CyberVadis, a Paris, France-based provider of a Third Party Cyber Risk Management platform, raised €7M in Series A funding.
The round was led by Zobito AB. Uli Beckman, Zobito AB partner, 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.
The company intends to use the funds to hire talent and expand its team in particular to service new clients beyond traditional markets, to accelerate innovation and continue to enhance its platform.
Led by CEO Edouard Lacarrière, CyberVadis provides enterprises with a scalable solution for third-party cybersecurity risk assessments. It is built on a methodology that maps international compliance standards, including NIST, ISO 27001, GDPR, and many other privacy and security laws. CyberVadis provides 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 on implementing better practices. For a fixed annual fee, the company performs a number of evidence-based assessments via the platform.
Today, Cybervadis has assessed cybersecurity and data privacy maturity of thousands of third parties located in 96 countries using its evidence-based approach.
FinSMEs
23/05/2023