ThirdPartyTrust provides a vendor management tool that automates third-party risk assessments, enhancing visibility and efficiency across the vendor lifecycle. By leveraging a centralized repository of over 17,000 vendor profiles, the platform reduces assessment workloads and accelerates the review process for enterprises and their vendors.
Funding
$250M 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.
MSFounders
Product
Problem
Enterprises face challenges in efficiently managing and assessing the risks associated with third-party vendors, often relying on manual processes and disparate systems. This can lead to incomplete risk visibility, increased assessment workloads, and delays in the vendor review process.
Solution
ThirdPartyTrust, now part of Bitsight, offers a vendor management tool designed to automate and streamline third-party risk assessments. The platform provides a centralized repository of vendor profiles, enabling enterprises to improve visibility and efficiency across the vendor lifecycle. By leveraging this network, organizations can reduce assessment workloads, accelerate the review process, and proactively monitor vendor risk. ThirdPartyTrust serves as a single pane of glass risk dashboard, offering an end-to-end document repository and workflow automation to scale vendor risk management programs.
Target Audience
The primary customers are enterprises seeking to streamline vendor risk assessments and third-party vendors aiming to efficiently share their security posture with multiple customers.
Features
- Centralized repository of over 17,000 vendor profiles for streamlined risk assessments.
- Workflow automation to reduce manual effort in vendor risk management.
- Continuous monitoring capabilities for proactive risk management.
- End-to-end document repository for comprehensive vendor information.
- API accessibility for integration with GRC platforms, ticketing systems, and reporting tools.
- Centralized security profile for vendors to share questionnaires, certifications, and attestations.