Demand for Bitsight Exposure Management Products Soars by 2x as Cyber Threats Intensify and Regulations Drive Increased Scrutiny

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Apr 09, 2024, 09:00 ET

Company Sees Rapid Adoption of External Attack Surface Management, Digital Supply
Chain Solutions, and Cyber Threat Data Feeds

BOSTON, April 9, 2024 /PRNewswire/ -- Bitsight today announced customer growth of more than 215% for its Enhanced External Attack Surface Management (EASM) and the launch of more than 20 new features for exposure management over the past year. Coupled with the robust expansion of its Third-Party Risk Management solutions as regulations in Europe intensify, and a growing desire from security leaders to consume contextualized threat insights from Bitsight's Data Solutions feed, the achievements mark key milestones in the company's cyber risk management strategy.

"Today's CISO faces an extraordinary challenge driven by a surge in AI-powered bad actors, regulatory shifts, and escalating expectations from Boards and investors who are demanding more from teams with flat budgets," said Bitsight CEO, Steve Harvey. "Our growth over the last year is not only a reflection of the changing landscape, but the trust these leaders place in our solutions and people."

Rapidly Expanding Attack Surface Drives Demand
Bitsight External Attack Surface Management and Data Solutions help security and risk leaders identify, prioritize, communicate, and mitigate risk across their digital ecosystem. With ransomware costs projected to hit $265 billion in 2031 — over 10 times what they were in 2021^¹ – there is an increased focus on the quality of cybersecurity data and the insights it provides.

Over the past 12 months, Bitsight has increased investment in its industry-leading data offerings, which provide high-value insight into cyber security risks. This includes the launch of the Bitsight TRACE threat research team and expanded coverage of emerging vulnerabilities. Bitsight also introduced a new Vulnerability Intelligence feed to provide customers with large-scale access to vulnerability data and trends across their infrastructure and supply chain. The expanded coverage and new delivery methods help Bitsight customers more rapidly identify areas of impact and mitigate issues faster.

This is increasingly significant in light of findings from an upcoming Bitsight TRACE data report, revealing that over 35% of companies had at least one Known Exploited Vulnerability (KEV) in 2023. This Bitsight finding means that more than a third of organizations had an externally facing Critical Vulnerability that was known to be exploited in the wild.^²

Looming Regulations Accelerate Need for Greater Supply Chain Transparency

With the October 2024 NIS2 deadline rapidly approaching, only 34% of European companies say they are prepared. Furthermore, 80% of European companies admit they still need to properly secure their supply chains.^³

"With Bitsight Attack Surface Analytics, we get an instant visual of our global digital footprint. Seeing our data and our clients' data is so critical to maintaining compliance with regulations," said David Perstl, Head of Security, BearingPoint.

As the only provider to look across first, third, and fourth party risk, Bitsight helps map assets, entities, vendors, and vulnerabilities to contextualize risk in customers' digital footprint. To enhance visibility into the extended supply chain, Bitsight recently introduced new Third Party Risk Management capabilities:

Vendor Discovery to automatically surface known and unknown third-party software, reducing weeks of work to just minutes.
Portfolio Risk Analytics to provide a comprehensive view of third-party risk across the enterprise vendor ecosystem.

Learn more about Bitsight's exposure management solutions or read the latest KuppingerCole Leadership Compass Report, which names Bitsight as an overall leader, product leader, innovation leader and market leader, here.

About Bitsight
Bitsight is a global cyber risk management leader transforming how organizations manage exposure, performance, and risk for themselves and their third parties. Companies rely on Bitsight to prioritize their cybersecurity investments, build greater trust within their ecosystem, and reduce their chances of financial loss. As the innovator and creator of the cyber risk ratings market, Bitsight's integrated solutions deliver value across enterprise security performance, digital supply chains, cyber insurance, and data analysis. For more information, visit bitsight.com or connect with us on LinkedIn.