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BitSight, the Standard in Security Ratings, today announced a record 2017 with over 90% worldwide sales growth, 75% customer growth and 96% customer satisfaction, further validating market leadership. BitSight pioneered the security ratings market in 2011, as the first company to offer a security ratings product. Organizations worldwide use BitSight’s proven Security Ratings technology on a daily basis to make integral risk and business decisions. Having amassed over 1,000 customers and the largest ecosystem of users and information, BitSight continues to be the most widely used Security Ratings Service.
According to Gartner, “By 2022, cybersecurity ratings will become as important as credit ratings when assessing the risk of business relationships.” The report continues, “Over the next six years, these [cybersecurity rating] services will become a mandatory precondition for a growing number of business relationships and part of the standard of due care for providers and procurers of services. These cybersecurity scores will impact the degree to which other companies engage in high-value business with the organization. These scores will have an impact on cost/availability of cyberinsurance.”¹
“After focusing on educating the industry and building the security ratings market for the last six years, we feel that it is extremely rewarding to see organizations like Gartner address the significance of BitSight’s offering within third-party risk management in their report,” stated Tom Turner, CEO of BitSight. “But our own work in this area is not done. Although we completed a record year in 2017, we know that there is a greater opportunity for BitSight. With plans to increase our worldwide employee base by 50%, dedicating additional resources to product innovation, research and customer success, BitSight is poised for further market disruption. The value BitSight brings will continue to increase as we help organizations to not only better understand their risk, but prioritize and allocate resources to minimize risk and maximize the value of their efforts.”
“A number of people have asked me why BitSight is so far ahead of the competition,” said Shaun McConnon, Executive Chairman of BitSight. “While I credit our founders’ vision in pioneering this market, it inevitably comes down to the people. We have an incredible, experienced, cohesive executive team that is committed to BitSight and our journey. Every executive has experienced tremendous success in the same or similar role at market-leading companies, like BitSight. Not to mention, almost half of these amazing men and women have previously worked together. Two great things come from this. First, understanding the customer is at the center of all decisions. Second, knowing what it takes to meet those customers’ needs at scale. This amount of experience and cohesiveness enables us to quickly navigate the critical decisions needed to lead the market in product innovation and customer satisfaction.”
Since inception, BitSight has dedicated significant resources to research and development, providing customers with objective, verifiable and actionable security data that is highly correlated to breach.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
BitSight is transforming how companies manage information security risk with trusted, time-tested and actionable security ratings. Founded in 2011, the company built its Security Ratings Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 20% of Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.