CyberVadis has raised 7 million euros (about $7.5 million) to grow its Third Party Cyber Risk Management platform.
“Breaking news! We have raised €7M in Series A funding to scale our #thirdpartyriskmanagement program and truly secure organizations’ global supply chains,” CyberVadis said in a Tuesday (May 23) tweet.
CyberVadis provides these risk assessments for enterprises and, for an annual fee, performs an unlimited number of assessments via a platform that maps to all major compliance standards, according to a May 9 press release issued by Zobito, the co-investment growth fund that led the funding round.
The firm has assessed the cybersecurity and data privacy of thousands of third parties in 96 countries, the release said.
“We expect this investment to enable us to hire top talents and expand our teams in particular to service new clients beyond our traditional markets, to accelerate innovation and continue to enhance our platform and deliver even greater value to our customers,” CyberVadis CEO Edouard Lacarrière said in the release.
Lacarrière added that the investment is a validation of the need for “reliable evidence-based…
