Artificial intelligence-driven cybersecurity risk assessment company Safe Securities Inc. has acquired risk management startup RiskLens Inc. for an undisclosed sum.

Founded in 2011, RiskLens offers cyber risk management software designed to empower risk and chief information security officers to manage their cyber risk from a business perspective by quantifying it financially.

The company’s platform allows for the management of digital risk by helping users understand risks in financial terms to improve decision-making across the C-suite and board. The platform prioritizes cybersecurity projects relative to the risk they reduce, measuring their value and optimizing spending, all while improving the quality, consistency and scalability of cyber risk management programs.

The acquisition by Safe Security will see the RiskLens Cyber Risk Quantification Standard — Factor Analysis of Information Risk or FAIR — combined with Safe Security’s AI-powered automated Cyber Risk Management platform, called SAFE.

FAIR’s decision science methodology will be integrated into Safe Security’s Cyber Risk Cloud of Clouds platform, which processes more than 3 billion signals daily. Once in place, the integration will enhance the defensibility of Safe Security’s AI-driven breach prediction and prevention recommendations, the companies said.

“Many boards are struggling on how to quantify their cyber risk, especially in the wake of the upcoming SEC regulations,” Michael Montoya, chief information security officer at data center company Equinix Inc., said in a statement Wednesday. “With this acquisition, Safe Security is shaping the risk quantification and management market with a standards-based approach coupled with automation.”

As part of the acquisition, Nick Sanna, formerly chief executive officer of RiskLens, will join Safe Security as president and will continue to lead the FAIR Institute.

Coming into the acquisition, RiskLens had raised $26.8 million in funding, according to Crunchbase, including a round of $20 million in 2019. Investors in the company include Osage Venture Partners LLC, Dell Technologies Capital, MassMutual Ventures LLC, Paladin Capital Group KKC and F-Prime Capital LLC.

Safe Security is also venture capital-funded, having raised $99.2 million to date, including a round of $33 million in 2021. Investors include Telstra Ventures Pty. Ltd., Fidelity Ventures, Eight Roads Ventures, Western Technology Investment and MS&AD Ventures Inc.

Image: RiskLens