Silicon Valley cybersecurity firm UpGuard is rolling out a new risk mitigation platform that aims address a lack of oversight and accountability when it comes to third party vendor relationships.
UpGuard says CyberRisk streamlines the risk management process by providing users a real-time view of the cyber risk associated with every vendor in their portfolio.
The risks are evaluated against the Cybersecurity Threat Assessment Rating and assigned a score, which security teams can use when determining whether to allow third-party vendors access to corporate data. CyberRisk also lets users monitor security compliance and automate vendor risk assessments.
"Unfortunately, many organizations still lack the processes and tools to conduct a comprehensive audit of internal and external factors affecting vendor risk," said UpGuard co-CEO Mike Baukes. "This is evidenced by the sheer number of breaches occurring on a daily basis. This is an epidemic."
UpGuard is behind some of the more notable breach exposures in recent memory, including breaches at Verizon, Viacom, and the Pentagon's National Geospatial-Intelligence Agency. UpGuard's new cyber risk analyst Chris Vickery is also touted as the internet's data breach hunter.
UpGuard's flagship product is a credit-style score for cybersecurity, which determines a company's cyber-risk factors by scanning its internal network and systems before issuing a report on where it can improve. UpGuard also has a free web-based tool that lets anyone run a scan on any company's external network (such as a website and subdomains) to measure its security posture.
The company raised $17 million in financing last year pinned on its cybersecurity grading system.
The news comes on the same day as the company's cyber risk team discovered a massive exposure of Accenture data.