Third-party cyber risk management solutions provider VISO Trust this week announced that it has raised $11 million in Series A funding, which brings the total investment in the company to $14 million.
The new funding round was led by Bain Capital Ventures, with additional investment from Lytical Ventures, Sierra Ventures, Work-Bench, and the CEOs of Mandiant, Splunk and CrowdStrike.
Founded in 2020, the San Francisco-based company says its artificial intelligence-based platform uses machine learning, document heuristics, and natural language processing to automate the identification, classification, and assessment of “relevant control language in artifacts” at third parties.
VISO Trust claims its third party cyber due diligence platform can provide organizations with the insights they need to make informed risk decisions and to ensure that their relationships with vendors and partners are properly secured.
The company also says that its fully automated platform is beneficial for both vendors and customers alike, and can help security teams measure efficiency gains.
“VISO Trust enables automated assessment in minutes, so security teams can deliver the accurate risk intelligence needed to make informed risk decisions when it matters the most—early in the procurement process,” Russell Sherman, co-founder and CTO at VISO Trust, said.
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