SecurityScorecard, the global leader in cybersecurity ratings, announced that the company closed its fiscal year ending December 31, 2022, with significant momentum, achieving 49% growth year-over-year. SecurityScorecard now delivers security ratings, response, and resilience solutions and services to 73% of the Fortune 100, with over 12 million organizations continuously rated.
“Without that knowledge, it’s impossible for them to make good cyber-risk management decisions that result in a more cyber resilient organization.”
Globally, SecurityScorecard experienced tremendous global expansion of its business outside of North America with 68% year-over-year growth in ending annual recurring revenue. Further, the company acquired LIFARS™, a global leader in digital forensics, incident response, and cyber resiliency services. The company also gained a number of market-leading customers in 2022 including Chubb and NTT.
“Our growth signals an inflection point for the security ratings market worldwide,” said Dr. Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard. “When attending the World Economic Forum in Davos this year, cyber resilience was clearly top of mind for global leaders across the private and public sector. These organizations are focused on maintaining trust with their ecosystem amidst geopolitical tensions and escalating cybersecurity threats, making the ability to measure cybersecurity a must-have.”
“Boards and business leaders need a far better understanding of cybersecurity visibility and continuous monitoring data, and their relationships to business processes,” said Jon Oltsik, distinguished analyst and ESG Fellow. “Without that knowledge, it’s impossible for them to make good cyber-risk management decisions that result in a more cyber resilient organization.”
Trusted by Governments and Insurers
SecurityScorecard has become a trusted, go-to resource for the U.S. government. For example, the company established partnerships with more than eight public sector-related associations, including the New York Department of Financial Services, the U.S. Conference of State Bank Supervisors (the umbrella organization for all 50 state banking regulators), and the U.S. national associations for U.S. counties, state legislators, and state CIOs. In 2022, the U.S. government’s cyber agency, CISA, added SecurityScorecard to the catalog of Free Cybersecurity Services and Tools and publicly partnered with SecurityScorecard via CISA’s Joint Cyber Defense Collaborative.
Additionally, SecurityScorecard’s Threat Research, Intelligence, Knowledge, and Engagement (STRIKE) team led an investigation of nation-state cyber activity leading up to and during Russia’s 2022 invasion of Ukraine, resulting in the discovery of the “Zhadnost” botnet, found to conduct DDoS attacks on Ukrainian and Finnish governments. SecurityScorecard’s Zhadnost research was ultimately cited by the U.S. government as part of CISA’s Shields Up program.
In 2022, SecurityScorecard’s Attack Surface Intelligence solution was added to the Department of Homeland Security (DHS) Continuous Diagnostics and Diagnostics and Mitigation (CDM) Program’s approved products list (APL), providing Government agencies with the ability to leverage SecurityScorecard’s solution to identify, contextualize, and prioritize critical threats across their global attack surface.
SecurityScorecard is also now a trusted standard in cyber insurance and cyber underwriting with insurance organizations, achieving 120% growth of new ARR in its insurance business in 2022. SecurityScorecard’s portfolio is highlighted by relationships with market-leading cyber insurers and insurance brokers including Chubb, AXA, Marsh and McLennan, and Willis Towers Watson.
SOURCE: Businesswire