Bitsight

Bitsight was founded in 2011 by Stephen Boyer and Nagarjuna Venna and is headquartered in Boston, Massachusetts. The company is privately held. In 2021, credit rating agency Moody's Corporation invested $250 million into Bitsight, bringing its valuation to $2.4 billion. Concurrently, Bitsight acquired VisibleRisk, a cyber risk quantification joint venture previously created by Moody's and the Israeli venture creation group Team8.

Bitsight's primary product is its Security Ratings platform. The system continuously analyzes externally observable network traffic and configurations to assign organizations a security rating between 250 and 900, functioning similarly to a consumer credit score. Enterprise risk, compliance, and security teams use the platform primarily for Third-Party Risk Management (TPRM) to assess the security posture of their vendors and supply chain. Additionally, cyber insurance carriers utilize the ratings to underwrite policies.

Bitsight competes directly with SecurityScorecard and UpGuard in the cybersecurity ratings category. The strategic partnership and equity investment from Moody's integrated Bitsight's risk data directly into Moody's broader corporate risk profiles.

Bitsight's operations in Israel are rooted in the 2021 acquisition of VisibleRisk. The acquisition served as the foundation for a local R&D presence in the Tel Aviv area, closely tied to the original Team8-backed engineering organization. The local team focuses primarily on cyber risk quantification products.