As the Security Rating Services Market Crystallizes, BitSight Achieves Record First Half

CAMBRIDGE, Mass., July 12, 2017 /PRNewswire/ -- BitSight, the Standard in Security Ratings, today announced its first half of 2017 key milestones, solidifying its leadership position within the security rating services market. Continued momentum can be attributed to the breadth and strength of BitSight's solution, global customer growth, and key strategic partnerships. Additionally, the company has strengthened its management team with four key executive hires and the promotion of Tom Turner to CEO, with Shaun McConnon becoming Executive Chairman of the Board.

"This has been a record first half of the year for BitSight," said Tom Turner, CEO and president of BitSight. "Not only have we continued to innovate, providing the most comprehensive security rating solution available, we have continued to scale as an organization. BitSight's bookings and customer growth are evidence that we lead the security rating services market and reflect the strength of our team, research, and offering. I feel incredibly fortunate to be a part of this team and look forward to continuing to work closely with Shaun as we take the company to its next stage of growth." 

BitSight is the Leader in the Security Ratings Services Market

• 750 customers, approximately 100% growth as compared to the same period last year, including over 100 of the Fortune 1000
• Rapid growth of global customers, over 25% of customers located outside of North America
• 140% growth of channel-based business as compared to the same period last year, and a 25% increase in global channel partners
• Grew database of high-quality mapped companies to almost 100,000
• Released BitSight Sovereign Security Ratings, the first objective measurement of national cybersecurity risk
• Analyzes 2x the risk vectors of other security rating services
• Announced key partnerships with Optiv and Telefonica to enhance cybersecurity visibility across supply chains

Accomplished Management Team

• Shaun McConnon, formerly CEO, appointed Executive Chairman of the Board
• Tom Turner, an early BitSight employee and its president, assumed the role of CEO
• Additional executive hires include:
• Brian Cohen, CFO
• Elizabeth Fischer, General Counsel
• Dave Fachetti, SVP of Partnerships
• Eric Fischer, SVP of Worldwide Sales

Industry Recognition

• TransUnion, a BitSight customer, awarded 2017 CSO50 award for developing and implementing a security program based on BitSight Security Ratings that drives business value
• Creation and support for the "Principles for Fair and Accurate Security Ratings," which promote fairness in reporting and cybersecurity performance analysis, encouraging the adoption of security ratings across all industry sectors
• Achieved the highest average rating for a security rating services provider on Gartner Peer Insights, which offers detailed perspectives from IT professionals free of vendor influence
• AnubisNetworks, a BitSight company, ranked 5th place in the "Great Place to Work" for companies with less than 100 employees in Portugal and 10th overall, according to the 2017 edition of the study carried out by Great Place to Work Institute
• Awarded Advisen's "2017 Cyber Service Vendor of the Year" for work in the cyber insurance industry

Dedication to Objective Research

• A Growing Risk Ignored: Critical Updates
• How Secure Are America's Largest Business Partners? Rating The Cybersecurity Performance of the Fortune 1000
• Discovered further correlation between BitSight risk vectors and data breaches
• Assessed the prevalence and impact of WannaCry ransomware on a global scale

Additional Resources

• Read about "Why Reputational Risk Management is so Critical for your Organization"
• Watch Stephen Boyer, CTO and Co-Founder of BitSight, on the recent Petya ransomware attack, which demonstrates the exposure that comes from third parties
• Learn how Veracode leverages BitSight to gain a competitive edge and convey cybersecurity excellence to its customers
• Read about the CEO transition at BitSight as featured in Boston Business Journal

About BitSight Technologies

BitSight is transforming how companies manage information security risk with objective, verifiable and actionable Security Ratings. Founded in 2011, the company built its Security Ratings 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, 80 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

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