# ThirdPartyTrust

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/thirdpartytrust

- Industry: Software
- Headquarters: Chicago, US
- Website: www.thirdpartytrust.com
- Total disclosed funding: $4.5M
- Latest round: Seed (Jan 6, 2020)
- Investors on record: 3

## About

Headquartered in Chicago, Illinois, ThirdPartyTrust is a provider of Third-Party Risk Management solutions, ensuring organizations can effectively assess and mitigate vendor-related cybersecurity risks.Founded in 2015, ThirdPartyTrust specializes in Third-Party Risk Management (TPRM), offering solutions that enhance cybersecurity for organizations. The company was recently acquired by BitSight Technologies, Inc. in August 2022, providing a robust end-to-end TPRM solution. The CEO and founder, Anders Norremo, has a history of leading initiatives in cybersecurity and risk management. Through this acquisition, ThirdPartyTrust has raised a total of USD 4.50 mn across its funding rounds, with the recent Seed round involving investors such as Capital Midwest Fund and Cultivation Capital.ThirdPartyTrust, now integrated with BitSight, offers a comprehensive TPRM solution that provides real-time insights throughout the vendor lifecycle. Their core services encompass external attack surface management, cyber threat intelligence, vulnerability intelligence, and continuous monitoring. These offerings are designed to help security leaders effectively identify exposures and threats, enabling organizations to prioritize and mitigate risks across their attack surface. The company serves clients in various sectors, including finance, healthcare, and manufacturing, and has a presence in North America, Europe, and Asia Pacific.BitSight operates on a subscription-based revenue model, providing tiered access to its TPRM platform for ongoing monitoring and insights into third-party vendor risks. Clients can engage through annual subscriptions that include various levels of service, tailored to their specific risk management needs. The company's flagship products, such as Bitsight Pulse and risk assessment tools, are critical for revenue generation, equipping clients with essential data and analytics to manage vendor-related risks effectively.In the coming year, BitSight plans to leverage the recent acquisition of ThirdPartyTrust to enhance their TPRM offerings, strengthening vendor risk management capabilities globally. The acquisition is set to support the development of new products aimed at improving cybersecurity insights, expected to be launched by late 2023. Additionally, BitSight is targeting expansion into European and Asia Pacific markets by mid-2024, utilizing the latest funding received from the Seed round to facilitate these growth initiatives.

## Funding rounds

- Seed, Jan 6, 2020, $4.5M — Capital Midwest Fund, Cultivation Capital
- Seed, Nov 1, 2018 — SixThirty

## Investors

- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Seed
- Capital Midwest Fund (https://capitalatlas.ai/funds/capital-midwest-fund) — Seed
- Cultivation Capital (https://capitalatlas.ai/funds/cultivation-capital) — Seed