Paris-based company CyberVadis, a leading provider of Third-Party Cyber Risk Management solutions, has successfully raised €7 million in a Series A funding round led by Swedish VC firm Zobito AB. This substantial investment will fuel CyberVadis’ growth, allowing the company to hire top talent, accelerate innovation, and enhance its platform to deliver even greater value to its customers. With the increased support, CyberVadis is poised to revolutionize the way organizations approach third-party cybersecurity risk assessment.
Expanding teams to serve new clients
One of the key focuses of the funding is to expand CyberVadis’ teams to effectively service new clients beyond their traditional markets. By hiring top talents with expertise in the field, CyberVadis aims to strengthen its ability to provide reliable evidence-based assessments. This expansion will enable the company to scale its Third-Party Cyber Risk Management programs and cater to a broader range of organizations, securing their global supply chains.
CyberVadis is committed to driving innovation in the field of third-party cybersecurity risk management. With the Series A funding, the company plans to allocate resources to accelerate research and development efforts. By investing in cutting-edge technologies and methodologies, CyberVadis aims to stay at the forefront of industry advancements. This focus on innovation will enable organizations to adopt initiative-taking approaches in identifying and mitigating cyber risks associated with their third-party vendors.
Enhancing the platform for greater customer value
Customer value lies at the heart of CyberVadis’ mission. With the additional funding, the company will continue to enhance its platform, incorporating advanced features and functionalities. The platform will align with major international compliance standards, including NIST, ISO 27001, and GDPR. By providing an intuitive and user-friendly solution, CyberVadis empowers organizations to streamline their third-party cybersecurity risk assessments and effectively manage their vendor ecosystem.
Zobito AB leading the investment
Zobito AB, a prominent co-investment growth fund based in Malmo, Sweden, has taken the lead in the Series A funding round. The partnership with Zobito AB is a testament to CyberVadis’ revolutionary approach to third-party cybersecurity risk assessment. Uli Beckmann, Partner at Zobito AB, expressed enthusiasm about joining CyberVadis’ board of directors, highlighting the company’s potential to transform the industry. Zobito AB’s expertise in technology and commitment to innovation make them an ideal partner for CyberVadis’ next phase of growth.
“We are thrilled to have Zobito AB on board as an investor and partner. Their expertise in technology and their commitment to innovation make them the perfect fit for Cybervadis as we enter our next phase of growth.” CyberVadis CEO, Edouard Lacarrière.
Continued support from existing investors
In addition to Zobito AB, CyberVadis continues to receive strong support from its existing investors. EcoVadis‘ co-founders and growth fund investors, CVC Growth Partners (the growth-oriented technology investment arm of CVC Capital Partners) and Partech, will also have representatives on the board of directors. This collaborative approach brings together a wealth of experience and diverse perspectives, further bolstering CyberVadis’ position as a leader in the field.
Driving secure global supply chains
CyberVadis’ successful €7 million Series A funding round, led by Zobito AB, marks a significant milestone in the field of third-party cyber risk management. With the new investment, CyberVadis is well-equipped to expand its teams, foster innovation, and enhance its platform to provide greater value to customers. By leveraging evidence-based assessments, advanced technologies, and industry expertise, CyberVadis is poised to transform how organizations approach and manage third-party cybersecurity risks. Through their efforts, CyberVadis aims to create a more secure digital landscape and safeguard global supply chains.