Team8's VisibleRisk raises $25 million series A
The Israeli startup leverages Moody’s expertise in risk measurement and Team8’s expertise in cybersecurity technologies to develop next-generation methods for assessing and mitigating enterprise cyber risk
VisibleRisk, which specializes in evaluating enterprise cyber risk, has announced the completion of a $25 million series A funding round led by Moody’s Corporation and Team8, who jointly established the company in 2019.
VisibleRisk leverages Moody’s expertise in risk measurement and Team8’s expertise in cybersecurity technologies to develop next-generation methods for assessing and mitigating enterprise cyber risk. Co-founded by Derek Vadala and Yigael Berger, the VisibleRisk cyber risk rating and real-time monitoring platform is the first of its kind, enabling organizations globally to continuously monitor and manage cyber risk as they would financial risk. The company, which has raised $30 million to date, employs 40 people, 30 of them in Israel.
VisibleRisk co-founders Derek Vadala (left) and Yigael Berger. Photo: Doron Letzter
VisibleRisk’s Cyber Ratings are based on cyber-risk quantification, which allows companies to benchmark their cyber risks against those of their peers, and to better understand and manage the impact of cyber threats to their businesses. Combining economic, cybersecurity, and industry data, the Cyber Rating incorporates a holistic, validated set of internal and external factors affecting a firm’s security posture and quantifies those risks in economic terms.
“Translating cyber risk for business executives who are not domain experts is paramount to successfully managing risk,” said Derek Vadala, Chief Executive Officer of VisibleRisk. “By quantifying a company’s risk exposure in economic terms, VisibleRisk is providing decision-makers with an actionable, real-time benchmark to best manage cyber risk and improve resilience.”
Nadav Zafrir, Managing Partner at Team8, added: “Cyber risk and business risk are inextricably linked, and it is only by striking a balance between security, productivity, privacy and distributed working that enterprises can surmount these challenges while driving innovation. VisibleRisk enables executive leaders to get that right, and we’re excited about the business’ immense potential.”