BitSight has recently made a major impact in the cybersecurity industry by raising $250M in funding from Moody’s and acquiring cyber risk startup VisibleRisk. These two major events took the industry by storm and showed that BitSight was serious about shaping the future of cybersecurity.
In this article, we will discuss the implications of these two events and how they could impact the cybersecurity industry.
Overview of BitSight
BitSight Technologies is a cybersecurity company that provides digital risk management technology services, risk scoring, and data analytics. The company was founded in 2011 by Eyal Eigel and Stephen A. Boyer and has made significant strides in the cybersecurity industry, raising over $1 billion in venture capital funding. Most recently, BitSight raised $250M from Moody’s Investor Services – one of the largest deals of its kind to date – and acquired VisibleRisk, a Brooklyn based cybersecurity startup offering an enterprise security risk platform.
BitSight’s mission is to provide organizations with an actionable understanding of their digital security posture by constantly monitoring cyberthreats internally and externally for businesses worldwide. BitSight’s comprehensive platform provides customers insight into cyber threats from connected networks to third-party vendors, improving enterprise security and providing secure information sharing capabilities throughout ecosystems.
The company provides a wide range of services from its “BITInfo” security ratings service – which measures data privacy performance using qualitative metrics like risk management strategy, compliance initiatives, auditing resources, customer notifications – to “BitEngage” which enables enterprises to securely share sensitive IOI (Indication of Interest) documents without compromising confidentiality agreements or contractual obligations amongst trading partners and customers.
Additionally, BitSight offers real-time alerting capabilities for access control violations when working with regulated information like HL7 or customer data.. Finally “Bitsight Cortex” uses machine learning algorithms to detect advanced persistent threats (APTs), malware activity, malicious IP addresses & domains, and privileged user behavior on systems & applications protecting enterprises against internal & external threat actors alike. These tools combined make it easy for organizations to quickly heal exposures faster while increasing their overall cyber resiliency.
BitSight’s Impact on Cybersecurity
BitSight has significantly impacted the cybersecurity industry after raising $250M from Moody’s and acquiring VisibleRisk, a cyber risk startup. This move will help BitSight expand its offerings and increase its presence in the market.
In this article, we will discuss how BitSight’s recent investments impact the cybersecurity industry.
BitSight raises $250M from Moody’s and acquires cyber risk startup VisibleRisk
BitSight announced it had secured $250 million in funding from Moody’s and is making its largest acquisition with the purchase of technology and cyber risk startup VisibleRisk. This increase in funding and ability to acquire small cybersecurity startups marks a large milestone for the company and could help spearhead further developments in cybersecurity qualifications.
BitSight’s security ratings help organizations track, understand, and improve their security posture as companies strive for optimal cyber hygiene. Using big data analytics, machine learning, and vast amounts of external data sources BitSight provides reliable security performance indicators. In addition to its ratings platform, it also offers services like breach insights, threat intelligence feeds, custom products for niche industries, supply chain assurance services—including shadow IT discovery—and ratings integration capabilities with leading SIEMs (security information event management systems).
With the new funds from Moody’s and VisibleRisk acquisition BitSight has become one of the few larger players in this emerging industry that address Internet security risks quantitatively on a global scale within organizations. This will be an intriguing development to follow as changes can reshape the landscape of cybersecurity qualifications.
Acquisition of VisibleRisk
In October 2020, BitSight announced the acquisition of VisibleRisk, a cyber risk startup founded in 2016. The acquisition strengthened BitSight’s capabilities as a cyber risk management company and opened doors for further expansion in the cybersecurity industry.
VisibleRisk offered network security risk assessment and other services enabling enterprise customers to accurately measure, manage, and remediate cyber risks. Through acquiring VisibleRisk, BitSight expanded its platform and services by integrating VisibleRisk’s capabilities into its portfolio.
As part of this acquisition, BitSight secured $250 million in new funding from investors including Moody’s Corporation. The additional funding provides short- and long-term capital to scale serving new customers, power organic growth initiatives, build new product capabilities and expand operations into greater international markets.
Integrating VisibleRisk’s capabilities into BitSight’s offerings marks a significant milestone for the cybersecurity industry that will enable enterprises of all sizes to proactively manage digital risks posed by today’s modern world. With the acquisition completed and additional support from Moody’s Corporation, BitSight will remain an important player in the cybersecurity sector for years.
BitSight’s mission to improve the security industry
Founded in 2011, BitSight’s mission has been to provide better cyber risk management, security performance visibility and a platform to facilitate benchmarking. By harnessing the power of data science, machine learning, and FaaS (Fear-as-a-Service), BitSight offers solutions for organizations large and small that detect threats quickly, provide insights needed to more effectively manage security performance, and produce tangible returns on security investments.
Last October 2018, BitSight raised $250 million in Series F financing led by Moody’s Corporation. This investment allowed the company to accelerate its growth and expand its product offerings. In March 2020 Bitsight also acquired Visible Risk, a enterprise cyber risk rating solutions leader.
This acquisition has further positioned BitSight as one of the most aggressive leaders in the global cybersecurity industry with an ambitious vision of revolutionizing cybersecurity risk management through continuous monitoring technology. By leveraging their advanced algorithms combined with powerful data sets they are changing the way companies prioritize their cybersecurity risks and make key decisions that can help reduce their overall financial exposure from cyber risks. Through this vision for greater transparency in the industry and more effectively managing corporate resources for cyber risk defense, it is clear that BitSight is leading a charge towards alleviating some of the challenges associated with securing today’s digital infrastructure — whether it resides on premises or beyond.
Benefits of BitSight
BitSight recently raised $250M from Moody’s and acquired cyber risk startup VisibleRisk, which has greatly impacted the cybersecurity industry. This strategic move by the company has opened up many opportunities for organizations to better protect themselves from cyber risks.
This article will look at the various benefits that BitSight provides in cybersecurity.
Increased visibility of cyber risk
The recent acquisition of VisibleRisk by security ratings company BitSight has many in the cybersecurity industry taking notice. BitSight has already established itself as one of the industry’s leading security ratings services, providing detailed insights into the current state of a customer’s cyber risk posture and actionable intelligence to improve it. With the addition of VisibleRisk’s comprehensive cyber risk data, BitSight will gain deeper visibility into current and historical trends and more advanced analysis capabilities.
By combining VisibleRisk’s analytical capabilities with their own, BitSight is poised to provide unparalleled insight into customer cyber risks. Their service allows customers to understand their cybersecurity posture relative to their peers or competitors. Enterprises can now see how changes in technology or process affect their digital risk profile over time and use this information to inform decisions on managing digital risk exposures. This can help identify weak spots that potentially need strengthening and help generate answers on potential investments or controls needed to reduce overall cybersecurity risks.
Additionally, their industry-leading security ratings platform allows customers to APLenty gauge progress against other companies in similar sectors or even within larger industries such as energy, energy transportation, retail and financial services. This advanced analysis enables organization leaders to access more granular visibility that was not available before, enabling them to identify specific areas for improvement by identifying patterns within industries or large-scale sectors at an individual level rather than at an aggregate level previously available from other vendors the space. With increased transparency provided by improved analysis of real-time and historical cyber risks across virtually any sector, organizations can arm themselves with better data-driven insights to ensure they effectively manage cyber threats against them both now and for years into the future.
Improved threat intelligence
BitSight is a cybersecurity ratings company that provides threat intelligence capabilities to businesses and organizations. Founded in 2011, the company has seen significant growth in recent years as it raises $250M from Moody’s and acquires cyber risk startup VisibleRisk. By leveraging data analytics and machine learning, BitSight helps businesses understand the risks they face from resilient cyber threats and provides tools tailored to their needs.
Using its proprietary algorithms, BitSight analyzes large datasets of malicious events and hazards across networks to identify emerging issues and threats. This information helps organizations stay one step ahead of adversaries by providing comprehensive insights into the nature and severity of current threats. Additionally, as part of its offerings, BitSight monitors external attack surfaces to detect malicious activity early on, giving organizations time to neutralize potential risks before they become an issue. This added layer of protection improves confidence in digital risk posture and reduces costs related to cybersecurity incidents.
BitSight’s threat intelligence services also save organization’s valuable time and resources otherwise spent monitoring for security problems or manually collecting the necessary data for incident response plans. The insights provided by BitSight empower organizations to respond quickly when facing malicious actors or attacks, allowing security teams to remain agile even when facing unpredictable cyber threats. At the same time, proactive detection capabilities help reduce incident response times overall—saving resources in both money/personnel and risk posture/exposure all at once—while always being prepared for future breaches that may come their way!
Automation of security processes
Businesses and organizations are increasingly looking to automation to improve their security posture. By leveraging BitSight’s technology, organizations can automate mundane and time-consuming tasks like subscription and vulnerability management, as well as maintenance of audit logs and whitelisting. Automating these processes reduces manual errors while ensuring the timely discovery of threats and vulnerabilities across the cybersecurity landscape.
Moreover, BitSight’s automated security operations centers (SOCs) help businesses protect against cyber threats and boost their ability to quickly detect and respond to incidents. This also reduces dependency on expensive dedicated resources for security assessment, resulting in business cost savings.
At an enterprise level, BitSight also helps organizations assess third-party risk by allowing customers to monitor suppliers’ performance in responding to identified vulnerabilities or threat risk activity. The visibility provided enables companies to quickly address these concerns before they become a larger problem or a breach occurs. This is especially important with the continuously changing security landscape where it is difficult for enterprises to stay ahead of attackers who employ advanced tactics in launching attack campaigns against targets.
Conclusion
BitSight’s recent investments and acquisitions endorse the company’s leadership in cyber security. Not only have they added new services, they have also gained the trust of large investors like Moody’s. This marks a milestone in the history of cyber security, as it signals more confidence in the industry.
This article will review the implications of BitSight’s recent actions and how it could influence the industry’s future.
Summary of BitSight’s impact on the cybersecurity industry
The success of cybersecurity firm BitSight Technologies has been on the rise for several years, particularly after it raised $250 million from Moody’s and acquired cyber risk startup VisibleRisk. This investment and acquisition show how vital BitSight’s offerings are to the cybersecurity industry.
BitSight offers organizations a view into their third-party suppliers’ security practices. Their Security Ratings Platform uses proprietary algorithms to analyze hundreds of publicly available information sources to generate Security Ratings and insights that companies use to understand their cybersecurity risks, prioritize their security investments, and make data-driven decisions that mitigate cyber risk. With its comprehensive third-party risk management capabilities and robust analytics platform, BitSight has become an important part of many security strategies.
In addition to streamlining third-party assessments and helping businesses gain better visibility into cyber threats posed by suppliers, the firm has also worked with the Department of Homeland Security (DHS) Science & Technology (S&T) division on two research projects, cognitive measurement technologies for better quantifying cybersecurity threats from key vendors; as well as a more holistic approach to threat detection that includes both supervised machine learning on large datasets and unsupervised analysis for uncovering less common threats.
By investing in BitSight’s offerings, Moody’s ensures their customers have access to the latest technology in security assessment services. Likewise, VisibleRisk is expected to bolster BitSign’s cybersecurity ratings platform with additional compliance assessment capabilities, allowing businesses to better detect malicious actors who remain hidden within lengthy supply chains or complex vendor relationships. These strategic investments demonstrate how valuable BitSign’s services continue to be in light of today’s rapidly shifting cyber threat landscape – ultimately benefitting organizations that leverage its products across industries worldwide.