RiskLens, a provider of Cyber Risk Quantification (CRQ) and cyber risk management software solutions, recently secured $20.55 million in a Series B funding round led by Paladin Capital Group along with the participation from the existing investors Dell Technologies Capital, Osage Venture Partners, F-Prime Capital, and MassMutual Ventures. The startup stated the new investment will accelerate its Sales, Marketing, Engineering, Professional Services departments, and expand its market reach in the cybersecurity industry.
Founded in 2011, RiskLens provides cyber risk management software solutions that enable organizations to manage risk and measure it in monetary terms. The company claims its software is the most comprehensive suite to enable security and risk teams to quantify, manage, and report on cyber risks from the business perspective.
Commenting on the new investment Nick Sanna, Chief Executive Officer at RiskLens, stated, “RiskLens has forever changed the way large organizations assess, manage and report on cyber risk, by translating the impact of threats and vulnerabilities into the financial language of the business that everyone understands: dollars and cents. We’re giving Boards of Directors, CISOs and Cyber Risk teams what was once thought impossible – a decision-support platform and a system of record that allows them to make cost-effective decisions regarding the prioritization of security initiatives and the rightsizing of those investments.”
“As early believers in RiskLens since our participation in the Series A funding, we’ve seen first-hand the rapid shift of market momentum towards cyber risk quantification and the capabilities of its experienced management team in driving growth,” said Mourad Yesayan, Principal at Paladin Capital Group and RiskLens Board Member. “We believe that RiskLens is poised to become the de-facto standard in how enterprises around the globe assess, communicate and manage cyber risk. We’re delighted to be partnering with a syndicate of top investors to continue fueling the company’s success.”