RiskLens Announces Significant Market Momentum Fueled by Surge in Adoption Across Fortune 500
Reston, Va., Feb. 20, 2018— RiskLens, the leading provider of cyber risk quantification solutions, today announced the company has experienced significant market traction and strong financial results in the 2017 calendar year, fueled by a surge in adoption across the Fortune 500. Dozens of leading organizations, including 10 for the Fortune 100, now deploy the company’s solution. The company also announced the appointment of two industry veterans to its management team: Jesse Sun as Vice President of Sales, and Stephen Ward as Vice President of Marketing.
RiskLens closed the 2017 calendar with more than 60% year-over-year growth in recurring revenue, expanded its reach to more than a dozen industry verticals, and continued its dominance as the partner of choice for Fortune 500 organizations. The biggest brands in the world deploy the RiskLens platform to quantify, mitigate and manage cybersecurity risk. RiskLens clients span the Fortune 500, with industry leaders in Retail, Financial Services, Healthcare, Technology, Hospitality, Manufacturing, Oil and Gas, and Consumer Packaged Goods relying on the company’s innovative Software-as-a-Service (SaaS) platform.
The only cyber risk quantification solution purpose-built on the global standard risk quantification model known as FAIR, RiskLens growth is fueled in part by the significant uptick in FAIR adoption. The FAIR Institute, for which RiskLens is a sponsor and Technical Advisor, more than doubled in membership in the last year and now counts more than 2,500 innovative security, technology and risk leaders worldwide as members.
In mid-2017, the company announced it had secured a $5 million Series A equity investment led by Osage Venture Partners with additional proceeds from Paladin Capital Group, Dell Technologies Capital and Kick-Start. The Series A equity infusion helped the company accelerate its go-to-market efforts, expand its product portfolio and drive key hires across Sales, Marketing, Product Development and Client Services.
“Pressure continues to mount across all industries to solve a decades long problem that has produced many of the cybersecurity issues we are confronted with today,” said Nick Sanna, Chief Executive Officer at RiskLens. “Cyber risk must be translated into the language of business and economics. Thus far we have failed to do this, and as a result, strategic and tactical decisions have been made without understanding the bottom line impact. RiskLens is the market leader in cyber risk quantification, bringing the dark ages of cybersecurity decision making to a close. We are witnessing a massive increase in interest from all corners of the globe and have embarked on an aggressive growth strategy to ensure we can help organizations change forever the way in which they look at and manage cybersecurity challenges. With the appointments of Jesse and Stephen, we have rounded out our management team and put the company on an accelerated trajectory to fulfill our mission.”
Sun, whose career spans more than 14 years in software sales, most recently served as Vice President of Sales & Business Development for Natural Insight, where he was responsible for sales, marketing, business development, partner strategy and client retention. Prior to Natural Insight, Jesse served as Vice President of Sales for Parature, where he was among the first 15 employees and instrumental in the company's year-over-year growth and eventual acquisition by Microsoft. During his time at Microsoft, Sun led the international expansion of Parature's products into the EMEA and APAC regions, and helped develop training programs for Microsoft's strategic global partners. He also served as an Advisor to Encore Alerts, which was acquired by Meltwater in 2016.
Ward joins RiskLens following nearly two decades of experience as a technology marketing professional, including the past 10 years working for leading cybersecurity start-ups. Ward brings tremendous experience to RiskLens as the company positions for breakout growth. He most recently held positions as Senior Director of Marketing at ICS security vendor Claroty and at cybersecurity industry giant FireEye. Having played pivotal roles in the growth and eventual acquisition of such brands as NetWitness (acquired by RSA), Invincea (acquired by Sophos) and iSIGHT Partners (acquired by FireEye), Ward is a seasoned industry veteran who understands how to drive change and innovation in the cybersecurity domain.
The company continues to build its Sales, Engineering and Client Services teams at its Reston, VA and Spokane, WA locations.
RiskLens is the leading provider of cyber risk quantification solutions. RiskLens empowers large enterprises and government organizations to manage cyber risk from the business perspective by quantifying that risk in monetary terms. Clients depend on RiskLens solutions to better understand and decipher their cyber risk exposure in financial terms, prioritize their risk mitigations, measure the ROI of their security investments, and optimize their cyber insurance coverage. RiskLens is the only cyber risk quantification software purpose-built on FAIR, the standard quantitative model for information security and operational risk. For more information visit the RiskLens website at www.risklens.com.
VP, Marketing, RiskLens