Denver, Co. -- November 16, 2022 -- CyberGRX, provider of the world’s first and largest global risk exchange, today announced it ranked 220 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 28th year. CyberGRX continues to experience significant year-over-year growth, demonstrated by its 695% revenue growth over a three year period.
CyberGRX standardizes third-party cyber risk management using data analytics and automation, real-world attack scenarios, and real-time threat intelligence, making it possible to achieve insights that enable the prioritization of risks across an entire vendor ecosystem. In addition, third party organizations can effectively manage their cyber risk reputation by proactively utilizing the CyberGRX Exchange to complete and share a single assessment with multiple partners. The Exchange provides customers the ability to access cybersecurity risk data on almost any company in the world. This year, the company achieved 196% growth in new customer recurring revenue with over 40% of revenue deriving from multi-year contracts.
“We are honored to be ranked on the Deloitte Technology Fast 500 list. Our team works tremendously hard to innovate and spearhead the necessary transformations across the risk management industry as evidenced by our customer and revenue growth,” said Fred Kneip, CEO of CyberGRX. “The pace that organizations are onboarding new third parties has typically far exceeded the pace that organizations are revamping their risk management processes. The impact felt by businesses across the globe from supply chain attacks and vendor breaches has emphasized the need to innovate and modernize cyber risk management. CyberGRX was built as a data-driven approach to third-party cyber risk management--truly a novel and modern approach for its time--and continues to innovate and change how organizations think about and manage third-party risk. We’ve hit amazing growth milestones and I am excited to lead the charge.”
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”
In addition to CyberGRX’s recognition on the Deloitte Technology Fast 500, the company was also named in the Top 10 Baby Black Unicorn Awards for 2022, signifying the company’s impact on the third-party risk management industry. The Baby Black Unicorn Award showcases companies with potential to reach a $1 billion dollar market value in the cybersecurity marketplace. This year alone, CyberGRX was also named winner in ‘Threat Intelligence Innovation’ by the 2022 CyberSecurity Breakthrough Awards, ranked number 938 overall in the annual Inc. 500 list and named the 2022 North America Market Leader in the cyber risk management industry by Frost & Sullivan.
For more information about CyberGRX, please visit www.cybergrx.com.
About the 2022 Deloitte Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.