CyberVadis, a Paris, France-based company that provides third-party cyber risk management solutions, raised €7 million in a Series A funding round led by Swedish VC firm Zobito AB.
The investment will fuel CyberVadis' growth and enable the company to hire top talent, accelerate innovation, and enhance its platform. With this funding, CyberVadis aims to transform the approach organizations take toward third-party cybersecurity risk assessment.
“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.” CyberVadis CEO, Edouard Lacarrière.
By investing in cutting-edge technologies and methodologies, CyberVadis aims to stay at the forefront of industry advancements, and by providing an intuitive and user-friendly solution, CyberVadis enables organizations to streamline their third-party cybersecurity risk assessments and effectively manage their vendor ecosystem.
The additional funding will be utilized to enhance the platform with advanced features and functionalities. The platform will align with major international compliance standards, including NIST, ISO 27001, and GDPR.
Company: CyberVadis SAS
Raised: €7.0M
Round: Series A
Funding Month: May 2023
Lead Investors: Zobito AB
Additional Investors:
Company Website: https://cybervadis.com/
Software Category: Third-Party Cyber Risk Management Solutions
About the Company: CyberVadis is a scalable solution for managing the full third-party cybersecurity risk assessment process. The CyberVadis platform is based on a methodology that maps to all major international compliance standards and combines the speed of automation with the accuracy and effectiveness of a team of experts. This includes engaging vendors directly with assessments, validating results with an in-house team of security analysts, and issuing companies 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 and vendors on implementing better practices.
Source: https://techfundingnews.com/french-startup-cybervadis-drives-innovation-in-third-party-cyber-risk-management-with-e7m-funding-led-by-zobito/