Powerful combination of SAFE Platform’s industry defining AI capabilities coupled with the industry standard FAIR model for cyber risk quantification, that was pioneered by RiskLens, gives enterprises a one-stop shop to address all their cyber risk quantification and management needs and paves a path to comply with impending SEC Cyber Guidelines
PALO ALTO, California – July 12, 2023 – Safe Security, the AI-Driven Cyber Risk Management company, has acquired RiskLens, the pioneer of the Cyber Risk Quantification standard – FAIR. By combining RiskLens and Safe Security, the two companies are bringing together the world’s most advanced cyber risk quantification based on Factor Analysis of Information Risk (FAIRTM), with the world’s most advanced AI-powered automated Cyber Risk Management platform, SAFE.
“We are at a critical inflection point in the market with new cyber risk management guidelines stemming from the White House and regulatory bodies, like the SEC. I am thrilled to welcome RiskLens, which has pioneered the FAIR model of cyber risk quantification and established a trusted standard for measuring cyber risk, supported by over fourteen thousand practitioners, representing 50% of Fortune 500 companies,” said Saket Modi, CEO and Co-founder at Safe Security.
“As part of our roadmap, we will be embedding the FAIR decision science methodology into our Cyber Risk Cloud of Clouds platform that processes over 3 Billion signals per day, enhancing the defensibility of our AI-driven breach prediction and prevention recommendations. This acquisition accelerates our mission of becoming the de-facto industry standard to measure, manage, and transfer cyber risk,” said Modi.
“Many boards are struggling on how to quantify their cyber risk, especially in wake of the upcoming SEC regulations. With this acquisition, SAFE is shaping the risk quantification and management market with a standards-based approach coupled with automation,” says Michael Montoya, CISO at Equinix. “The market is demanding that we drive more automation into our overall risk governance process. Point in time assessments with subjective manual inputs are not good enough, zero day attacks don’t wait for your annual risk reviews. The fact that SAFE is now embedding the community adopted and trusted FAIR model into the SAFE platform with an engineering and automation first approach, coupled with generative AI, makes SAFE the absolute market leader in the cyber risk quantification market,” added Montoya, who has been a RiskLens customer for over 3 years now.
“Our customers have been asking to combine the rigor of FAIR analyses with automation to scale their cyber and enterprise risk management practices. We looked for a partner to accelerate the fulfillment of this vision and SAFE became the obvious choice because of the shared vision for the industry,” shared Nick Sanna, formerly CEO of RiskLens, who will join SAFE as the President and will continue to lead the FAIR Institute.
FAIR author, and RiskLens Co-Founder, and Chief Research Scientist Jack Jones also commented that, “I developed FAIR as a way for organizations to define, measure and manage cyber risk from the business perspective. I am excited to have RiskLens join forces with Safe Security and cannot wait to take part in the extraordinary advancements that will emerge from this combination”. As part of this acquisition, Jack Jones will join Safe as their Chief Research Scientist and will continue to act as Chairman of the FAIR Institute.
About Safe Security:
Safe Security is the leader in AI-driven cyber risk management platforms. It has redefined cyber risk measurement and management with its real time, data-driven approach that empowers enterprise leaders, regulators, and cyber insurance carriers to understand cyber risk in an aggregated and granular manner. The recent acquisition of RiskLens brings together the power of the world’s most advanced cyber risk analytics model (FAIR) supported by practitioners in over 50% of Fortune 500 companies, with the world’s most advanced AI-fueled Cyber Risk Cloud of Clouds, processing over three billion signals a day.
Having raised over $100M, Safe is growing over 200% year over year, consecutively for the last three years and serves some of the largest global enterprises. Visit safe.security and follow us at @SafeCRQ.