RiskLens ranked highest in the strategy category and "differentiates with its FAIR expertise and guided modeling approach," according to the report.
PALO ALTO, Calif., July 19, 2023 /PRNewswire/ -- Today, RiskLens, acquired by Safe Security (SAFE), the leader in AI-based cyber risk management SaaS platforms, was named a leader in The Forrester Wave™: Cyber Risk Quantification (CRQ), 2023 report, released by independent research firm Forrester Research, Inc. Forrester announced the results of its first-ever Wave report on Cyber Risk Quantification (CRQ). CRQ is coming to the forefront for CISOs with impending SEC regulations, the growing need to prioritize cyber investments in terms of lowering business risk, and rising cyber insurance premiums.
"RiskLens has been at the front of the CRQ movement since we launched our enterprise platform in 2015," said Nick Sanna, President, Safe Security. We are honored to be recognized as a leader in this first-ever Forrester Wave report on CRQ by such a respected source. We believe this recognition validates our technology and approach. RiskLens' experience, trust, and fidelity, combined with SAFE's ease of use, automation, and cutting-edge AI technology, will enable us to equip businesses with the most advanced cyber risk quantification and management (CRQM) solution.
The Forrester Wave™ report states that "RiskLens differentiates with its FAIR expertise and guided modeling approach." It notes that "RiskLens is one of the most recognizable names in CRQ thanks to its role in creating the Open FAIR standard and in leading the FAIR Institute, a nonprofit professional organization." The report adds, "Founded in 2011, RiskLens has a long history of introducing innovative features that make FAIR-based CRQ accessible to customers.".
In Forrester's evaluation, RiskLens received the highest score in the Analytics criterion and the highest possible scores in the following 16 of the 26 criteria:
Current Offering Category: Methodology (Quantification Model and Scenario Scoping), Comparative Scenario Analysis, User Experience, Integrations, Workflow, Scalability, Financial Losses, Controls, Data Management
Strategy Category: Vision, Innovation, Roadmap, Partner Ecosystem, Adoption
"Cyber risk quantification is now a mainstream topic with digital business leaders. Simply curating a cyber stack is no longer enough - organizations must shift their focus to effectively managing cyber risk. With RiskLens and SAFE's cloud platform, businesses can stay ahead of the game by AI-driven predictions, prioritizing risk actions, and communicating effectively with their board - all in one place," said Saket Modi, Founder & CEO of SAFE. "We are creating the industry standard for cyber risk management."
"As CRQ has evolved into a must-have solution for CISOs to improve their communication and decision-making about cyber risk, Forrester fills a void in the industry by helping them evaluate the wide variety of available CRQ solutions. As an organization that adopted the FAIR standard as our risk taxonomy and quantification model, we are pleased to see RiskLens recognized as a leader in CRQ," said Michael Meis, CISO, The University of Kansas Health Systems. "With the automation and AI capabilities that the SAFE acquisition of RiskLens brings, customers will be able to efficiently scale CRQ like never before."
To read more about today's announcement and receive a complimentary copy of The Forrester Wave™: Cyber Risk Quantification, Q3 2023.
About Safe Security
Safe Security is the leader in AI-driven cyber risk management. 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.