Black Kite, a cyber risk monitoring platform provider, has raised $22 million in Series B funding. The company will use the funding to bolster its marketing, customer success, channels and strategic partnerships, according to a prepared statement.
The Series B funding increases Black Kite's total financing to more than $33.1 million since 2019, the company noted. It also supports Black Kite's efforts to help risk management teams leverage its platform to gain digital supply chain insights and use them to identify and close security gaps.
Supply chain security has been top-of-mind for MSPs and MSSPs ever since attackers began hitting RMM (remote monitoring and management) and remote control software tools. In some cases, the RMM attacks spread malware and ransomware across MSP software ecosystems as well as end-customer systems.
How Does Black Kite's Cyber Risk Monitoring Platform Work?
Black Kite's cyber risk monitoring platform provides standards-based cyber risk assessments for digital supply chains, the company said. It follows and applies commonly used MITRE frameworks to calculate security ratings and provides grades that let a risk management team know which supply chain vendors pose the highest risk to its organization.
In addition, the platform leverages the Open FAIR international standard Value at Risk (VaR) model for cybersecurity and operational risk, Black Kite noted. It uses Open FAIR to calculate the probable financial impact if a third-party vendor, partner or supplier experiences a security breach.
Also, the platform correlates cyber risk findings to industry standards and best practices, Black Kite said. This ensures that a risk management team can use the platform to measure its organization's compliance level in accordance with PCI-DSS, HIPAA and other data security standards.
What Does the Future Hold for Black Kite?
Black Kite is planning for rapid employee growth at its Boston, Massachusetts headquarters, the company indicated. The company previously expanded its Boston headquarters and more than doubled its customer base and employee headcount since October 2020.
Black Kite launched the Aviator partner program in August 2021. The program "enables IT solutions providers to bolster their portfolio of cyber risk services and help customers secure their supply chains," the company said. Program members have access to Black Kite's platform and the Aviator partner portal, which houses a library of sales and marketing content, deal registration, and other enablement tools. More than 50 companies have signed on to the program, Black Kite indicated.