March 20, 2024 at 06:51AM
CyberSaint, a cyber risk management company, raised $21 million in Series A funding, bringing its total to $29 million. The investment was led by Riverside Acceleration Capita (RAC) with participation from other investors. With the new funding, CyberSaint plans to expand its AI-powered CyberStrong platform designed to automate compliance, quantify cyber risk, and offer free cyber risk analysis. CEO Jerry Layden emphasized the importance of optimizing cyber risk posture in the face of increasing cyber attacks.
Key Takeaways:
1. CyberSaint has raised $21 million in Series A funding, bringing the total raised to $29 million. The investment was led by Riverside Acceleration Capital (RAC), with participation from Sage Hill Investors, Audeo Capital, and BlueIO.
2. The funding will be used to accelerate market expansion and further develop CyberSaint’s AI-powered CyberStrong platform.
3. The CyberStrong platform aims to automate compliance, translate cyber risk into financial terms, and provide assessment, control monitoring, cyber risk quantification, remediation, and reporting capabilities for enterprises.
4. CyberSaint also offers free cyber risk analysis that helps organizations identify their top risks and related NIST 800-53 controls based on their industry, size, and revenue.
5. CEO Jerry Layden emphasized the importance of optimizing cyber risk posture in today’s era of frequent and sophisticated cyber attacks and expressed the company’s goal to elevate cyber risk management to a pivotal role in enhancing organizational performance.
6. Additional related funding news in the cybersecurity and software reliability sectors includes investments in Ballistic Ventures, Eye Security, Steadybit, and Defense Unicorns.
Let me know if there’s anything else you need or if there are more details you want to add to the takeaways.