Today: Feb 12, 2025

Risk Ledger Secures £6.25M in Funding for Supply Chain Cybersecurity

1 year ago

Risk Ledger, a platform dedicated to helping organizations manage risks across their supply chains, has secured £6.25 million in a series A funding round. The funding round was led by Mercia Ventures, with participation from investors such as Seedcamp, Firstminute Capital, Episode 1, Village Global, and Finnish VC Lifeline Ventures. This funding brings Risk Ledger’s total investment to £9.8 million, which will be used to enhance their product offering and expand their network of interconnected organizations to detect cyberattacks in real-time.

In today’s increasingly complex threat landscape, organizations are well aware of the importance of cybersecurity and invest heavily in protecting their networks and systems. However, they often overlook the risks posed by third-party suppliers, which can expand the attack surface for cybercriminals. Recent attacks on organizations like The Metropolitan Police and NHS through their supply chains highlight the significance of this issue. KPMG’s research indicates that 73% of surveyed businesses have experienced disruption due to third-party attacks in the past three years, and Juniper Research predicts that supply chain attacks could cost $46 billion this year.

Risk assessments typically focus on a specific point in time, becoming quickly outdated and lacking detailed information about third-party vulnerabilities. Since its launch in 2020, Risk Ledger has gained 5,000 organizations as customers, with bookings doubling year-on-year. This enables them to offer a holistic view of complex supply chains, allowing clients to understand and control their risks. The platform functions like a social network, where member organizations share control profiles covering 12 security domains. Clients and suppliers overlap within the supply chain, providing a unique and constantly updated overview of the supply chain security ecosystem.

The platform’s ability to map complex relationships allows clients to identify risks beyond their immediate suppliers, contributing to a more comprehensive understanding of their supply chain security. With the support of this funding, Risk Ledger plans to further develop their products, introduce new tools for clients, and expand their partnerships in key industries. Adam Lovell, from Mercia Ventures, praised Risk Ledger’s innovative approach to third-party risk management, which is a growing concern for companies due to its limited traditional control. Risk Ledger aims to make the online world safer for all by helping organizations understand and respond to security incidents in their supply chain, ultimately enhancing resilience.

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