Cyber Risk Exchange Startup CyberGRX Raises $30 Million

CyberGRX, a Denver, Colorado-based startup that has created what it calls a “global cyber risk exchange”, today announced that it has raised $30 million in Series C funding, bringing the total amount raised by the company to $59 million. Through its recently launched third-party cyber risk management (TPCRM) community, CyberGRX is taking a collaborative approach that connects vendors (third-parties) and their customers with the goal of transforming how organizations conduct third-party cyber risk management and providing an easy and efficient way to identify, prioritize and minimize risk. CyberGRX LogoBuilt on a shared cost model, the exchange features standardized assessments as well as analytics to turn that data into actionable insights that CyberGRX says will help teams achieve more with existing resources.