout their TPCRM journey, giving them the tools they need, like AIR Insights™, dynamic and validated assessments and insight into residual risk, to turn data into actionable intelligence and augment teams to achieve more with existing resources. The Exchange ushers companies toward a more secure future by demonstrating proven reductions in risk and by enabling communities of risk professionals to work together toward a common goal of decreasing third-party risk. With more than 65,000 companies on the Exchange, the platform continues to become smarter, allowing organizations to have an accurate view of risk within their own ecosystems.
These two awards follow critical milestones in CyberGRX’s growth. In December, CyberGRX announced a $40 million Series D funding round led by ICONIQ Capital which brought their total equity financing to $100 million. A month later, the company was recognized in the Gartner Magic Quadrant for IT Vendor Risk Management Tools for its ability to execute and completeness of vision as well as being named in Gartner’s 2019 Critical Capabilities Report for IT Vendor Risk Management Tools, where they scored the highest point total of all companies for its assessment in the VRM Solution and Vendor Risk Assessment Data use case. To keep up to date on the company’s latest announcements please visit https://www.cybergrx.com.