Riscosity – Third-Party Data Observability Pioneer – Closes $7M of New Funding
Summary
"As software investors, we have witnessed the explosion of developers’ use of third-party components and data sub-processors—as well as the growing risks it poses to enterprises’ security and regulatory compliance,” said Aaron Perman, Partner at S3 Ventures. Anirban previously co-founded two successful cybersecurity companies, StopTheHacker and OnionID, that were acquired by Cloudflare and Thycotic, respectively.Over the last decade, software development has accelerated dramatically, as developers routinely integrate third-party components to access a dizzying array of services, including multi-factor authentication, usage analytics, and payment processing. As a result, security and regulatory-conscious companies now regularly vet every third-party with which their own and vendors’ software integrates—resulting in time-consuming reporting that slows procurement and time-to-value. “While other products offer point solutions for Software Bills of Material (SBOM), Software Composition Analysis (SCA), or network traffic monitoring, Riscosity is the only platform that combines these capabilities—along with Third-Party Data Observability (TPDO)—in a single pane of glass,” said Mahendra Ramsinghani, Managing Director at Secure Octane Investments. The solution is low friction to implement and trusted by large, publicly traded enterprises,” said James Greene, Riscosity’s CTO and Co-Founder.