UpGuard

UpGuard

Cybersecurity solutions for risk management

About UpGuard

Simplify's Rating
Why UpGuard is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Enterprise Software

Cybersecurity

Company Size

201-500

Company Stage

Series B

Total Funding

$44.7M

Headquarters

Mountain View, California

Founded

2012

Overview

UpGuard helps businesses manage and reduce risks related to their digital operations through its cybersecurity software solutions. Its main products include UpGuard CyberRisk, which evaluates a company's cybersecurity health and identifies vulnerabilities; UpGuard Vendor Risk, which assesses the security practices of third-party vendors; and UpGuard BreachSight, which monitors the internet for exposed data and potential breaches. Unlike many competitors, UpGuard offers a subscription-based model, allowing clients to access its services online without the need for installation. The goal of UpGuard is to provide essential tools that help organizations protect their data and comply with regulatory standards.

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Simplify's Take

What believers are saying

  • UpGuard is a leader in third-party risk management for eight consecutive quarters.
  • Growing demand for AI-driven cybersecurity solutions aligns with UpGuard's recent AI tool launches.
  • Increasing regulatory requirements drive demand for UpGuard's comprehensive cybersecurity solutions.

What critics are saying

  • Emerging competition from developer-focused platforms like Aikido challenges UpGuard's market share.
  • Rapid AI evolution in cybersecurity could diminish UpGuard's competitive edge.
  • New quantitative vulnerability scoring systems may pressure UpGuard to innovate its methodologies.

What makes UpGuard unique

  • UpGuard's CSTAR score integrates cybersecurity with corporate insurance policies.
  • UpGuard's AI tool streamlines security tasks for resource-limited teams.
  • UpGuard's SIG Lite questionnaire enhances vendor risk assessment efficiency.

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Funding

Total Funding

$44.7M

Below

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Free lunches and coffee

Gym reimbursement

Flexible work arrangements (work-from-home)

A 401(k) plan, health, dental, and vision benefits (US employees)

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

0%
Security Brief Asia
Nov 4th, 2024
UpGuard launches AI tool to streamline security tasks

UpGuard has introduced an enhanced AI-powered tool within its Trust Exchange platform, designed to streamline security questionnaire completion for resource-limited teams.

UpGuard
Jul 2nd, 2024
G2 Names UpGuard #1 TPRM Software - Summer 2024

The publication of G2's Summer 2024 report marks eight consecutive quarters were UpGuard was named a Category Leader.

PRWeb
May 21st, 2024
Upguard Announces Automated Scanning Enhancements And Executive Appointments To Further Support Security Teams With Cybersecurity Challenges

"2024 continues to be a pivotal year of investment for UpGuard," declared Mike Baukes, CEO and co-founder of UpGuard. "We take great pride in expanding our product capabilities, and the expertise of Fifita and Chuang has been vital as we've embarked on our next phase of growth." Post thisDetected Products expands UpGuard's scanning engine to automatically identify over 23,000 technologies and provides a 23% improvement in scanning year over year. The technologies this feature identifies include network devices, Javascript plugins, and hosting providers–all of which can pose significant security concerns that need to be addressed by an organization's TPRM program.EPSS is a public quantitative vulnerability score that uses data on actual vulnerability exploitations to derive risk and likelihood scores for known vulnerabilities. Compared to a common vulnerability scoring system (CVSS), a qualitative scoring system, EPSS is 10 times more efficient, harnessing the predictive power of its quantitative scoring method.By augmenting its suite of offerings with these cutting-edge enhancements, UpGuard reaffirms its unwavering commitment to alleviate the complexities of cybersecurity for security teams worldwide, tackling emerging challenges such as the prevalence of Shadow IT. As UpGuard forges ahead in its mission, it has also continued to appoint esteemed leaders to its executive team, ensuring the company is perpetually poised to drive innovation and resilience across the ever-evolving cybersecurity landscape.Mary Fifita joined UpGuard as Vice President of Corporate Development, harnessing her vast experience in corporate strategy, mergers and acquisitions, and business development. Fifita has already spearheaded strategic initiatives in her new role to accelerate growth, cultivate critical partnerships, and shape UpGuard's vision to expand its global presence.joined UpGuard as Vice President of Corporate Development, harnessing her vast experience in corporate strategy, mergers and acquisitions, and business development

TechCrunch
May 1st, 2024
Belgium’S Aikido Lands $17M Series A For Its ‘No Bs’ Security Platform Aimed At Developers

Developers have a problem. It used to be the case that only large enterprises needed to worry themselves with security, but today, every startup is capable of holding huge amounts of customer data. That means developers across the board have to worry about how secure their platform is, and they often find themselves grappling with complicated tools to manage security.Now, Aikido, a small startup in Ghent, Belgium, thinks it has an answer to that dilemma: A no-nonsense, open source, developer-facing security platform. And the startup has just raised a $17 million Series A to further build out its product.“There have been security tools for three decades, but I think we’re the first where the buyer is the user. With other tools, the CSO is the buyer, but then some poor developer is the user. We are the ‘no BS’ platform,” Aikido’s founder and CTO, Willem Delbare, told TechCrunch.He has a point.Aikido’s main competitors tend to make tools that are aimed at larger enterprises than the people who actually have to deploy the tools

UpGuard
Jan 18th, 2024
UpGuard Ranks #1 in G2 Winter 2024 Reports for Third Party and Supplier Risk Management

UpGuard, the third-party risk and attack surface management platform, has been recognized as the #1 Third Party and Supplier Risk Management software in G2's Winter 2024 reports, regaining its position as a leader in this category for the sixth consecutive quarter.

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