Cytegic
End-to-end Cyber-risk Management Solution
Company Overview
Snapshot
Founded in February 2012 by Elon Kaplan and Gerard Sabbah, Cytegic operated with 1–10 employees. The company secured funding across 3 rounds from 5 investors, raising a total of $12 million. A significant milestone for Cytegic was its acquisition by Mastercard in May 2020.
Business overview
Cytegic developed an end-to-end cyber-risk management solution that quantifies cyber risk at scale, aiming to reduce time and cost compared to traditional approaches. Its core offering, the Automated Cyber Risk Officer (ACRO), enabled business executives to optimize security spending between cyber-risk mitigation and cyber insurance. The company's patented Rapid Cyber Risk Quantification Platform provided validated data to assess and manage cyber risk, offering actionable insights into financial risk exposure, asset risk, and critical controls for various industries, including financial institutions, healthcare providers, and insurance companies.
Strategic signal
In September 2019, Cytegic launched an insurance group, signaling a strategic expansion into the cyber insurance market. This move allowed the company to leverage its cyber risk quantification platform to provide validated data for accurately assessing and managing cyber risk within the insurance sector, indicating a focus on new market opportunities and partnerships.
Log in to access full profile ›Company Intelligence Q&A
- When did Cytegic launch its insurance group?
- Cytegic launched its insurance group in September 2019, focusing on leveraging its cyber risk quantification platform for the insurance market.
- What strategic partnership did Cytegic announce in late 2019?
- In September 2019, Cytegic announced a strategic partnership with S-RM Intelligence and Risk Consulting to advance rapid cyber risk quantification.
- Which organization recognized Cytegic as a distinguished vendor?
- Cytegic was named a 2020 TAG Cyber Distinguished Vendor in September 2019.
- What partnership did Cytegic form in early 2020?
- In February 2020, Cytegic partnered with Lowers Risk Group to offer rapid cyber risk quantification technology and solutions for insurance and enterprise organizations.