DENVER–(BUSINESS WIRE)–CyberGRX, provider of the world’s first and largest global cyber risk exchange, continues to gain market momentum in Q1 2022, accelerating company growth and setting the stage for further expansion and innovation. Since the start of the year, CyberGRX has seen significant year-over-year growth, resulting in 196% growth in recurring revenue from new customers — with more than 30% of revenue now coming from multi-year contracts — and 100% growth in new customers.
“We have dedicated our energy and focus to advancing the industry through innovation and modernization to meet urgent needs. Our status as a trusted partner is demonstrated by our extensive customer growth, which includes some of the world’s largest companies and third parties,” said Fred Kneip, CEO of CyberGRX. “We have made significant progress in changing how organizations approach third-party cyber risk management and we stand ready to further accelerate this throughout 2022.”
Over the past 12 months, CyberGRX has rolled out several major product updates – including the industry’s first predictive risk intelligence capability, Predictive Risk Profile – which enables organizations to anticipate how individual third parties within their vendor ecosystem would respond to a detailed security assessment questionnaire , thereby providing transparency across their entire third-party ecosystem without requiring reviews from each vendor. CyberGRX has also introduced an Attack Scenario Analytics capability that maps the entire CyberGRX Exchange platform to 150+ MITER kill chains, providing additional context on risk findings to improve overall defenses against customer ecosystems. CyberGRX is the only third-party cyber risk company with this capability. The addition of predictive risk intelligence and attack scenario analysis capabilities, along with the company’s 10,000+ verified assessments, make CyberGRX Exchange the largest available database of corporate cyber risk profiles, with the ability to provide cybersecurity reputation data for almost any company in the world.
The company remains focused on its vision of empowering any organization to build trust in the security of their ecosystems by:
Make more informed risk remediation decisions to improve the overall defense capability of enterprise ecosystems.
Mapping of completed assessment results to industry frameworks such as GDPR, CCPA, NIST 800/CSF, HIPAA, etc.
Identifying third parties that may have been affected by a breach and determining which third parties are most likely to be at risk of a ransomware attack.
In another attempt to assist security and risk management practitioners, CyberGRX also published Third-Party Cyber Risk Management For Dummies. Produced in partnership with the For Dummies® brand, the book discusses a new data-driven approach to TPCRM and uses real-life examples to show the challenges associated with traditional TPCRM methods and how readers can make their TPCRM program more successful.
In addition to naming Fred Kneip as the winner of the EY Entrepreneur of The Year® 2021 Mountain Desert Region Award, CyberGRX has received significant recognition over the past 12 months:
97th place (top 2%). Inc Magazine annual list of the Inc. 5000 fastest growing private companies
Recognized on Built In’s Best Places to Work lists, ranked #33 on Colorado Best Places to Work and #16 on Best Colorado Midsize Companies to Work For lists
Named a Gold Winner in the Vendor Risk Management and Security Assessment Management categories by the 2022 Cybersecurity Global Excellence (Globee) Awards program
To learn more about CyberGRX’s latest product releases and all company news, please visit: https://www.cybergrx.com/. You can also download the definitive guide to TPCRM, “Third-Party Cyber Risk Management For Dummies” here.
CyberGRX standardizes third-party cyber risk management, empowering you to uncover insights, prioritize risk, and make smarter decisions across your vendor ecosystem. Powered by sophisticated data analytics and automation, real-world attack scenarios, and real-time threat intelligence, CyberGRX provides customers with comprehensive and ongoing analytics across their vendor portfolio. Organizations can now effectively manage their cyber risk reputation by proactively leveraging the CyberGRX Exchange to conduct and share a single assessment with multiple upstream partners. More information: https://www.cybergrx.com/