SecurityScorecard, the most accurate benchmark of security risk across the entire business ecosystem announced it achieved record growth in 2015—more than 430 percent. The company is receiving tremendous demand for its ability to identify cybersecurity vulnerabilities and is on pace to far exceed that growth rate for 2016.
The SecurityScorecard proprietary SaaS platform helps enterprises gain operational command of the security posture for themselves and across all their partners and vendors. The platform offers a breadth and depth of critical data points not available from any other service provider and in a completely self-service and automated tool.
Only SecurityScorecard discovers and computes security ratings based on end-of-life products, patching cadence, hacker chatter, dorking, social engineering, cubit score™, on top of malware, and other data points to provide the most accurate risk assessment on the market.
The platform also provides continuous, non-intrusive monitoring for any organization including third parties and fourth parties. A broad range of risk categories are observed such as application security, IP reputation, patching cadence, network security and passwords exposed.
"SecurityScorecard provides the most accurate and comprehensive security ratings for organizations and their third and fourth parties," said Aleksandr Yampolskiy, co-Founder & CEO of SecurityScorecard. "Our mission is to empower companies with accurate security ratings and to enable them to collaborate with one another. We have made great progress this year in seeing SecurityScorecard ratings used by the world's leading organizations to monitor themselves and report to Board of Directors, and to monitor risk of their suppliers and partners. We are seeing great demand in the market for our critical threat indicators not available in alternative solutions including product end of life, patching cadence, and hacker chatter."
Key SecurityScorecard 2015 milestones include:
- A $12.5 million Series A round from Sequoia Capital earlier last year, with Michael Goguen, managing partner of Sequoia joining its Board of Directors.
- More than 110 enterprise customers—over 28 of which are Fortune 500 companies, including Zurich Insurance Company; which partnered with SecurityScorecard to monitor and evaluate third party risk of its vendors. "As we looked to further fortify our defensive layers against threats, it was clear that nobody else had the capabilities of SecurityScorecard's benchmarking and security intelligence service," said Troy Mattern, Zurich's Deputy Head of Cyber Security.
- An increase in employee count by more than 25x with extended sales coverage nationally and expanded operations to Europe.
- Market penetration into the financial and legal services sectors; with more than one-third of its new customers within these vertical industries.
- Expansion into cyber insurance—giving brokers the power to reduce the financial, reputational, and legal impacts of breaches and other security events.
- Release of Instant Security Scorecard, a free summary risk assessment for organizations where you can immediately benchmark your company against others.
- Being first to market to launch Automatic Vendor Discovery module to automatically discover risks associated with fourth party and fifth party risks. "A company's exposure to cyber risk extends to the network vendors they work with," said Brad Gow, Senior Vice President at Endurance. "SecurityScorecard's Automatic Vendor Detection augments their traditional offering by identifying critical third and fourth party network dependencies, giving us additional clarity into the quality of their IT management as well as identifying potential hotspots over our entire cyber portfolio."
- Launch of the Collaborative Security module, which allows customers to engage directly with their third parties via the SecurityScorecard platform.
- SecurityScorecard Labs released numerous studies including "2015 Retail & eCommerce Security Research Report," "Banking Malware Research Report 2015" and "2015 Higher Education Security Report."
- The development of its channel program, which includes more than 30 partners worldwide with the top resellers and technology partners in the world including Optic, GuidePoint, Brinqa, and Venminder.
- The formation of a 12-member executive board comprised of top Chief Information Security Officers from around the world, including Edna Conway, Chief Security Officer, Global Value Chain at Cisco.
- Named a top 16 winner from SINET, the Security Innovation Network. SecurityScorecard was one of the youngest companies on the winning roster.
- Robust API layer with integration into common SIEM and GRC platforms such as Archer.
- Collaboration with ESG on "Vendor and Supplier Security." As analyst Jon Otlsik wrote about SecurityScorecard, "To be truly actionable, enterprises need a multi-dimensional assessment approach across all key security risk factors like SecurityScorecard provides rather than a single-dimensional security rating."
- Named one of the hottest companies to work for in NYC by Symmetry50.
- Expansion into additional verticals including benchmarking and reporting to Board of Directors, M&A & Private Equity, and Legal.
- Demonstrated that a D or F grade in SecurityScorecard IP Reputation category is 3x more likely to result in a breach of a company.
- Expanded the breadth and depth of the executive team with the addition of Paul Poh, CTO (board member of Shared Assessments) and Sean Goldstein, Vice President Marketing (formerly at CA Technologies). Promotion of Bennett Morrison to Vice President of Product.
- Continued innovation in SecurityScorecard R&D Labs. The company sinkholed more than 40 new malware families, including Tinba, Ranybus, Bedep and Alureon. SecurityScorecard also further developed pathing cadence to include end-of-life products used by companies, expanded hacker chatter monitoring capabilities, and established a P2P file sharing user behavior risk factor.
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