CORRECTING and REPLACING: CYGNVS™ Launches First-Ever Guided Platform for Cyber Crisis Preparedness and Response Management
Eighth paragraph, first sentence of release should read: With CYGNVS, organizations can quickly assemble everyone contributing to the cyber crisis response in a safe, secure environment out of band from internal channels (instead of With CYGNVS, organizations can quickly assemble everyone contributing to the cyber crisis response in a safe, secure environment out of bank from internal channels).
The updated release reads:
CYGNVS™ LAUNCHES FIRST-EVER GUIDED PLATFORM FOR CYBER CRISIS PREPAREDNESS AND RESPONSE MANAGEMENT
With 1000 clients already on the platform, CYGNVS™ to scale operations backed by $55M Series A funding
CYGNVS Inc. today emerged from stealth backed by $55 million in series A funding and unveiled its pioneering guided cyber crisis platform purpose-built to empower organizations to stay Connected, Confident, in Control and Compliant as they prepare for and respond to any cyber crisis.
“No matter how much is spent on cybersecurity, cyber crises are inevitable and every organization in the world needs to prepare and plan for that eventuality,” said Marc Goodman, global security advisor and The New York Times bestselling author of “Future Crimes.” “Successful response is surprisingly complex, and most victims fail because they try to cobble together their response at that time. Being prepared and having a practiced plan is critical to any organization’s cyber resilience."
When a cyber crisis does occur, preparation and practice can make a big difference. From data in The Cost of Data Breach Report 2022, organizations that are better prepared and practiced save an average of $1.38 million in direct costs.
CYGNVS (an acronym of CYber GuidaNce Virtual Space) empowers organizations to reduce their risk before a cyber crisis through preparation and practice and then reduce cost and impact of a cyber crisis with a guided, accelerated response.
Partnering With Insurance
Just as the insurance industry helped drive adoption of building sprinkler systems, which greatly reduced fire risk, the cyber insurance industry has deep expertise in cyber crisis preparation and response.
CYGNVS has partnered with AIG, a leading worldwide provider of cyber insurance. After responding to thousands of cyber breaches, AIG identified various critical challenges to optimize breach response, such as a client’s visibility into the entire end-to-end response process, secure post-event communications, and working effectively and consistently with external response providers including breach counsel and forensic consultants. AIG helped CYGNVS develop the requirements by providing guidance based on AIG’s experience, expertise and thought leadership in cyber claim resolutions, enabling CYGNVS to develop a robust platform to address the problems of organizations worldwide.
Today, CYGNVS insurance customers together represent half the cyber insurance market and CYGNVS is being rolled out to clients by leading insurers and brokers complementing their cyber insurance policies.
Back To Business, Faster
With CYGNVS, organizations can quickly assemble everyone contributing to the cyber crisis response in a safe, secure environment out of band from internal channels. The platform converts static breach response plans into interactive and actionable processes and checklists. Internal teams and outside experts can be assigned roles and responsibilities, tasks are communicated in a digestible fashion and plans and workstreams can be easily and quickly updated as people, assets, regulations and threats change.
“CYGNVS was founded with the mission of making the world’s organizations lower their cyber risk by addressing the critical areas of preparation and response. We purpose-built CYGNVS as a guided cyber crisis platform to empower organizations to be Connected, Confident, in Control and Compliant before, during, and after a cyber crisis,” said Arvind Parthasarathi, Founder and CEO of CYGNVS.
- Out-of-band, Secure, Mobile
- Accessible Anytime, Anywhere – mobile apps for iOS/Android and all browsers
- Pre-setup, Pre-configured and Ready-to-go
- Rapidly assemble team, assign roles, and initiate response
- Pre-built playbooks and Industry Templates
- Rapidly plug in ecosystem of already onboarded external experts like lawyers, forensics, insurance
- Practice and Simulate to build muscle memory
- Guided workflow supports new or inexperienced team members
- Guided, step-by-step, response execution
- Single Unified Command Center
- Visibility, Tracking, Alerts across Workstreams
- Ensure all required steps are performed with no missteps
- Fine grained access control across internal and external teams
- Help maintain privilege by managing information access
- Audit trail of documented evidence
- Simplify reporting to Regulators, Customers, and other stakeholders
CYGNVS is SOC2 Type 2 certified and ISO 27001 compliant and has been built from the ground up with industry-leading security standards, including multi-factor authentication (MFA), encrypting all data in transit and at rest, and separation and isolation best practices.
$55 million Series A Funding Round
Led by Andreessen Horowitz, with participation from Stone Point Ventures and EOS Venture Partners, CYGNVS will use the series A funding to further enhance the platform while expanding sales operations.
"Traditional multi-tenant cloud architectures don't work for the complex access and security challenges in a cyber crisis preparation and response," said Angela Strange, General Partner, Andreessen Horowitz. "The experienced cloud and security team at CYGNVS has built a robust end-to-end cyber crisis operating system from the ground up for successful crisis preparation and response."
CYGNVS is now generally available across all segments and offered in English, French, Spanish, German, and Japanese. CYGNVS can be purchased direct or accessed as a no-cost benefit of cyber insurance policies from leading insurers and brokers. To learn more or schedule a demo, visit www.CYGNVS.com.
About CYGNVS Inc.
CYGNVS is a guided cyber crisis response platform purpose-built to empower organizations to be Connected, Confident, in Control and Compliant before, during and after a cyber crisis. Backed by a $55 million series A round from Andreessen Horowitz, Stone Point Ventures, and EOS Venture Partners, CYGNVS is headquartered in Silicon Valley, with offices in Canada, India, and Ireland. For more information, visit www.CYGNVS.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Aspen Appoints Mike Duffy To U.K. Boards30.1.2023 18:16:00 EET | Press release
Aspen Insurance Holdings Limited (“Aspen”) is pleased to announce that Mike Duffy has been appointed to the Aspen Managing Agency Limited (“AMAL”) and Aspen Insurance UK Limited (“AIUK”) Boards as a Non-Executive Director, effective February 1, 2023. Mike will join the AMAL and AIUK (together, “Aspen U.K.”) Boards as Senior Independent Non-Executive Director (“SID”), Chair of the Nominations Committee, and Chair of the Governance Committee, subject to regulatory approval. Mike is a vastly experienced and highly respected leader in the Lloyd’s market with a 40-year career across underwriting and broking. He was most recently Group Chief Underwriting Officer for Canopius, where he held several Board roles across the Canopius corporate group of entities. In addition, he has held numerous leadership positions across a range of broking and insurance groups. During his extensive career, Mike has gained significant risk, governance, transaction and regulatory experience across the U.K., U.S.,
Planview Continues Acceleration with Record Revenue in FY’2230.1.2023 17:00:00 EET | Press release
Planview, the leading platform for connected work from portfolio planning to delivery, today announced record annual recurring revenue (ARR) for fiscal year 2022, continuing a trend of strong performance. Planview exceeded $380 million in total ARR for 2022, representing 17% growth year-over-year (YoY). “It was another record year for Planview, underpinned by our commitment to build the digital future of connected work through product innovation and customer success,” said Razat Gaurav, Chief Executive Officer, Planview. “The macroeconomic uncertainties and headwinds faced by organizations today make prioritizing product and project initiatives, and thoughtfully allocating constrained resources and capital, more important than ever. Our global customer base relies on our solutions to help them achieve productivity, efficiency, and positive business outcomes from transformation initiatives across the enterprise.” Fiscal Year-End Highlights Planview achieved record levels for the full fi
Owlin Launches End-to-End KYC Solution for Payment Service Providers30.1.2023 15:30:00 EET | Press release
Today, AI platform Owlin announced the launch of Owlin for KYC, offering Payment Service Providers (PSPs) a single solution for onboarding, monitoring, and offboarding merchants. With this new solution, Owlin helps PSPs with some of their most pressing priorities around meeting recent regulatory requirements and dealing with the insecurities that come from current economic developments. Owlin for KYC enables PSPs to screen their merchants against multiple data sources, including Adverse Media, Sanctions, Politically Exposed Persons, and Customer Reviews. This latest offering from Owlin will significantly enhance KYC processes, particularly when PSPs manually screen merchants against different data sources to check for risk within their merchant portfolio. Owlin for KYC supports seamless transition from the onboarding phase to continuous monitoring, with all data associated with the onboarding and monitoring steps being retained and available as an end-to-end audit trail. Sarah Lane, Ch
Samsung Electronics Achieves Life Cycle Assessment Verification on Product Carbon Footprint for Semiconductors30.1.2023 12:37:00 EET | Press release
Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today announced that it has established a Life Cycle Assessment (LCA) on the product carbon footprint of its semiconductor business and achieved verification from DNV, one of the world's leading independent certification bodies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230130005256/en/ Samsung Electronics Achieves Life Cycle Assessment Verification on Product Carbon Footprint for Semiconductors (Photo: Business Wire) LCA is a methodology for assessing environmental impacts throughout the lifecycle of commercial products, processes, or services, by quantifying the amount of energy, materials and waste discharge. In detail, on its semiconductors’ carbon footprint, Samsung's LCA covers raw material extraction to chip manufacturing, assembling, and testing. Its results are in accordance with ISO 14040, ISO 14044 and ISO 14067 to ensure cred
FourKites & cargonerds Partner to Bring Enhanced Cost & Time Savings to Global Freight Forwarders & Shippers30.1.2023 12:00:00 EET | Press release
Leading real-time supply chain visibility company FourKites today announces a partnership with cargonerds to enhance the digital freight platform with its market-leading supply chain visibility data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230130005027/en/ FourKites & cargonerds partner to bring enhanced cost and time savings to global freight forwarders and shippers (Graphic: Business Wire) Armed with FourKites’ data and machine learning-driven estimated times of arrival, cargonerds can now ensure that its freight forwarders and their customers can track products across the end-to-end supply chain and know exactly when they’ll arrive at their destination. The integrated solution will track global shipments in real time across road, rail, ocean, air, parcel and last mile across the globe. “FourKites has the largest global network of supply chain data and powerful machine learning on the planet,” says Conrad Franchi, f
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom