CAMBRIDGE, Mass., July 14, 2016 — BitSight Technologies, the standard in Security Ratings, concluded the first half of 2016 with exceptional revenue growth, customer momentum and product innovation. As the creator and leader of the security ratings market, BitSight’s continued success represents a need for an outside-in, data-driven approach to effective risk management and cyber insurance underwriting.
“Our corporate momentum is accelerating as demonstrated by the tremendous surge of customers adopting our service. We have seen a 64 percent increase in customers in just six months, and we now have 410 paying customers, including 56 enterprises in the Fortune 500,” said Shaun McConnon, CEO of BitSight Technologies. “Our customers are voting with their wallets, tripling BitSight’s impressive 2015 first half sales. With 80 percent of our June 2015 fundraising still in the bank we are evaluating our options for rapid expansion, technology investments and acquisitions. As the standard in security ratings for vendor risk management, we intend to increase and solidify that position over the next 18 months with additional funding and investment.”
To learn more about BitSight and its solutions, visit: http://www.bitsighttech.com/solutions/
About BitSight Technologies
BitSight Technologies is transforming how companies manage information security risk with objective, verifiable and actionable Security Ratings. Founded in 2011, the company built its Security Rating Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 56 Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.
SOURCE BitSight Technologies