CyberGRX Challenges Market to Take a United Approach to Third-Party Cyber Risk Management

Online Community and Newly Appointed Director of Third-Party
Development to Lead ‘We Are In this Together’ Mentality

DENVER–(BUSINESS WIRE)–CyberGRX,
provider of the world’s first global cyber risk exchange, today
announced an open online community dedicated to increasing cross
organizational collaboration between risk professionals and IT teams who
are struggling with the inefficiencies created by traditional and siloed
approaches to third-party cyber risk management. CyberGRX understands
that while the challenges third parties and their customers face may be
unique, their goals are the same – to create secure ecosystems that keep
their businesses running smoothly and effectively. The GRX Community
will connect these organizations and provide them with a forum to reach
across the aisle, share best practices and ultimately improve security
posture on the global stage. Now available to the public, third-party
vendors can sign up for the open community online
here.

As business ecosystems continue to evolve, organizations become more
interconnected. As a result, it is imperative that organizations work
together on risk management strategies that are scalable and effective
for both sides of the market, so they can generate collective and
actionable insights about where risk is being introduced, and how to
prioritize mitigation efforts. By breaking down barriers between third
parties and their customers, CyberGRX hopes to usher in a new “we are in
this together” mentality.

Roland Cloutier, Chief Security Officer at ADP®, shares, “It is very
exciting to see that CyberGRX is bringing an open community to the
marketplace so third parties and their customers from all over the world
can collaborate and work together to secure their digital ecosystems. By
creating the means with which to facilitate these discussions, the GRX
Community empowers organizations to improve their overall management of
third-party risk.”

In further support of the company’s commitment to bringing customers and
their third parties together, CyberGRX has appointed Jon Hesse their
Director of Third-Party Development. Hesse will be responsible for
breaking barriers between customers and their third parties in order to
stimulate transparency, accuracy and trusted commerce within third-party
cyber risk management. A member of the 1997 Super Bowl winning Denver
Broncos, Hesse is known for his ability to bring individuals together
towards a common goal and has decades of experience in leadership-driven
roles within the cybersecurity, oil & gas, energy & power, financial
services and IoT industries.

“Bringing common ground to an otherwise fragmented marketplace, the GRX
Community will empower all risk professionals to secure their business
ecosystems by sharing dynamic risk data and generating insights,” said
Hesse. “Virtually all organizations can be considered another’s third
party – it is time to deploy a collaborative and dynamic assessment
approach that saves time and money across the board.”

CEO, Fred Kneip, adds, “CyberGRX is very proud to announce our
third-party community and Jon’s addition to our team. Managing
third-party cyber risk is a challenge that faces all organizations
regardless of size or industry, but competing security initiatives often
take priority. We believe that by uniting companies with the tools and
knowledge necessary to answer the collective fight against cyber
threats, all will be made stronger and more resilient.”

CyberGRX believes that the best way to improve third-party cyber risk
management is to move beyond traditional or singular methods, and
instead take a modern approach that leverages dynamic data and
collaborative practices to work towards securing the shared ecosystem.
The GRX Community is a place for organizations to come together online
and source valuable intelligence on the most efficient ways to navigate
third-party cyber risk management. The community will ensure
confidential dialogue and strengthen relationships between companies
across the globe in order to initiate positive conversations about the
evolving requirements of managing third-party cyber risk from all
vantage points.

CyberGRX will be attending the Third-Party
Risk Management and Oversight for Financial Services Conference to
be held in New York City from November 13-14, 2018. Contact the team here.

About CyberGRX

CyberGRX provides enterprises and their third parties with the most
cost-effective and scalable approach to third-party cyber risk
management today. Built on the market’s first third-party cyber risk
Exchange, CyberGRX arms organizations with a dynamic stream of third
party-data and advanced analytics helping organizations efficiently
manage, monitor and mitigate risk in their partner ecosystems. Based in
Denver, CO, CyberGRX was designed with partners including Aetna,
Blackstone and MassMutual, and is backed by Allegis Capital, Bessemer
Venture Partners, Blackstone, ClearSky, GV (formerly Google Ventures),
MassMutual Ventures, Rally Ventures and TenEleven Ventures. For more
information, visit www.cybergrx.com or
follow @CyberGRX on
Twitter.

Contacts

CyberGRX
Allison Arvanitis, 910-690-9482
allison@golaunchtech.com