RiskRecon provides automated cyber risk assessments and continuous monitoring for third-party vendors, utilizing a proprietary risk ratings model to evaluate their security posture. This technology enables organizations to gain real-time visibility into potential vulnerabilities in their supply chain, enhancing their overall risk management strategy.
Funding
$25M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Organizations face challenges in effectively managing and monitoring the cybersecurity risks associated with their third-party vendors and supply chains. Traditional methods, such as annual security questionnaires, provide a limited and point-in-time view of a vendor's security posture. This lack of real-time visibility can lead to undetected vulnerabilities and potential breaches originating from third-party connections.
Solution
RiskRecon, a Mastercard company, offers a platform for automated cyber risk assessments and continuous monitoring of third-party vendors. The platform uses a proprietary risk ratings model to provide organizations with real-time visibility into the cyber performance of their vendors and supply chain partners. RiskRecon's assessments are custom-tuned to match an organization's risk appetite, enabling them to focus on the issues that matter most. The platform automates the creation of vendor risk action plans, facilitates collaboration with vendors, and tracks their progress in addressing identified issues.
Target Audience
RiskRecon is designed for organizations of all sizes that rely on third-party vendors and want to improve their cyber risk management programs, including security, risk, and compliance professionals.
Features
- Automated risk assessments based on externally visible factors
- Continuous monitoring of vendor cybersecurity posture
- Proprietary risk ratings model for evaluating vendor security
- Customizable assessments tailored to specific risk appetites
- Automated vendor risk action plans with prioritized issues
- Collaboration workflow for sharing action plans with vendors
- Progress tracking and reporting on vendor remediation efforts
- Independently certified asset attribution accuracy of 99.1%
- Comprehensive dashboard with board-level reporting capabilities
- Compliance indicators to assess alignment with regulatory frameworks