BitSight Achieves Significant Global Channel Momentum as Demand for Security Rating Services Accelerates

CAMBRIDGE, Mass., Nov. 16, 2017 /PRNewswire/ -- BitSight, the Standard in Security Ratings, today announced accelerated momentum for its Global Channel Program. In addition to technology and strategic partners, BitSight now has more than 120 partners across the globe, including value-added resellers, referral partners and consulting partners, who work with customers to understand their security posture, as well as how to incorporate BitSight Security Ratings into their larger security and risk management strategy.

BitSight pioneered the Security Rating Services market in 2011 and transforms how companies manage third and fourth party risk, underwrite cyber insurance policies, benchmark security performance, and assess aggregate risk. The BitSight Security Ratings Platform generates daily, objective, outside-in ratings on companies' security performance ranging from 250 to 900, where higher ratings equate to lower risk.

"We are seeing phenomenal growth in channel-driven business as our partners experience BitSight's value and the opportunity to extend their own services and consulting alongside our platform," said Carla Morss, senior director of worldwide partner sales and alliances, of BitSight. "We are committed to building strong channel and partner relationships across the globe, supporting our partners with specialized training and support, and financial incentives, including attractive margins and marketing development fund programs."

Global Channel Program Highlights

• Revenue from the channel has increased more than 100 percent year-over-year since program creation in 2014 and is expected to account for half of all revenue by the end of 2017.
• Increased number of global partnerships by 120 percent in the last 18 months. New partners include Telefónica, Portugal Telecom, Protea, World Wide Technology, ePlus and more.
• Continued commitment to the success of the program with five-fold expansion of BitSight's dedicated channel team in the last two years.
• Carla Morss again recognized by CRN in 2017 Women of the Channel list.

Partner Quotes

"Third-party risk programs are a critical component to any comprehensive security program, but they can be complex and costly to plan, develop and manage. Organizations need help making clarity of out of the chaos caused by managing hundreds or even thousands of partners, vendors and suppliers. The combination of Optiv Evantix with BitSight offers organizations a 360-degree view of their third-party risk while providing actionable intelligence to make more informed and cost-effective decisions related to outside entities with which they do business."

-- James Christiansen, vice president of information risk management, Optiv

"Understanding and mitigating cybersecurity and third party risks is a top priority for firms globally. New regulatory requirements including the New York Department of Cybersecurity Regulation and the impending General Data Protection Regulation continue to elevate the importance of greater due diligence at the board level. With KY3P for third party risk management and BitSight's security rating capabilities, we are providing a holistic solution to monitor, track and quickly remediate any major security issues that arise."

-- Ellen Schubert, CEO of KY3P at IHS Markit

"In Europe, the actions of cyber criminals & stringent regulations such as GDPR are increasing the attention to cyber security from every type of organization.  Investing in cyber security is no longer an option, it is a necessity; CEOs and Boards of Directors want to know exactly how their companies plan to mitigate risk. That is one of the major reasons for the success of BitSight, which is considered a tool that any CISO must have to succeed. Our customers are not just happy about BitSight, they are enthusiastic."

-- Walter Marmo, President and CEO at Eurosel

For more information on the BitSight Partner Program, visit https://partners.bitsighttech.com.

About BitSight
BitSight is transforming how companies manage information security risk with trusted, time-tested and actionable security ratings. Founded in 2011, the company built its Security Ratings Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 80 Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.

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SOURCE BitSight Technologies