RiskLens, the leading provider of cyber risk quantification solutions, today announced it has closed a $5M Series A round of equity investment led by Osage Venture Partners with additional proceeds from Paladin Capital Group, Dell Technologies Capital and Kick-Start.
"Corporate budgets for cyber-risk continue to rise yet few understand how to quantify the trade-off of spend and risk mitigation. This is a new focus for the C-suite and for corporate boards of directors and RiskLens is truly the thought leader," said Nate Lentz Managing Partner at Osage Venture Partner. "The RiskLens team has built a great business with a strong team in a dynamic market. They could have easily sustained growth without additional capital. Osage is pleased to partner with RiskLens as they turbocharge their go-to-market efforts to expand their leadership position."
This Series A round comes on the heels of repeat awards as best risk analytics solution, high-profile Fortune 50 customer wins and a cash-flow positive 2016.
"We are experiencing unprecedented demand for our risk quantification solutions as risk and security professionals are challenged today to effectively communicate risk posture to C-suite executives and board directors, assess the ROI of their security investments and prioritize their organization's finite resources," said RiskLens CEO Nick Sanna. "We are very excited by the mix of new financial and strategic investors, that can help us accelerate our go-to-market efforts, grow our customer base and forge new partnerships to help scale our growth."
RiskLens' flagship Cyber Risk Quantification is a decision-support application that quantifies an organization's financial risk exposure to cybersecurity, IT and other operational events. RiskLens solutions help cyber risk professionals quantify and communicate about risk in financial terms, bridging communication gaps between IT, the board and the business.
According to Bob Gaston, VP at ADP: "RiskLens is an integral part of our Risk Management Program, where it is used to assess cybersecurity risk from a financial perspective. It helps our executives make informed, risk-based business decisions."
About Osage Venture Partners
Osage Venture Partners (OVP) invests in early stage, business-to-business (B2B) software companies on the East Coast from its offices just outside of Philadelphia, PA. With over $175 million under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the capital and support required to build high-growth, market-leading businesses. For more information, visit www.osagepartners.com.
RiskLens is the leading provider of cyber risk quantification software. RiskLens empowers large enterprises and government organizations to manage cyber risk from the business perspective by quantifying that risk in dollars and cents. Customers depend on RiskLens solutions to better understand and decipher their cyber risk exposure in financial terms, prioritize their risk mitigations, measure the ROI of their security investments, and optimize their cyber insurance coverage. RiskLens is the only cyber risk quantification software purpose-built on FAIR, the standard quantitative model for information security and operational risk. For more information visit the RiskLens website at www.risklens.com.