Highlights:

  • Bitsight offers a platform that maps a company’s technology assets, scans them for cybersecurity vulnerabilities, and ranks the identified issues based on their severity.
  • Bitsight intends to incorporate Cybersixgill’s technology into its software portfolio once the acquisition is completed.

Bitsight Technologies Inc. has acquired Cybersixgill Inc., a cybersecurity startup that gathers intelligence on hacker activities. The deal was finalized for USD 115 million.

The companies recently announced the acquisition.

Boston-based Bitsight has received USD 400 million in venture funding, with the majority—USD 250 million—raised through a 2021 investment from credit rating agency Moody’s Corp. Bitsight offers a platform that maps a company’s technology assets, identifies cybersecurity vulnerabilities, and ranks them based on their severity.

The software company provides several additional features. One tool, the Trust Management Hub, assists businesses in showcasing the security of their infrastructure to customers. Moreover, Bitsight has developed an analytics engine that helps organizations identify gaps in their breach prevention efforts and assess their performance compared to industry peers.

Cybersixgill, on the other hand, offers a cloud-based threat intelligence platform. This service provides organizations with data on hacking campaigns, which they can leverage to enhance their breach detection and mitigation strategies. The company’s customer base includes several Fortune 500 companies.

Cybersixgill reports collecting millions of data points each day from approximately 1,000 hacker forums and marketplaces. The company claims its algorithms capture hard-to-access records, such as deleted posts, that are often missed by other threat intelligence platforms. Additionally, its AI-powered feature, Cybersixgill IQ, converts the raw data into natural language summaries, making it easier for IT teams to analyze.

Customers can customize the platform’s data feeds to suit their needs. With an integrated alerting tool, administrators can receive notifications from Cybersixgill if employee or customer records appear on a hacker forum. Additionally, when researchers identify a vulnerability in a software product, the platform cross-references it with external data to assess the potential risk to a company’s systems.

After the acquisition is finalized, Bitsight intends to incorporate Cybersixgill’s technology into its software suite. The companies state that the aim is to enable organizations to more effectively utilize threat intelligence. Additionally, Bitsight intends to incorporate Cybersixgill’s AI capabilities into its cybersecurity data repository.

Chief Executive Officer of Bitsight, Steve Harvey, said, “With the integration of Cybersixgill’s team and technology, we can deliver even deeper insights to Bitsight customers about the targeted threats unique to their infrastructure.”

This is not Bitsight’s first acquisition. In 2021, the company acquired VisibleRisk Inc., a startup that also had Moody’s as an investor. That acquisition provided Bitsight with a platform that simulates cyberattacks to assess the effectiveness of companies’ cybersecurity systems.