Company:UpGuard

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UpGuard
FormerlyScriptRock
TypePrivate
IndustryInformation Security
FounderAlan Sharp-Paul, Leo Venegas, Mike Baukes
Headquarters
Mountain View
,
United States
Key people
Mike Baukes, Alan Sharp-Paul
ProductsUpGuard BreachSight, UpGuard Vendor Risk, UpGuard CyberResearch
Number of employees
80 [1] (2018)
Websitewww.upguard.com

UpGuard Inc. is an information security company founded by Alan Sharp-Paul and Mike Baukes, and it is presently based in Sydney, Australia.[2] UpGuard is a cybersecurity platform that helps global organizations prevent data breaches, monitor third-party vendors, and improve their security posture. Using proprietary security ratings, data leak detection capabilities, and remediation workflows, UpGuard proactively identifies security exposures. In 2021, the company raised $19 million in a Series B-1 funding round, bringing the total funding to $45 million ($59 million AUD).[3]

History

UpGuard, formerly ScriptRock, is an United States information security company with offices in Mountain View, California, Sydney, Australia and Hobart, Australia.[4][5] While working at investment firm Colonial First State, company founders Leo Venegas, Alan Sharp-Paul, and Mike Baukes met on-the-job in Sydney, Australia. Sharp-Paul was a web developer and Baukes was a systems administrator.[6] After spending years in financial services in Australia and the UK, the trio developed a system for corporations to understand business software portfolios and the consequent risk of breaches and outages due to poor configuration management.[7] The first release of the system was initially named guardrail and allowed for the automation of typical cybersecurity DevOps practices, focusing on deep analysis into all relevant servers and software applications settings.[8]

In 2016, the company raised $17m in a series B funding round co-led by Pellion that included August Capital, Square Peg Capital and Insurance Australia Group.[9] In early 2017, UpGuard then, signed an exclusive distribution partnership with ACA Pacific in order to establish a stronger presence in the APAC region[10] and Baukes and Sharp-Paul opened an UpGuard office in Sydney, Australia, bringing the company back to the region "where it all began."[11] In June 2017, UpGuard announced that it had found an unsecured server containing data from Deep Root Analytics, which contained information on almost 200 million American voters.[12][13] In March 2018, UpGuard announced that it had found an unsecured server containing data from Aggregate IQ, the firm responsible for developing the tools used by Cambridge Analytica.[14] In 2020, UpGuard launched Summit, a quarterly event series designed to explore the future of security and hear from security leaders at global companies.

Financial History

In 2016, the company raised $17m in a series B funding round co-led by Pellion that included August Capital, Square Peg Capital and Insurance Australia Group. In December 2020, the company announced a record year of growth and the sale of a DevOps product called Core. [15] In 2021, the company raised $19 million in a Series B-1 funding round, bringing the total funding to $45 million ($59 million AUD).[16]

Products

UpGuard is a cybersecurity platform that prevents data breaches by allowing businesses to assess and monitor the risk of their third-party vendors and protect against data leaks. [17]

The UpGuard platform consists of three products: UpGuard Vendor Risk, UpGuard BreachSight, and UpGuard CyberResearch. UpGuard Vendor Risk, originally called CyberRisk, produces a credit-style score for cybersecurity, which determines a company and it's vendor's risk factors before issuing a report on where it can improve.[18] Breachsight is a product that allows companies to assess the attack surface of their technology systems [19] UpGuard CyberResearch is a managed service offering for vendor risk management. [20]UpGuard summarises key insights across this data dynamically and includes a proprietary risk modelling method or a security rating that aggregates all relevant risk factors into a score between 0 and 950, similar to a credit score, allowing companies to effectively predict and prioritise high-risk impact areas, track risk hotspots over time, and compare scores to similar companies in like industries.[21]

References

  1. ↑ Kunthara, Sophia (November 4, 2018). "Startups of the week: Filld, Meetingbird, Upguard". San Francisco Chronicle. https://www.sfchronicle.com/business/article/Startups-of-the-week-Filld-Meetingbird-Upguard-13361128.php. 
  2. ↑ "To Help DevOps-ify The World, ScriptRock Raises $8.7M". Forbes. https://www.forbes.com/sites/benkepes/2014/08/15/to-helps-devops-ify-the-world-scriptrock-raises-8-7m/#2cb215205513. 
  3. ↑ "IAG, Square Peg pump $25m into cyber risk company UpGuard" (in en). 2021-06-07. https://www.afr.com/technology/iag-square-peg-pump-25m-into-cyber-risk-company-upguard-20210604-p57y4b. 
  4. ↑ "To Help DevOps-ify The World, ScriptRock Raises $8.7M". Forbes. https://www.forbes.com/sites/benkepes/2014/08/15/to-helps-devops-ify-the-world-scriptrock-raises-8-7m/#2cb215205513. 
  5. ↑ "Security specialist UpGuard returns to Australia". Computerworld. https://www.computerworld.com.au/article/616619/security-specialist-upguard-returns-australia/. 
  6. ↑ "UpGuard Out To Disrupt $7.5 Billion Global Cybersecurity Insurance Market". Forbes. https://www.forbes.com/sites/brucerogers/2016/02/11/upguard-out-to-disrupt-7-5-billion-global-cybersecurity-insurance-market/#b756c432ddad. 
  7. ↑ "UpGuard Out To Disrupt $7.5 Billion Global Cybersecurity Insurance Market". Forbes. https://www.forbes.com/sites/brucerogers/2016/02/11/upguard-out-to-disrupt-7-5-billion-global-cybersecurity-insurance-market/#b756c432ddad. 
  8. ↑ "UpGuard Out To Disrupt $7.5 Billion Global Cybersecurity Insurance Market". Forbes. https://www.forbes.com/sites/brucerogers/2016/02/11/upguard-out-to-disrupt-7-5-billion-global-cybersecurity-insurance-market/#b756c432ddad. 
  9. ↑ "Security specialist UpGuard returns to Australia". Computerworld. https://www.computerworld.com.au/article/616619/security-specialist-upguard-returns-australia/. 
  10. ↑ "Aussie-born security vendor signs exclusive ACA Pacific deal". ARN. https://www.arnnet.com.au/article/615219/aussie-born-security-vendor-signs-exclusive-aca-pacific-deal. 
  11. ↑ "UpGuard brings cyber resilience expertise back to APAC 'where it all began'". SecurityBrief Australia. https://securitybrief.com.au/story/upguard-brings-cyber-resilience-expertise-back-apac-where-it-all-began/. 
  12. ↑ Fung, Brian; Timberg, Craig; Gold, Matea (June 19, 2017). "A Republican Contractor's Database of Nearly Every Voter Was Left Exposed on the Internet for 12 Days, Researcher Says". Washington Post. https://www.washingtonpost.com/news/the-switch/wp/2017/06/19/republican-contractor-database-every-voter-exposed-internet-12-days-researcher-says/?tid=sm_tw. 
  13. ↑ Cameron, Dell; Conger, Kate (June 19, 2017). "GOP Data Firm Accidentally Leaks Personal Details of Nearly 200 Million American Voters". Gizmodo. https://gizmodo.com/gop-data-firm-accidentally-leaks-personal-details-of-ne-1796211612. 
  14. ↑ Condon, Stephanie. "Data breach exposes Cambridge Analytica's data mining tools" (in en). https://www.zdnet.com/article/data-breach-exposes-cambridge-analyticas-data-mining-tools/. 
  15. ↑ "UpGuard Announces Record Year of Growth, Accelerates Development of Vendor Risk and BreachSight Products". https://www.prweb.com/releases/upguard_announces_record_year_of_growth_accelerates_development_of_vendor_risk_and_breachsight_products/prweb17615269.htm. 
  16. ↑ "IAG, Square Peg pump $25m into cyber risk company UpGuard" (in en). 2021-06-07. https://www.afr.com/technology/iag-square-peg-pump-25m-into-cyber-risk-company-upguard-20210604-p57y4b. 
  17. ↑ FinSMEs (2021-06-09). "UpGuard Raises $19M in Series B-1 Funding" (in en-US). https://www.finsmes.com/2021/06/upguard-raises-19m-in-series-b-1-funding.html. 
  18. ↑ Gagliordi, Natalie. "UpGuard aims to automate breach discovery with new security tool" (in en). https://www.zdnet.com/article/upguard-aims-to-automate-breach-discovery-with-new-security-tool/. 
  19. ↑ "Cybersecurity analytics startup VisibleRisk secures $25M in fresh funding" (in en-US). 2021-05-12. https://siliconangle.com/2021/05/12/cybersecurity-analytics-startup-visiblerisk-secures-25m-fresh-funding/. 
  20. ↑ News, Mirage (2021-06-08). "IAG Firemark Ventures partner UpGuard solidifies vision in third party risk management space | Mirage News" (in en-AU). https://www.miragenews.com/iag-firemark-ventures-partner-upguard-573432/,%20https://www.miragenews.com/iag-firemark-ventures-partner-upguard-573432. 
  21. ↑ "UpGuard offers a rating score of risk preparedness". NetworkWorld. https://www.networkworld.com/article/3026550/upguard-offers-a-rating-score-of-risk-preparedness.html. 




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