BitSight is acquiring Cybersixgill for $115 million, building on its $2.4 billion valuation after Moody’s took a majority stake in 2021
Based in Boston, BitSight’s main job is to control cyber risks. It helps businesses determine their risk profiles and how likely their defenses will be broken. This includes looking at the products the business uses to protect its network and other digital assets and the attack surface these assets create.
In this effort, Cybersixgill will give BitSight more visibility. The smaller company looks at behavior on the dark web to find data leaks, signs of possible breaches, and new techniques. It says that “cyber threat intelligence” includes private messaging platforms, code repositories, paste sites, and safe web platforms.
Both businesses depend on AI for much of their work, and it sounds like the things they focus on will fit well together.
The small company, which is based in Israel, started as Sixgill. According to PitchBook, it had received just under $56 million from investors such as CrowdStrike, OurCrowd, and Terra Venture. However, PitchBook also says the company was worth over $162 million in 2022. Over the last few years, cybersecurity has been a popular area for getting money. However, rising waves don’t lift all boats.
Because of the deal, more money will be put into the tools that Cybersixgill was making. Steve Harvey, CEO of BitSight, said in a prepared statement, “We’re committed to investing in Cybersixgill’s industry-leading products and will continue to drive innovation to bring even greater value to customers.” The company is hiring both the tech and the team.
