CyberGRX

CyberGRX is a technology company.

Closed

Updated: Feb 17, 2026 ·

Recent News & Mentions

Dec 1, 2019FundingCyberGRX - Series D Nov 1, 2018FundingCyberGRX - Series C Apr 1, 2017FundingCyberGRX - Series B Jul 1, 2016FundingCyberGRX - Series A

Financial History

CyberGRX has raised $99.0M across 4 funding rounds. Most recently, it raised $40.0M Series D in December 2019.

Total Raised

$99.0M

Valuation

N/A

Funding Rounds Raised

Date	Round	Other Investors
Dec 1, 2019	$40.0M Series D	AllegisCyber Capital, Ballistic Ventures, Dell Technologies Capital, Forgepoint Capital, Kleiner Perkins, Paladin Capital Group, Razor's Edge Ventures, Scale Venture Partners, Ten Eleven Ventures, Deepak Jeevan Kumar
Nov 1, 2018	$30.0M Series C	AllegisCyber Capital, Ballistic Ventures, Dell Technologies Capital, Forgepoint Capital, Kleiner Perkins, Razor's Edge Ventures, Scale Venture Partners, Ten Eleven Ventures, Deepak Jeevan Kumar
Apr 1, 2017	$20.0M Series B	AllegisCyber Capital, Ballistic Ventures, Dell Technologies Capital, Forgepoint Capital, Kleiner Perkins, Razor's Edge Ventures, Ten Eleven Ventures, Deepak Jeevan Kumar
Jul 1, 2016	$9.0M Series A	AllegisCyber Capital, Ballistic Ventures, Dell Technologies Capital, Forgepoint Capital, Kleiner Perkins, Razor's Edge Ventures, Ten Eleven Ventures, Deepak Jeevan Kumar

Financial History

CyberGRX has raised $99.0M across 4 funding rounds.

Total Raised

$99.0M

Valuation

N/A

Deep Dive

# CyberGRX: High-Level Overview

CyberGRX is a third-party cyber risk management platform that helps enterprises assess, manage, and share cybersecurity risk data across their vendor ecosystems.[2] Founded in 2015 and headquartered in Denver, the company operates the world's first and largest global risk exchange, enabling organizations to standardize vendor security assessments and reduce compliance overhead.[3] The platform serves over 1,000 organizations globally and was acquired by Mastercard in 2023, signaling the strategic importance of third-party risk management in enterprise security infrastructure.[4]

The company addresses a critical pain point: as supply chain attacks and vendor breaches have proliferated, traditional approaches to vendor risk assessment—fragmented, manual, and repetitive—have become untenable. CyberGRX solves this by creating a centralized exchange where vendors complete a single assessment and share it with multiple partners, while enterprises gain access to cybersecurity risk data on nearly any company worldwide.[3] This data-driven approach combines analytics, automation, real-world attack scenarios, and real-time threat intelligence to help organizations prioritize risks across their entire vendor ecosystem.

# Origin Story

CyberGRX emerged in 2015 during a period of accelerating supply chain complexity and rising cybersecurity threats. The company was built on the premise that third-party cyber risk management needed modernization—moving from ad-hoc questionnaires and manual reviews to a standardized, data-driven platform.[3] The founding team recognized that enterprises were drowning in redundant vendor assessments while vendors faced assessment fatigue, creating inefficiency on both sides of the relationship.

The company achieved remarkable early traction. By 2022, CyberGRX had grown to rank 220 on Deloitte's Technology Fast 500 list and 938 on Inc.'s 500 list, with 196% growth in new customer recurring revenue and over 40% of revenue deriving from multi-year contracts.[3] This growth trajectory—combined with recognition as the 2022 North America Market Leader in cyber risk management by Frost & Sullivan—demonstrated strong product-market fit and enterprise demand.[3]

# Core Differentiators

The Exchange Model: Unlike point solutions, CyberGRX operates a two-sided marketplace where vendors complete assessments once and share them broadly, while enterprises access a growing database of risk profiles. This network effect creates increasing value as more participants join.[3]

Data-Driven Intelligence: The platform combines sophisticated data analytics, real-world attack scenarios, and real-time threat intelligence rather than relying solely on static questionnaires, enabling more predictive and actionable risk insights.[3]

Compliance Efficiency: Organizations can decrease spending on risk management and compliance by consolidating vendor assessments into a single standardized process, with predictive results that illuminate third-party security blind spots.[6]

Scale and Coverage: With access to cybersecurity risk data on nearly any company globally and serving over 1,000 organizations, CyberGRX has built the largest repository of third-party risk intelligence in the market.[3][4]

Enterprise Integration: The platform integrates with tools like ServiceNow, embedding third-party risk management into existing enterprise workflows and vendor risk management (VRM) processes.[6]

# Role in the Broader Tech Landscape

CyberGRX sits at the intersection of two powerful trends: the explosion of third-party risk as a critical business concern and the shift toward data-driven, automated security operations. Supply chain attacks—from SolarWinds to Log4j to countless vendor breaches—have made third-party risk management a board-level priority for enterprises. Traditional vendor assessment approaches, built on manual questionnaires and spreadsheets, cannot scale to meet this demand.

The company's acquisition by Mastercard in 2023 reflects how critical third-party risk has become to financial services and regulated industries broadly.[4] For Mastercard, integrating CyberGRX's capabilities strengthens its ability to manage risk across its own ecosystem while potentially offering risk intelligence as a service to its network of merchants and partners.

CyberGRX also influences how the broader cybersecurity industry thinks about vendor risk. By establishing the exchange model as a standard—where vendors proactively share assessments rather than passively responding to questionnaires—the company has shifted industry norms toward transparency and efficiency. Competitors like Whistic, UpGuard, and BitSight have emerged in response, validating the market opportunity while CyberGRX maintains leadership through scale and data advantage.[1]

# Quick Take & Future Outlook

CyberGRX has successfully transformed third-party risk management from a compliance checkbox into a strategic, data-driven discipline. Under Mastercard's ownership, the company is positioned to deepen integration with financial services and expand its risk intelligence capabilities. The future likely involves several developments: further expansion of the exchange's coverage and data richness, deeper AI-driven predictive analytics to forecast vendor risk before breaches occur, and potential expansion into adjacent areas like fourth-party risk (risks posed by vendors' vendors) and supply chain resilience.

The timing remains favorable. As regulatory frameworks like SEC rules on vendor risk disclosure tighten, and as enterprises face mounting pressure to demonstrate supply chain security, demand for CyberGRX's platform should continue accelerating. The company's influence will likely extend beyond its direct customer base as its risk ratings become industry benchmarks—similar to how credit scores shape financial markets, CyberGRX's assessments may increasingly shape vendor relationships and pricing across industries.

Sources

Frequently Asked Questions

How much funding has CyberGRX raised?

CyberGRX has raised $99.0M in total across 4 funding rounds.

Who are CyberGRX's investors?

CyberGRX's investors include AllegisCyber Capital, Ballistic Ventures, Dell Technologies Capital, Forgepoint Capital, Kleiner Perkins, Paladin Capital Group, Razor's Edge Ventures, Scale Venture Partners, Ten Eleven Ventures, Deepak Jeevan Kumar.