Top 10: Risk Management software

2023. Compliance and risk management startup Certa raises $35M



Certa, a platform specializing in compliance, governance, and risk management for enterprises, has successfully secured $35 million in a Series B funding round. Addressing the costly consequences of noncompliance, which can lead to an average revenue loss of $4 million per non-compliance event, Certa employs an orchestration engine. This engine facilitates the involvement of stakeholders in risk-exposed business processes, bringing them onto the platform. Certa's solution involves providing a platform where third parties, including vendors, partners, and clients, can collaborate by sharing data and internalizing a company's compliance rules and risk policies. The platform delivers risk scoring reports, templates, and modules, along with third-party validations and questionnaires to assess risk and stay abreast of regulations. Additionally, Certa offers integrations enabling users to generate comprehensive risk management reports for their larger organizations.


2023. Hyperproof, a compliance and risk management startup, raises $40M



Hyperproof, a SaaS company specializing in risk and compliance management, has secured $40 million in funding. The corporate sector is increasingly intrigued by compliance offered as a service, mainly due to the emergence of new regulations, particularly those concerning data privacy. Hyperproof offers a comprehensive solution that combines a compliance data repository with a collaborative work management system. The company's objective is to streamline the execution of "non-strategic" compliance responsibilities related to approximately 85 compliance and governance frameworks. These frameworks include FedRAMP, the U.S. federal government's comprehensive compliance initiative for cloud services and products. Alongside adaptable controls for each framework, Hyperproof provides a range of software modules tailored to various risk and compliance management tasks. These include a risk management module, enabling centralized risk monitoring, and a compliance operations module, empowering team members to automate evidence collection (such as documenting compliance processes and outcomes) and identifying issues that require mitigation.

2023. Blackbird lands $20M to expand its risk management tools



Blackbird AI, a startup that specializes in developing AI-powered software for risk intelligence, has secured $20 million in funding through its Series B round. The company focuses on assisting organizations in detecting cyber "information" attacks aimed at them, such as large-scale deepfake campaigns, while also providing IT teams with the necessary tools to combat influence operations. By utilizing Blackbird's technology, users have the ability to explore intricate details such as the sharing patterns of specific individuals or the emerging storylines within ongoing discussions. The platform offers visual representations in the form of heat maps, illustrating how narratives, including harmful ones like hate speech, propagate across social media. It identifies bot-like accounts and assesses the impact of influential figures, such as high-profile individuals or influencers, on the narrative flow. Blackbird asserts its capacity to identify key influencers within specific groups, mapping the progression of a narrative over time.


2022. Eureka raises $8M for its data cloud security platform



Tel Aviv-based startup Eureka has recently secured an $8 million investment. Eureka specializes in providing enterprise-level security risk management tools for diverse data stores. The core concept behind Eureka is to empower businesses by offering comprehensive insights into their connected cloud data stores. By doing so, it assists in managing access policies, identifying configuration issues, and detecting policy violations. While organizations may have well-defined data protection strategies, implementing and enforcing these policies across various data stores, each with its unique settings and capabilities, can present significant challenges.


2021. Living Security raises $14M for predictive human risk management



Living Security collaborates with more than 100 large enterprises, offering workforce training to enhance data protection and strengthen organizational security. The company's primary offering, the Cyber Escape Room, provides interactive online training sessions, combining immersive experiences with educational content. Living Security's latest objective is to leverage behavioral data and analytics to assess and manage human risk effectively. By analyzing this data, the company aims to provide "predictive interventions" to employees, enabling proactive risk mitigation. With the introduction of its "Unify" human risk management platform, Living Security strives to deliver a scalable solution to its clients. The company intends to utilize its recent capital infusion to expand its geographical presence and further enhance its direct and channel sales efforts.


2020. Palo Alto Networks to buy digital forensics consulting firm for $265M



Security software provider Palo Alto Networks has recently completed the acquisition of The Crypsis Group, a reputable consulting firm specializing in incident response, risk management, and digital forensics. The acquisition comes with a significant price tag of $265 million. While Palo Alto Networks offers a range of tools aimed at preventing attacks, it is crucial to acknowledge that no set of tools can guarantee absolute security. The ongoing battle between companies like Palo Alto and attackers revolves around a cat-and-mouse game. Crypsis Group plays a vital role in post-breach analysis, helping identify the root causes of breaches and fortifying vulnerable areas to prevent future unauthorized access through specific weak points in the system's architecture.