Cybergrx
Acquired13 known investors
CyberGRX operated a third-party cyber risk exchange for assessing and prioritizing vendor risk; acquired by ProcessUnity in 2023.
Also known as CyberGRX
Investors · 13
Also in the syndicate · 4
Company profile
researched Aug 2026CyberGRX was a Denver, Colorado-based provider of third-party cyber risk management (TPCRM/TPRM) software. The company built what it described as a global cyber risk exchange, connecting enterprises with their vendors and other third parties so that assessment data could be shared rather than collected repeatedly by each customer. The exchange combined standardized third-party assessments with data analytics, real-world attack scenarios and threat intelligence to produce predictive risk insights and a portfolio-wide view of security gaps across a customer's third-party ecosystem.
The platform was designed to help risk and security teams identify, prioritize and reduce risk across large vendor populations, with capabilities positioned around portfolio analysis, benchmarking and collaboration between third parties and their customers. In 2023 CyberGRX was acquired by ProcessUnity, a Marlin Equity Partners portfolio company, and merged with ProcessUnity to form a combined software and data platform for third-party and cybersecurity risk management.
Business model
CyberGRX operated its exchange on a shared-cost model, in which participating organizations shared the cost of standardized third-party assessments and benefited from joint negotiation, community benchmarking and reuse of validated vendor assessment data across the network.
Traction
By the time of its Series C the company had raised $59 million in total funding from investors including Scale Venture Partners, Aetna Ventures, AllegisCyber, Bessemer Venture Partners, The Blackstone Group, ClearSky, GV, MassMutual Ventures and TenEleven Ventures.
Latest developments
In July 2023, ProcessUnity and its investors acquired CyberGRX, with CyberGRX's existing shareholders retaining a minority stake in the combined business. Financial terms were not disclosed. Piper Sandler acted as financial advisor and Cooley LLP as legal advisor to CyberGRX; Latham & Watkins advised ProcessUnity.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
CyberGRX was described as a leading provider of third-party cyber risk management software and was a finalist at the Innovation Sandbox at RSA Conference 2018. Following the 2023 transaction it was combined with ProcessUnity, which its acquirer positioned as a leader in the TPRM market.
Technology
The offering applied data analytics, real-world attack scenarios and real-time threat intelligence to standardized third-party assessment data, producing predictive risk insights and portfolio-level analysis of an organization's third-party ecosystem.
Go-to-market
Enterprise security and risk management teams responsible for assessing and monitoring third-party and vendor cyber risk, along with the vendors (third parties) that participate in the exchange.
Geography
Headquartered in Denver, Colorado; after the merger the combined company with ProcessUnity is headquartered outside Boston, Massachusetts.
History
CyberGRX launched a third-party cyber risk management community and exchange, was named an RSA Conference 2018 Innovation Sandbox finalist under CEO Fred Kneip, and raised a $30 million Series C in 2018 that brought total funding to $59 million. The company was acquired by ProcessUnity and merged into that business in July 2023.
Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsProcessUnity and its investors acquired CyberGRX and merged it into ProcessUnity; CyberGRX shareholders retained a minority stake in the combined company. Financial terms were not disclosed.
The Denver-based cyber risk exchange startup announced a $30 million Series C, bringing total funding to $59 million.
$30M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 3
primary sources listed
- CyberGRX Product Guide | ProcessUnityprocessunity.com · web
3 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cybergrx do?
- CyberGRX operated a third-party cyber risk exchange for assessing and prioritizing vendor risk; acquired by ProcessUnity in 2023.
- Who are Cybergrx's investors?
- Cybergrx's investors include AllegisCyber Capital, Bessemer Venture Partners, Flyover Capital, GV (Google Ventures), ICONIQ, MassMutual Ventures, Syn Ventures Seed Management Llc, Ten Eleven and 1 more.