Key Takeaways
- Security posture management firm reports doubling of revenue, earning recognition as one of the UK’s fastest-growing tech companies
- Company’s Continuous Controls Monitoring (CCM) technology drives success by managing risk, security posture, and empowering CISOs
- Solutions address rising cyber insurance premiums and adhere to new cybersecurity regulations
Pioneering Security Posture Management: Doubling Revenue and Raking in Awards
Panaseer, a leading cybersecurity firm, has made waves in the technology sector with its remarkable growth, nearly doubling its revenue in 2022. This success has not gone unnoticed, as the company has been recognized as a ‘cybersecurity start-up to watch’ by Sifted and earned a spot in Deloitte’s Top 50 Fastest Growing Technology Companies in the UK for 2022.
The company’s innovative approach to managing risk and security posture has resonated with customers, resulting in their rapid growth. Their Continuous Controls Monitoring (CCM) technology enables organizations to eradicate the failure of security controls, providing actionable insights and critical support to CISOs.
Addressing the Cyber Insurance Challenge
As cyber insurance premiums continue to rise, enterprises and the insurance industry are feeling the pressure. In 2022, 74% of insurers in the UK and US agreed that their inability to accurately understand a customer’s security posture was impacting price increases. Panaseer’s unique capabilities for cyber insurance reporting have addressed this issue, enabling customers to share detailed reports and dashboards about their security posture and cyber-attack surface with insurance providers.
In anticipation of forthcoming regulatory requirements such as the US SEC Cyber Reporting Requirements and EU’s Digital Operational Resilience Act (DORA), Panaseer has ensured their solutions will meet the demand for Continuous Controls Monitoring.
Innovations in Security Posture Management and Beyond
Panaseer has not only focused on revenue growth but also on product development and support for the cybersecurity industry. In 2022, the company strengthened its leadership team, improved platform performance with cloud-native architecture, and increased the self-service capability of the platform.
The company’s product team continues to push the boundaries of data-driven security insights, with future advancements enabling security leaders to:
- View data from all security tools for every asset
- Manage the business logic that describes how technical assets map to the business
- Control risks and improve remediation with enhanced metric performance notifications
- Drive accountability for security and risk by business owners
Commitment to Best Practice Guidance
Panaseer has actively contributed insights and best practice guidance to the cybersecurity industry throughout 2022. This includes providing guidance on the impact of end-of-life software on control status for the finance industry and publishing a report on the 18 benchmarks for organizations to prioritize for their cybersecurity objectives and standards. These efforts demonstrate Panaseer’s dedication to not only growing their own business but also supporting the cybersecurity industry as a whole.
For more information about Panaseer, visit their website.
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