Moody’s to Invest $250 Million in BitSight to Establish ‘Cybersecurity Risk Platform’

Moodys to Invest _250 Million in BitSight to Establish ‘Cybersecurity Risk Platform

Moody’s Corporation recently announced that it would invest in BitSight, a cybersecurity firm, and collaborate with it to develop a complete, integrated, and industry-leading cybersecurity risk platform. 

According to CNN, Moody’s will invest $250 million in BitSight, and the cybersecurity firm will acquire Moody’s cyber risk rating venture VisibleRisk, which they co-founded with global venture firm Team8.

In a statement, Moody’s CEO Rob Fauber stated that as enterprises continue to invest in cyber defense and resilience, they need a mechanism to precisely estimate and quantify cyber risk and exposure. Moreover, creating transparency and fostering trust is at the heart of Moody’s purpose.

To Read More: ZDNet

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