BitSight
BitSight helps enterprises manage cyber risk through security ratings and third-party monitoring.
BitSight is a cybersecurity intelligence platform that measures and monitors security performance through proprietary security ratings (250-900 scale) based on billions of cyber events and data points. The company serves enterprises, insurers, governments, and investment firms to manage third-party cyber risk, conduct M&A due diligence, and underwrite cyber insurance policies. BitSight created the security ratings category and operates one of the world's largest cyber risk datasets, processing 540B+ cyber events annually and monitoring 65K+ vendors globally.
Problem solved
Organizations lack visibility into their cybersecurity posture and that of their vendor ecosystem, making it difficult to identify, prioritize, and mitigate cyber risks across supply chains.
Target customer
Fortune 500 companies, cyber insurers, investment banks, government agencies, and large enterprises requiring third-party cyber risk management and vendor security monitoring
Founders
S
Stephen Boyer
Co-Founder
Computer Science degree from Brigham Young University, System Design and Management from MIT, former U.S. government cybersecurity engineer, co-founded Saperix Inc. (acquired by Firemon)
N
Nagarjuna Venna
Co-Founder
Security and cybersecurity background
Funding history
Seed
$1.03M
April 2011
Led by Unknown
· Unknown
Series A
Unknown
2013
Led by Unknown
· Unknown
Series C
$40M
September 2016
Led by GGV Capital
· Flybridge Capital Partners, Globespan Capital Partners, Menlo Ventures, Comcast Ventures, Liberty Global Ventures, Singtel Innov8
Series D
$60M
June 2018
Led by Warburg Pincus
· Menlo Ventures, GGV Capital, Singtel Innov8
Series E
$250M
September 2021
Led by Moody's Corporation
· Unknown
Total raised:
$398M
Industries
Pricing
Subscription-based with annual contracts. Pricing ranges from thousands of dollars to analyze a single company to $1M+ for monitoring thousands of suppliers. Tiered model: Essentials (entry-level, 50-200 companies), Advanced (comprehensive monitoring), and Premier (full suite). Specific pricing not publicly disclosed. Contracts typically include 3-5% annual price escalation clauses.
Notable customers
Lowe's, AIG, Safeway, 7 of top 10 cyber insurers, 20% of Fortune 500 companies, 3 of top 5 investment banks, 20% of global governments, 3,500+ total organizations
Integrations
Schneider Electric (2023 partnership), GRC platform integrations, Unknown specific integration list
Website
Competitors
SecurityScorecard
Early competitor in security ratings space; BitSight maintains category leadership with larger dataset and broader integration ecosystem
OneTrust
Broader GRC platform focused on compliance; BitSight specializes deeper in cyber risk ratings and third-party monitoring
UpGuard
Focused on attack surface management; BitSight covers broader cyber risk assessment and insurance underwriting
RiskRecon
Third-party risk management platform; BitSight differentiates with proprietary security ratings methodology
Prevalent
Third-party risk platform; BitSight leads with comprehensive security ratings and 540B+ annual cyber event processing
Why this matters: BitSight created the security ratings category and maintains market leadership with one of the world's largest cyber risk datasets (540B+ events annually). The company's strategic partnership with Moody's Corporation (which became largest shareholder in $2.4B Series E) signals convergence between traditional financial risk assessment and cyber risk, positioning BitSight as infrastructure for cyber insurance and credit markets.
Best for: Large enterprises, insurers, and investment firms that need continuous cyber risk visibility across their own infrastructure and extensive vendor ecosystems.
Use cases
Third-Party Risk Management
Security teams monitor 50+ to 1000+ vendors continuously using BitSight security ratings to identify risky suppliers before a breach occurs. Teams receive alerts when vendor security ratings drop, enabling proactive risk mitigation and contract renegotiation.
Cyber Insurance Underwriting
Insurers use BitSight security ratings as underwriting criteria to assess policyholder risk and price premiums accurately. Seven of the top 10 cyber insurers rely on BitSight data, covering 50%+ of global insurance premiums written.
M&A Due Diligence
Investment banks and acquirers use BitSight ratings to evaluate target companies' cyber risk posture as part of deal assessment. This reduces post-acquisition cyber incident risk and informs purchase price negotiations.
Security Benchmarking
Enterprises compare their security ratings against industry peers and competitors to identify performance gaps and justify security budget increases to executives.
Alternatives
SecurityScorecard
Earlier entrant in security ratings; choose if seeking alternative to BitSight's dominant market position or different methodology
OneTrust
Better for organizations needing integrated GRC, compliance, and privacy management alongside cyber risk; broader scope than BitSight's focused approach
Prevalent
Choose for simpler third-party risk workflows with less enterprise complexity; BitSight preferred for large-scale vendor monitoring (1000+ vendors)
FAQ
What does BitSight do? +
BitSight measures cybersecurity performance through proprietary security ratings (250-900 scale) and monitors cyber risk across organizations and their vendor ecosystems. The platform processes 540B+ cyber events annually, analyzes 4B+ IP addresses, and monitors 65K+ vendors globally. Organizations use BitSight for third-party risk management, cyber insurance underwriting, M&A due diligence, and security benchmarking.
How much does BitSight cost? +
BitSight pricing is subscription-based with annual contracts ranging from thousands of dollars for single-company analysis to $1M+ for monitoring thousands of suppliers. Pricing uses a tiered model (Essentials, Advanced, Premier) based on number of vendors monitored and features required. Specific pricing is not publicly disclosed; contact for custom quotes. Contracts typically include 3-5% annual price increases.
What are alternatives to BitSight? +
SecurityScorecard offers similar security ratings methodology; OneTrust provides broader GRC and compliance capabilities alongside cyber risk; Prevalent specializes in third-party risk for smaller deployments; RiskRecon and Black Kite also compete in third-party cyber risk management.
Who uses BitSight? +
Target customers include Fortune 500 enterprises, cyber insurers (7 of top 10), investment banks (3 of top 5), and government agencies (20% of global governments). Named customers include Lowe's, AIG, and Safeway. Over 3,500 organizations use BitSight, with the platform covering 50%+ of global cyber insurance premiums.
How does BitSight compare to SecurityScorecard? +
Both created the security ratings category, but BitSight established market leadership with 540B+ annual cyber events processed versus competitors' smaller datasets. BitSight has deeper insurance industry adoption (7 of 10 top cyber insurers) and broader governmental use. SecurityScorecard offers comparable ratings functionality but with smaller vendor network and less insurance/government market penetration.
Tags
cybersecurity
risk management
security ratings
third-party risk
vendor monitoring
cyber insurance
threat detection
supply chain security