November 25, 2024 at 08:32AM
Visio Trust, a third-party risk management provider, has raised $7 million, bringing its total funding to $24 million. The San Francisco-based startup, founded in 2020, utilizes AI to deliver security intelligence for enterprise customers. The new funds will enhance its artifact-based platform and support AI governance for risk reduction.
**Meeting Takeaways:**
1. **Funding Announcement**: Visio Trust has successfully raised $7 million in its latest funding round, bringing its total funding to $24 million.
2. **Investment Sources**: The funding was contributed by several prominent investors, including Allstate Strategic Ventures, Bain Capital Ventures, Cisco Investments, EnvisionX Capital, Lytical Ventures, Scale Asia Ventures, Sierra Ventures, and Work-Bench.
3. **Company Background**: Established in 2020 and based in San Francisco, Visio Trust specializes in third-party risk management through its AI-driven platform.
4. **Platform Features**:
– The platform enhances security intelligence by collecting and analyzing vendor-related data.
– It offers real-time assessments to help security teams make informed procurement decisions.
– Key features include aggregation and analysis of data breach advisories, Software Bill of Materials (SBOMs), and SEC filings.
5. **Client Base**: Notable organizations such as Bain Capital, Instacart, Notion, and Upwork currently utilize Visio Trust’s platform to manage and reduce third-party risks.
6. **Future Plans**: The new funding will support the scaling of Visio Trust’s artifact-based platform, focusing on developing a comprehensive AI governance platform aimed at risk reduction.
7. **CEO Statement**: Paul Valente, CEO of Visio Trust, stated that the funding will help accelerate platform innovation and create a robust security intelligence ecosystem aligned with modern business workflows.