November 21, 2024 at 05:14PM
VISO TRUST announced $7M in funding, totaling $24M, to enhance its AI-powered third-party risk management platform. This investment, from existing and new investors, will accelerate innovation, enabling faster vendor assessments and improved security intelligence, helping organizations manage cyber risks efficiently in a complex digital landscape.
### Meeting Takeaways from VISO TRUST Press Release
**Funding Announcement**
– VISO TRUST closed a new funding round, securing **$7 million**, bringing total funding to **$24 million**.
– Investors include existing backers Bain Capital Ventures, Work-Bench, Sierra Ventures, Lytical Ventures, and new participants like Allstate Strategic Ventures, Cisco Investments, EnvisionX Capital, and Scale Asia Ventures.
**Mission and Goals**
– The funding aims to enhance VISO TRUST’s mission to revolutionize **third-party risk management (TPRM)** through an adaptive AI-driven platform.
– Focus on improving **security intelligence** and seamless TPRM for enterprises globally.
**Platform Features and Benefits**
– VISO TRUST’s AI platform provides real-time, evidence-based assessments by collecting and analyzing vendor data.
– Benefits include **reducing vendor assessment and onboarding time by up to 90%**, transforming the time spent on TPRM from hours to merely minutes per vendor.
– Rapid assessments are completed in **5-7 days** with a **98% vendor adoption rate**.
**Leadership Statements**
– CEO Paul Valente emphasized the importance of the new funding in advancing the platform’s innovation and creating a robust ecosystem for TPRM.
– Janey Hoe from Cisco Investments noted how VISO TRUST reshapes governance, risk, and compliance, enhancing agility in managing cyber risks.
**Future Direction**
– VISO TRUST is set to further develop its **artifact-based platform** and focus on next-generation monitoring and response to emergent cyber risks.
– A commitment to integrating **security intelligence** to foster resilience in a complex digital landscape.
**Company Overview**
– VISO TRUST specializes in AI-driven TPRM, providing continuous monitoring, risk remediation, and workflow integrations.
– Target sectors include financial services, healthcare, and technology.
**Contact Information**
– For further inquiries, reach out to **[email protected]** or visit **www.visotrust.com**.