Prevalent Doubles Down on Third-Party Risk with New Funding, Enhanced Threat Monitoring
Report by Garrett Bekker, Senior Analyst in Enterprise Security at 451 Research | When we last wrote about Prevalent, we highlighted the company as one of the few vendors focused exclusively on the growing problem of managing third-party vendor risk. Since then, we’ve witnessed multiple high-profile data breaches, many of which have exploited third-party relationships, as well as new and extended regulations at both the industry and state levels that have strengthened their requirements for addressing the risks that outside parties may pose.
Prevalent has been hard at work over the last year strengthening its claim to be the leader in third-party risk management. It’s raised $4m in growth equity capital, made significant additions to its management team and added numerous product upgrades, including enhanced analytics and reporting, purpose-built vendor risk dashboards and wove threat intelligence more tightly with its vendor assessment module. Prevalent has also made significant upgrades to its vendor threat monitoring offering to help its customers get a better handle on the potential risk exposure of new vendors prior to onboarding them and conducting a formal risk assessment.
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