Moody's Investors Service

The latest line of defense against rising cyber attacks

Cyber Insurance

SecurityScorecard offers a SaaS platform that monitors and rates cybersecurity posture by identifying security vulnerabilities on a company’s digital assets. Enterprises are rated based on 10 risk attributes—domain name system (DNS) health, endpoint security, availability of leaked data, cubit score, web application security, network security, IP reputation, underground hacker chatter, patching cadence, and social engineering attacks. Security Scorecard’s platform is used in industries such as insurance, financial services, healthcare, technology, and government.By February 2022, SecurityScorecard had rated over 12 million companies and these ratings were utilized by more than 30,000 organizations for cyber insurance underwriting, cyber risk, and third-party risk management as well as to monitor and identify risks in real-time. These organizations included insurance carriers, reinsurers, brokers, and risk managers. At the moment, companies such as AXA, Liberty Mutual, and Great American Insurance Group are among the insurers who use the company’s platform.In April 2023, <a href="https://sp-edge.com/updates/18005">Security Scorecard launched a generative AI cyber security ratings platform</a>, which provides conversational assistance on cyber risk. The platform was developed by SecurityScoredcard’s innovation incubator firm ScorecardX, and is based on OpenAI’s GPT-4 large language model (LLM).SecurityScorecard acquired the digital forensics and incident response services company LIFARS in February 2022. LIFARS provides solutions such as digital forensic investigations, incident response, data breach response, ransomware response, managed detection and response (MDR), and cyber resiliency services. The acquisition of LIFARS and its cybersecurity team created a new digital forensics and incident response (DFIR) services practice within SecurityScorecard's Professional Services group, which will complement SecurityScorecard’s third-party risk management (TPRM) advisory services and cybersecurity intelligence services. LIFARS’ in-house threat intelligence, data collection, and post-breach response capabilities were also to be integrated with SecurityScorecard’s platform.Key customers and partnershipsThe company <a href="https://sp-edge.com/updates/21924">partnered</a> with Measured Insurance in September 2023 to offer the latter’s cyber insurance customers incentives on their policy premiums based on cyber risk posture assessments conducted by SecurityScorecard.Funding and financialsIn SecurityScorecard’s last funding round (Series E in March 2021), it raised USD 180 million at a valuation of nearly USD 1 billion. The round was led by investors such as Silver Lake Waterman, and the company expected to use the funds for global expansion and launching new product lines and innovations.In 2021, SecurityScorecard recorded a 116% increase in net customer retention and over 100% growth in international sales. The company also partnered with the Retail &amp; Hospitality Information Sharing and Analysis Center (RH-ISAC) to offer complimentary platform access to RH-ISAC members.

BitSight offers a data-driven security rating system for financial services, retail, manufacturing, telecom, and cyber insurance companies. BitSight’s risk rating system is backed by a company’s historical data as well as industry benchmarks. The platform collects data from over 260 billion cyber events daily from 120 data sources. In the areas of cyber insurance, it allows insurers to determine the rate of premiums while also enabling the continuous monitoring of security posture during the coverage period. BitSight also offers cyber risk modeling services, helping businesses financially quantify enterprise cyber risk.In September 2021, BitSight acquired VisibleRisk, a cyber risk rating startup created by the credit ratings agency Moody’s Corporation and the venture capital firm Team8. BitSight integrated VisibleRisk’s cyber risk assessment capability to enhance its Financial Quantification tool to better estimate the financial exposure of an organization to cyber risk. Following the acquisition, BitSight was to set up a Risk Solutions Division that focuses on cybersecurity insights for the board of directors and C-suite executives.In August 2022, the company <a href="https://sp-edge.com/updates/12196">acquired </a>the third-party risk management startup, ThirdPartyTrust. ThirdPartyTrust was integrated into BitSight’s existing TPRM solutions to deliver real-time insights throughout the entire third-party lifecycle and extended supply chain.Key customers and partnershipsBy July 2021, the company had analyzed the security ratings of over 27,000 companies. During that period, the company claimed that 50% of all cyber insurance policies underwritten globally were by its customers and 20% of governments worldwide use BitSight data for national security. Overall, the company had over 2,300 customers globally and an employee headcount of 500 as of September 2021.Bitsight announced an <a href="https://sp-edge.com/updates/17887">expanded partnership with Moody’s Analytics </a>in April 2023, providing analysts with enhanced insights, and making Bitsight’s analytics available through Moody’s BVD Orbis database. The firm also added a response function to its TPRM platform.Funding and financialsIn conjunction with the acquisition of VisibleRisk in September 2021, BitSight also secured USD 250 million in funding from Moody’s at a valuation of USD 2.4 billion. The company utilized the funds to pursue growth and further enhance its product offerings and capabilities.

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

SecurityScorecard offers a platform that monitors and rates the cybersecurity posture of an organization by identifying security vulnerabilities in a company’s digital assets. These ratings are based on risk attributes of a company including attributes such as domain name system (DNS) health, endpoint security, availability of leaked data, cubit score, etc. By February 2022, the company claimed that it had rated over 12 million companies. These ratings were used by more than 30,000 organizations for cyber insurance underwriting, cyber risk, and third-party risk management as well as to monitor and identify risks in real time. These organizations included insurance carriers, reinsurers, brokers, and risk managers.In February 2022, the company expanded its presence in the cybersecurity space by acquiring digital forensics and incident response services company LIFARS. The acquisition created a new digital forensics and incident response (DFIR) services practice within SecurityScorecard's Professional Services group, which complements its third-party risk management (TPRM) advisory services and cybersecurity intelligence services and provides a 360-degree approach to security prevention and response. LIFARS’ in-house threat intelligence, data collection, and post-breach response capabilities were also to be integrated with SecurityScorecard’s platform.In April 2023, <a href="https://sp-edge.com/updates/18005">Security Scorecard launched a generative AI cyber security ratings platform </a>, which provides conversational assistance on cyber risk. In August 2023, the company <a href="https://sp-edge.com/updates/20784">launched a new managed cyber risk service </a>designed to help businesses implement third-party risk management controls. The service is linked to SecurityScorecard’s platform and offers API connectivity for integration into security stacks.Key customers and partnershipsAs of April 2024, companies such as AXA, Liberty Mutual, and Great American Insurance Group were using the company’s platform. The company also claimed that by the end of 2023 it had 2,600 customers and 70,000 organizations using the platform.In August 2024, SecurityScorecard and Reco, a SaaS security platform, <a href="https://sp-edge.com/updates/32702">announced</a> a strategic partnership to improve organizations' ability to identify and manage risks associated with third-party SaaS applications. The partnership combined Reco's inside-out view of an organization's SaaS ecosystem risks with SecurityScorecard's outside-in perspective on SaaS vendor risk profiles. This integration offers customers a comprehensive 360-degree risk assessment within Reco's platform, incorporating SecurityScorecard's Cyber Ratings for each discovered SaaS app vendor.

BitSight offers a data-driven security rating system for financial services, retail, manufacturing, telecom, and cyber insurance companies. BitSight’s risk rating system is backed by the company’s historical data as well as industry benchmarks. The company claims that, while having over 44 trillion raw events collected, the platform continues to process over 400 billion events daily. The data is used to rate over 40 million companies worldwide. BitSight also offers cyber risk modeling services, helping businesses financially quantify enterprise cyber risk. In terms of supply chain risk management, the platform facilitates the evaluation and onboarding of new vendors, enables continuous monitoring of vendor portfolios and their ecosystems, and assists in triaging associated risks in collaboration with vendors.In September 2021, BitSight acquired VisibleRisk, a cyber risk rating startup created by the credit ratings agency Moody’s Corporation and the venture capital firm Team8. BitSight integrated VisibleRisk’s cyber risk assessment capability to enhance its financial quantification tool to better estimate the financial exposure of an organization to cyber risk. Following the acquisition, BitSight was to set up a Risk Solutions Division that focuses on cybersecurity insights for the board of directors and C-suite executives.In August 2022, the company <a href="https://sp-edge.com/updates/12196">acquired </a>the third-party risk management startup ThirdPartyTrust, which was integrated into BitSight’s existing TPRM solutions to deliver real-time insights throughout the entire third-party lifecycle and extended supply chain.In August 2024, Bitsight has <a href="https://sp-edge.com/updates/32956">unveiled</a> new asset mapping capabilities to help organizations better manage vulnerabilities across their extended attack surface. Originally launched for AWS, the company's Cloud Infrastructure Sync (CloudSync) feature was redesigned and extended to include Microsoft Azure and Google Cloud Platform. It also introduced new AI models within its Graph of Internet Assets (GIA) technology. These models map discovered assets to specific entities, which are then prioritized and hand-curated by Bitsight's research team.Earlier In July 2024, the company also <a href="https://sp-edge.com/updates/32048">launched</a> the Trust Management Hub, a solution for centralizing security documents and questionnaires for assessments. The solution aims to accelerate the sales cycle by improving the security assessment process, with early customers reporting an 85% faster process and a 25% workload reduction.Key customers and partnershipsBy July 2021, the company claimed that it had analyzed the security ratings of over 27,000 companies. During that period, the company claimed that 50% of all cyber insurance policies underwritten globally were by its customers. Overall, the company had over 2,300 customers globally and an employee headcount of 500, as of September 2021.In June 2024, Bitsight <a href="https://sp-edge.com/updates/30430">partnered </a>with AmiViz, a Middle Eastern B2B enterprise marketplace, to boost cybersecurity capabilities in the region. The collaboration aims to leverage AmiViz's local market knowledge and Bitsight's advanced expertise to offer cybersecurity solutions specific to the demands and challenges of Middle Eastern businesses. The partnership also signifies Bitsight's intent to expand in the Middle Eastern market. Earlier in April 2023, Bitsight announced an <a href="https://sp-edge.com/updates/17887">expanded partnership with Moody’s Analytics </a>to provide services as a cyber risk analytics provider, enabling Moody’s analysts to provide enhanced insights through new integrations.

AI-based solutions for evolving digital threats

Next-gen Cybersecurity

<div>
 
 SecurityScorecard offers a SaaS platform that monitors the cybersecurity posture of an organization and rates it by identifying security vulnerabilities on the digital assets. It expanded its presence in the cybersecurity space by acquiring digital forensics and incident response services company LIFARS, in February 2022. LIFARS provides solutions such as digital forensic investigations, incident response, data breach response, ransomware response, managed detection and response (MDR), and cyber resiliency services, to protect organizations from hackers and advanced persistent threat actors. The company offers remote cyber incident response and MDR services by deploying a response team called LISIRT.
 
 
 The acquisition of LIFARS and its cybersecurity team created a new digital forensics and incident response (DFIR) services practice within SecurityScorecard's Professional Services group, which complements SecurityScorecard&rsquo;s third-party risk management (TPRM) advisory services and cybersecurity intelligence services, and provides a 360-degree approach into security prevention and response. LIFARS&rsquo; in-house threat intelligence, data collection, and post-breach response capabilities were also to be integrated with SecurityScorecard&rsquo;s platform.
 
 
 The company&rsquo;s platform is used in industries such as insurance, financial services, healthcare, technology, and government. Notable customers include AXA, Cadence Bank, Liberty Mutual Insurance, Maximus, Nokia, Virgin Pulse, Horizon Media, and Great American Insurance Group.
 
 
 In 2021, SecurityScorecard recorded a 116% increase in net customer retention and over 100% growth in international sales.
 
 
 In SecurityScorecard&rsquo;s last funding round (Series E in March 2021), it raised USD 180 million at a valuation of nearly USD 1 billion. The round was led by investors such as Silver Lake Waterman, and the company expected to use the funds for global expansion and to launch new product lines and innovations.
 
</div>

Digitizing the commercial real estate value chain

Commercial PropTech

CompStak is a leading commercial real estate data and analytics platform that provides crowdsourced lease and sale transaction data along with property information. The company operates an intuitive platform that offers sophisticated mapping tools, custom reports, and analytical capabilities to extract valuable insights from its vast database. CompStak gathers and verifies deal data directly from commercial real estate professionals working at brokerages and appraisal firms nationwide, ensuring the reliability of its information.
As of December 2022, CompStak had over 35,000 members contributing data to its platform and a team of experienced data scientists responsible for validating the accuracy of lease and sale comparables. The company's database encompasses over 4 million comps and 1.7 million properties across the US. CompStak's product offerings enable rapid access to new opportunities, detailed insights into market conditions, and the ability to accurately mark properties to market.
In December 2022, CompStak relocated its New York City headquarters to a larger 25,644 square-foot office space at 675 Avenue of the Americas, more than doubling its NYC footprint. This move was driven by the company's rapid team growth, fueled by increased adoption of its data products and a USD 50 million Series C funding round in the previous year. CompStak has also expanded its office presence in other cities like Belgrade, Los Angeles, Chicago, and Atlanta over the past 12 months.

MioTech is an artificial intelligence platform that empowers investment managers to better serve their clients in a world of complex data. By integrating and analyzing data from all types of sources, MioTech streamlines the entire investment process, creating an ultimate data-driven investing experience. MioTech has offices in Shanghai and Hong Kong. MioTech is backed by Horizons Ventures, ZhenFund, and prestigious individual investors around the world.

Created in July 2013 by two ambitious and passionate entrepreneurs, QuantCube Technology was born out of a desire to use to the fullest extent the potential and the new opportunities offered by Artificial Intelligence and Big Data. What was at the beginning a Fintech startup focusing on the development of the next generation of investment strategies rapidly became over the past six years a cross-sectoral R&D company whose purpose is to create value from all types of data, while being at the forefront of innovation and advocating for an ethical use of the data. While looking at the future of Analytics, they are always keen to take on new challenges, as they did when they decided a couple of years ago to extend their analytics to the Space industry for example.

Octaura is an electronic trading solution created by the industry – for the industry. Backed by eight major US financial institutions, Octaura has reimagined the way the syndicated loan and the CLO markets trade. Efficiency, transparency and simplicity are at the heart of what we do.

Founded in 2011, BitSight transforms how organizations manage information security risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Organizations worldwide, including seven of the top 10 cyber insurers, 20% of Fortune 500 companies, and 3 of the top 5 investment banks use BitSight’s proven Security Ratings technology on a daily basis to make integral risk and business decisions. With over 1,000 customers and the largest ecosystem of users and information, BitSight is the most widely used Security Ratings Service. For more information, please visit www.bitsighttech.com or follow @BitSight on Twitter.

Manage your cyber risk, as clearly as financial risk VisibleRisk – a joint venture between Moody’s and Team8 – equips business leaders to understand, manage and communicate cyber risk in financial terms.

MARC provides credit ratings and research on issuers of commercial papers, bonds, long-/short-term debts, and preferred shares, as well as asset-backed securities. MARC also offers industry analyses, rating reports, and rating indices for issuers and investors locally and globally.

Quipu is building the first digital bank for the informal economy in LATAM. Using proprietary AI algorithms, Quipu assesses informal microbusinesses’ creditworthiness using over 80,000 alternative data points. Quipu leverages this data to provide working capital loans through a local supply chain financing system that allows microbusinesses to buy supplies, ingredients and materials at wholesale price. The company is building an uncollateralized loan protocol to boost their loan operation. Quipu’s goal is to become the one-stop-shop for financial services for micro-businesses in LATAM providing easy, fair and alternative access to working capital.

STGF provides ESG data and ratings, green bond verification, and green finance solutions to financial institutions and corporates in China.

Rockport VAL LLC is a provider of cloud-based commercial real estate (CRE) valuation and cash flow modeling tools. VAL is a customer-driven technology company, with an industry-driven solution that is set to equip the fast-paced world of underwriting and valuations with a modern and reliable tool.

CompStak uses a crowd-sourced model to gather real estate information for investors, brokers, asset managers, and appraisers. CompStak's wedge into the market is a platform for the exchange of commercial lease comps. Brokers, landlords, appraiser, and researchers use their site and submit comps on completed commercial lease transactions.  It was founded in 2011 and headquartered in New York, United States.

SecurityScorecard is a global leader in cybersecurity ratings and the only service with over a million companies continuously rated. Founded in 2013 by security and risk experts Dr. Alex Yampolskiy and Sam Kassoumeh, SecurityScorecard’s patented rating technology is used by over 1,000 organizations for self-monitoring, third-party risk management, board reporting, and cyber insurance underwriting; making all organizations more resilient by allowing them to easily find and fix cybersecurity risks across their externally facing digital footprint. SecurityScorecard is the only provider of instant risk ratings that automatically map to vendor cybersecurity questionnaire responses - providing a true 360-degree view of risk. SecurityScorecard continues to make the world a safer place by transforming the way companies understand, improve, and communicate cybersecurity risk to their boards, employees, and vendors.

Finagraph provides best-in-class financial intelligence on demand for lenders, accountants, consultants and business owners.   By linking directly into business accounting systems, Finagraph instantly provides visual insights and pinpoints performance indicators – saving you time and money.

Moody's Investors Service is a bond credit rating business that provides research, credit rating, and financial risk analysis services.  The company’s ratings and analysis track debt that covers various countries, corporate issuers, public finance issuers, and structured finance obligations.  Additionally, the company also offers predictive ratings, research and investor briefings, pricing and valuation tools, and credit opinions.  The company’s primary goal is to help investors analyze the credit risks associated with fixed-income securities. Moody’s Investor Service rates debt securities in several market segments related to public and commercial securities in the bond market. These include government, municipal and corporate bonds; managed investments such as money market funds, fixed-income funds, and hedge funds; financial institutions that include banks and non-bank finance companies; and asset classes in structured finance. Considered one of the Big Three credit rating agencies, Moody’s Investor Service employs approximately 6,100 people worldwide and maintains a presence in 28 countries. Moody’s Investor Service was founded by John Moody in 1999 and is headquartered in New York City, United States.

Banco BPM, Moody's Investors Service confirms ratings

Moody’s

Providing AI-driven market intelligence and workflow automation to give firms an edge

Capital Markets Tech

Platforms that help financial market participants collect, manage, and use traditional and alternative data, derive market insights from news, and provide trade signals to make informed decisions.

Platforms that help institutions such as asset managers, investment banks, and hedge funds to develop platforms to trade and operate brokerage services for various financial assets and instruments such as stocks, fixed income securities, derivatives, commodities, and foreign currencies.

Companies that use blockchain technology to share and synchronize data and improve efficiency across the trading workflow and post-trade actions such as clearing and settlement.

Platforms that help companies meet anti-money laundering requirements and provide identity verification tools such as KYC checks.

These platforms provide services such as risk detection, regulatory compliance, risk management, risk intelligence, collateral management, internal processes management, and strengthening of internal controls.

Companies that use GenAI as a core part of their product offering for capital markets

Climate Risk Analytics

Forecasts weather for up to 14 days by using AI/ ML solutions

Forecasts weather for up to 14 days by using other next-generation solutions

Forecasts long-term climate risks (for up to ~50-80 years into the future) by using AI/ ML solutions

Forecasts long-term climate risks (for up to ~50-80 years into the future) by using other next-generation solutions

Provides long-term climate risk analytics to cover the gap in traditional insurance products

Provides climate risk scores for third-parties

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