In a recent development in the field of cyber risk management, Safe Security, an AI-driven cyber risk management company, has acquired RiskLens, which is known for pioneering the Cyber Risk Quantification standard – FAIR. This acquisition aims to combine the advanced cyber risk quantification based on Factor Analysis of Information Risk (FAIR) with the AI-powered automated Cyber Risk Management platform of Safe Security, known as SAFE.
The market is currently experiencing a critical inflection point due to new cyber risk management guidelines from regulatory bodies, such as the White House and the SEC. With this acquisition, Safe Security aims to capitalize on this market opportunity and establish its position as a trusted industry standard in measuring, managing, and transferring cyber risk. The FAIR model of cyber risk quantification pioneered by RiskLens has already gained significant recognition and support from over fourteen thousand practitioners, representing 50% of Fortune 500 companies.
Saket Modi, the CEO and Co-founder of Safe Security, expressed his excitement about welcoming RiskLens into the company. He highlighted the importance of the FAIR model in measuring cyber risk and its alignment with the emerging cyber risk management guidelines. Modi also emphasized that the integration of the FAIR decision science methodology into Safe Security’s Cyber Risk Cloud of Clouds platform will enhance the defensibility of their AI-driven breach prediction and prevention recommendations.
Michael Montoya, the CISO at Equinix, praised the acquisition and its impact on the risk quantification and management market. Montoya acknowledged the market demand for more automation in the overall risk governance process and emphasized the need for a standards-based approach. In his opinion, the integration of the FAIR model into the SAFE platform, along with an engineering and automation first approach, establishes SAFE as the market leader in the cyber risk quantification market.
The customers of RiskLens have long sought a combination of the rigor of FAIR analyses with automation to scale their cyber and enterprise risk management practices. Nick Sanna, formerly the CEO of RiskLens, shared that SAFE was the obvious choice as a partner due to their shared vision for the industry. Sanna will join SAFE as the President and will continue to lead the FAIR Institute.
Jack Jones, the FAIR author, RiskLens Co-Founder, and Chief Research Scientist, expressed his excitement about the acquisition. Jones stated that he developed FAIR as a way for organizations to define, measure, and manage cyber risk from a business perspective. He looks forward to participating in the advancements that will emerge from the combination of RiskLens and Safe Security. As part of the acquisition, Jones will join Safe as their Chief Research Scientist and will continue to act as the Chairman of the FAIR Institute.
Safe Security, as the leader in AI-driven cyber risk management platforms, has redefined cyber risk measurement and management through its real-time, data-driven approach. The recent acquisition of RiskLens further strengthens their position by combining the power of the FAIR model, supported by practitioners in over 50% of Fortune 500 companies, with their advanced AI-fueled Cyber Risk Cloud of Clouds. Safe Security has successfully raised over $100 million and has experienced consistent year-over-year growth of over 200% for the last three years. They serve some of the largest global enterprises and continue to innovate in the field of cyber risk management.
Overall, the acquisition of RiskLens by Safe Security marks a significant development in the field of cyber risk management. By combining their expertise in cyber risk quantification and AI-powered risk management, Safe Security aims to become the de-facto industry standard for measuring and managing cyber risk. The integration of the FAIR model into their platform will provide customers with a comprehensive and automated approach to cyber risk management, helping them navigate the evolving regulatory landscape and protect their organizations from cyber threats.