CyberVadis, provider of a Third Party Cyber Risk Management platform embedding the most reliable cybersecurity ratings, has raised €7 million in Series-A funding led by Zobito AB.
The fresh capital will be used to hire top talent and expand its team to service new clients beyond its traditional markets, as well as to accelerate innovation and continue to enhance its platform.
“This investment is a validation of the need for reliable evidence-based assessments, to scale Third Party Cyber Risk Management programs and truly secure organizations’ global supply chain,” said Edouard Lacarrière CyberVadis CEO.
As of today, Cybervadis has reliably assessed the cybersecurity and data privacy maturity of thousands of third parties located in 96 countries using its evidence-based approach.
“We are thrilled to be investing in CyberVadis, a company that is revolutionizing the way organizations approach third-party cybersecurity risk assessment,” said Uli Beckmann, Zobito AB partner. “Their platform is a game-changer, and we are excited to be a part of their journey.”
Uli Beckman will join the CyberVadis board of directors alongside EcoVadis’ co-founders and existing growth fund investors CVC Growth Partners (the growth-oriented technology investment arm of CVC Capital Partners) and Partech.
CyberVadis CEO, Edouard Lacarrière, added: “We are thrilled to have Zobito AB on board as an investor and partner. Their expertise in technology and their commitment to innovation make them the perfect fit for Cybervadis as we enter our next phase of growth.”
Founded in 2016, its intuitive and user-friendly platform is built on a methodology that maps to all major international compliance standards, including NIST, ISO 27001, GDPR, and many other privacy and security laws.
The company directly engages vendors from all over the world with assessments and validates results with an in-house team of security analysts.
CyberVadis provides companies with a standardized cybersecurity rating that they can share with others, along with a detailed improvement plan for increasing their score and the ability to collaborate with clients on implementing better practices.