Bitsight has announced strategic investment plans to broaden its third-party risk management services in Europe. The company offers a comprehensive solution to manage the supplier lifecycle and extended supply chain.

As a part of its expansion, Bitsight aims to help businesses comply with the NIS2 Directive requirements and manage exposure risk within the digital supply chain, which has become a complex and challenging task due to recent cybersecurity legislation.

Analyst QuickTake: Recently, Bitsight has been focused on strengthening its product portfolio. Earlier this year, the company launched the AI-powered Discovery and Attribution Engine for risk assessment, launched a new solution for managing third-party risk; and introduced new solutions to detect and mitigate hidden risks from third-party vendors. With expansion plans, the company seems focused on leveraging this suite of solutions to penetrate the market.