New Functionality Gives Private Equity Funds Real-Time Oversight of Cybersecurity and Risk Posture of Portfolio Companies
NEW YORK–(BUSINESS WIRE)–Drawbridge, a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced they have launched a new module in Drawbridge’s flagship technology platform designed specifically for Private Equity (PE) funds. The new module gives PE funds a single view to monitor the complete cyber risk profiles of their portfolio companies in real-time. The first offering of its kind in the industry, the module was developed in partnership with Drawbridge clients who have been confronted with a dramatic rise in cyber-attacks on their portfolio companies in terms of both size and frequency.
The accelerating frequency of cybersecurity breaches in the Private Equity space has resulted in increased regulatory and investor scrutiny for managers and highlighted how critical it is that LPs feel confident that their assets and information are safe with the managers in which they invest. GPs must ensure they have ongoing maintenance and oversight to protect the Firm, its assets, and its confidential information, and that portfolio companies regularly test the environment and remediate vulnerabilities.
Created following significant client and market demand, the new Drawbridge module for Private Equity funds is offered as a managed service and provides PE funds with comprehensive transparency and insight into key aspects of the critical cybersecurity and risk standing of their portfolio companies. Funds can easily view the complete cybersecurity vulnerability management program and access data and reporting both at the GP and Portfolio Company Level. They can also leverage the new functionality to scan for known vulnerabilities within on-site and remote environments, monitor supply chain risk with a thorough third-party due diligence process, and create and track a roadmap for future improvements within the companies’ risk programs. The module includes Drawbridge’s advanced user interface (UI) that delivers executive summary level reporting that can be evidenced to LP’s to show progress of the Firm’s cybersecurity program from implementation of the Drawbridge module to today.
“Private Equity funds today face an increasingly complex threat landscape combined with escalating third party and supply chain risks. These funds must conduct thorough and continuous cyber risk assessments of their portfolio companies to protect their investments and their reputations, rather than view this critical practice as a mere point in time exercise,” said Jason Elmer, Founder and Chief Executive Officer of Drawbridge. “Our Private Equity clients told us they needed to be able to monitor and receive comprehensive, real-time information on their portfolio companies’ risk posture to identify cyber threats and minimize the possibility of cyber incidents that could inhibit their portfolio company’s growth. Drawbridge has always been focused on providing tailored and robust cybersecurity solutions that respond to pressing client and market needs just like this. We’re thrilled at the overwhelmingly positive feedback our clients have provided on the new module, and excited to make it available to our global client base.”
The launch of the new module in its flagship Drawbridge Platform follows a period of significant momentum for Drawbridge, including a minority growth equity investment by Long Ridge Partners earlier in the year and continued leadership expansion including the appointments of Darrell Tucker as Managing Director, Client Services, and Simon Eyre as Chief Information Security Officer.
About Drawbridge:
Drawbridge is a premier provider of cybersecurity software and solutions to the alternative investment industry. Its proprietary platform helps firms exceed and manage their governance, risk and compliance (GRC) requirements while combatting sophisticated cyber threats and third-party risks. Drawbridge’s platform connects business, compliance and IT to empower firms to centralize and manage their most robust security programs, improve their risk profile and raise institutional capital. With a tested team focused on value delivery and a 450+ strong customer base, Drawbridge offers unmatched customer service and flexibility to help businesses proactively manage vulnerabilities, plan for growth, and reduce complexity.
Contacts
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Articulate Communications for Drawbridge
drawbridge@articulatecomms.com
Iskra Duchkovska
iduchkovska@articulatecomms.com
