Benzinga | May 12, 2021 07:01AM EDT

Moody's, Team8 Complete $25M VisibleRisk Investment Amid Bump In Attention To Cyber Risk

Moody's Corporation (NYSE:MCO), alongside global venture group Team8, formally announced Wednesday the completion of a $25 million investment in VisibleRisk.

About: Founded in 2019, VisibleRisk is a joint venture between Moody's and Team8 developing next-generation methods for assessing and mitigating enterprise-level cyber risks.

Through Moody's expertise in risk management and Team8's cybersecurity technology know-how, VisibleRisk provides global organizations access to real-time financial risk monitoring and management.

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What Happened: With the completion of a $25 million investment, as well as the launch of Cyber Ratings, which enable companies to benchmark their cyber risks against those of their peers, and to better understand and manage the impact of cyber threats, VisibleRisk is positioned to become a leader in financial risk-tech innovation.

"The Series A investment will power further development of VisibleRisk's automated data collection and increase product distribution," said VisibleRisk CEO Derek Vadala. "VisibleRisk has 44 employees and expects to reach around 70 by the end of the year."

Why It Matters: The pandemic made the management of cyber risk more important.

"The more digital everything becomes, the easier it is for cybercriminals to attack an organization," Vadala told Benzinga. "VisibleRisk is addressing this by enabling executives to understand their cyber risk exposure and monitor the impact of changes to technology, policies and procedures, and the broader cyber risk landscape on their overall risk profile."