Cybervadis raises €7M to assess third-party cybersecurity risks and data privacy maturity

Today French cyber risk management platform provider Cybervadis has raised €7M in Series-A funding led by Zobito AB.

The company provides companies with third-party cyber security risk assessments and a standardised cybersecurity rating that they can share with others, along with a detailed improvement plan for increasing their score and the ability to collaborate with clients on implementing better practices. 

Its platform is built on a methodology that maps to all major international compliance standards, including NIST, ISO 27001, GDPR, and many other privacy and security laws. 

Cybervadis has reliably assessed the cybersecurity and data privacy maturity of thousands of third parties in 96 countries using its evidence-based approach.

According to Edouard Lacarrière CyberVadis CEO: 

"This investment validates the need for reliable, evidence-based assessments to scale third-party cyber risk management programs and truly secure organisations' global supply chain. 

We expect this investment to enable us to hire top talents and expand our teams, particularly to service new clients beyond our traditional markets, accelerate innovation, continue enhancing our platform, and deliver even greater value to our customers."

Uli Beckman, Zobito AB partner, will join the CyberVadis board of directors alongside EcoVadis' co-founders and existing growth fund investors CVC Growth Partners (the growth-oriented technology investment arm of CVC Capital Partners) and Partech.

Beckman shared: 

"We are thrilled to be investing in CyberVadis, a company that is revolutionising the way organisations approach third-party cybersecurity risk assessment.Their platform is a game-changer, and we are excited to be a part of their journey."